BP - Clean Energy Fuels contributes another $50M to BP joint venture

Clean Energy Fuels (CLNE) +5% post-market after disclosing it contributed $50M to its 50-50 joint venture with [[BP]] and forced the conversion of BP's Class B units into Class A units.The companies established their JV in April, at which time BP made its $50M contribution.The JV has several dairy renewable natural gas projects under development, and Clean Energy expects RNG produced from the projects to become available starting in H2 2022.Market analysts likely will increase their Clean Energy Fuels sales expectations in the coming months but the shares are not very cheap, QQQ Investments writes in a recent analysis posted on Seeking Alpha.

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Clean Energy Fuels contributes another $50M to BP joint venture