Clean Energy Fuels Corp. has sold its majority stake in the McCommas Bluff biomethane production facility in Dallas to minority interest owner Cambrian Energy.
Clean Energy says it will continue to have the right to market and sell biomethane produced at the facility under its Redeem renewable natural gas (RNG) fuel brand. Redeem is a transportation fuel produced 100% from waste streams such as landfills and sewage plants.
Clean Energy bought into the McCommas project in August 2008. The company has sold its interest to Cambrian Energy for approximately $40.6 million, with about $3 million in additional compensation pending further performance tests of the facility to be completed in early 2015.
Clean Energy notes that it commenced production at its new biomethane facility in North Shelby, Tenn., last year and has added 12 more third-party-owned biomethane production sources to its portfolio of RNG supply.
Redeem RNG is currently available throughout Clean Energy's public natural gas fueling stations in California.
