BP - Clean Energy Fuels BP to broaden renewable natural gas joint venture

Clean Energy Fuels (NASDAQ:CLNE) +3.2% pre-market after saying it is enhancing its renewable natural gas joint venture with BP to finance and develop new projects at U.S. dairy farms. The companies say the dairy farms in Iowa and South Dakota have the potential to convert methane produced from waste into 7M-plus gallons of RNG annually. Dynamic Holdings will oversee construction and develop and operate the facilities following the execution of an agreement with the JV to execute multiple phases of dairy RNG projects. The first RNG production facility is expected to be operational next year. Each company has committed to provide initial $50M investments to the 50-50 venture, which was first announced in April.

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Clean Energy Fuels, BP to broaden renewable natural gas joint venture