CLNE - Clean Energy Fuels pops on LA Metro RNG supply deal

Clean Energy Fuels (CLNE) +15.6% pre-market after signing a multi-year contract with the Los Angeles County Metropolitan Authority to supply 47.5M gallons of renewable natural gas for the largest transit bus fleet in the U.S.The contract resulted from a competitive RFP process, with Metro awarding Clean Energy three fueling depots for a five-year term, with an option to extend up to three additional years.Clean Energy already delivers RNG to five additional Metro fueling depots under a previously awarded RNG agreement.Clean Energy shares have rallied ~65% YTD; Credit Suisse last week initiated coverage with an Outperform rating and Street-high $17 price target.

For further details see:

Clean Energy Fuels pops on LA Metro RNG supply deal