Clean Energy Fuels Corp., a company focused on natural gas fuel and refueling solutions for transportation, says it sold 54.4 million gallons of renewable natural gas (RNG) in the fourth quarter of 2022, representing a 21.2% increase compared to the fourth quarter of 2021.
In 2022, the company sold nearly 200 million gallons of RNG, compared to 167 million gallons in 2021 – an 18.7% increase.
“We continue to execute on our growth plans around RNG supply and the build out of new stations to accommodate Amazon and other fleets,” says Andrew J. Littlefair, Clean Energy’s president and CEO. “Despite some formidable headwinds around lower environmental credits prices and a spike in California natural gas prices during the fourth quarter, we finished the year with solid financial results and a well-funded balance sheet.”
The company’s revenue for the fourth quarter was $113.8 million; it totaled $420.2 million for the year.
Patience is required for the development of innovative companies like Clean Energy. I theorize that the reason that CLNE’s stock so low is because it gives the patient investors more of a chance to buy in on what will be a major industry in the coming years.
The need for industries related to Clean Energy are inevitable.
Amazon, Apple, Microsoft, nor Rome was built in a day.
Did the company make money in 2022?
why is stock down so much then?