CLNE - Clean Energy Fuels forms 50-50 JV with BP Products North America

Clean Energy Fuels (CLNE) discloses it established a 50-50 joint venture with [[BP]] to develop, own and operate new renewable natural gas facilities at dairies and other agriculture facilities in North America, fleshing out plans initially unveiled last month.BP and Clean Energy have committed to provide a respective $50M and $30M to the JV, with BP's initial contribution consisted of all unpaid principal and accrued interest outstanding under the loan agreement from December 2020.Clean Energy Fuels has a massive market opportunity ahead, but the company has failed to produce profits or even improve margins over time, Dan Strack writes in a neutral analysis published on Seeking Alpha.

For further details see:

Clean Energy Fuels forms 50-50 JV with BP Products North America