Clean Energy Sells Interest in Biomethane Production Facility
Clean Energy Fuels Corp., majority interest owner of McCommas Bluff biomethane production facility, is selling its interest in the facility to minority interest owner Cambrian Energy for $40.6 million, with approximately $3 million in additional compensation pending further performance tests of the facility.
Clean Energy will continue to have the right to market and sell biomethane produced at the facility under its Redeem renewable natural gas (RNG) vehicle fuel brand. Cambrian Energy has been Clean Energy’s partner since Clean Energy bought into the McCommas project in August 2008.
Clean Energy says it has quintupled biomethane sales since buying into the company.
In 2013, Clean Energy Fuels said it was the first company to commercially distribute a renewable natural gas vehicle fuel made from waste streams such as landfills, large dairies and sewage plants directly to fleets around the country. The company says the fuel is up to 90 percent cleaner than diesel. Redeem is derived from biogenic methane or biogas, which is methane that is naturally generated by the decomposition of organic waste. Clean Energy captures and extracts methane gas from its landfills and other waste streams. The methane gas is then processed, purified and sent into the interstate natural gas pipeline and made available exclusively to Clean Energy customers.
Clean Energy commenced production at its new biomethane facility in North Shelby, Tenn., this year and added an additional 12 third-party-owned biomethane production sources to its portfolio of RNG supply.
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