- Clean Energy Fuels (NASDAQ:CLNE) +30.6% premarket after agreeing to sell the upstream portion of its renewable natural gas business to BP for $155M.
- BP will acquire CLNE's existing biomethane production facilities, its share of two new facilities and its existing third party supply contracts for renewable natural gas; as part of the deal, CLNE has signed a long-term biomethane supply contract with BP.
- Biomethane is produced entirely from organic waste, and as a fuel for natural gas vehicle fleets it is estimated to result in 70% lower greenhouse gas emissions than from equivalent gasoline or diesel fueled vehicles.