Mon, Feb 24, 10:02 PM (60 days ago)
**Summary of Clean Energy Fuels Corp. (CLNE) 10-K for 2024** Clean Energy Fuels Corp. reported total revenue of $415.9 million for 2024, a slight decrease from $425.2 million in 2023, with net losses attributable to the company at $83.1 million compared to $99.5 million the previous year. The decline in revenue is primarily attributed to lower average fuel prices, despite an increase in fuel volume sold, particularly renewable natural gas (RNG), which constituted 89% of total fuel sales. Operating expenses decreased to $452.2 million from $501.6 million, driven by a significant reduction in product costs due to lower natural gas prices. The company is strategically positioned in the RNG market, focusing on heavy-duty trucking and expanding its infrastructure, including 582 fueling stations across the U.S. and Canada. Future growth is anticipated through joint ventures with TotalEnergies and bp, aimed at developing anaerobic digester projects. However, risks include reliance on fluctuating Environmental Credit markets and regulatory changes regarding emissions and alternative fuels. The company also faces challenges from increased competition in the renewable energy sector and economic uncertainties affecting customer demand. As of December 31, 2024, Clean Energy maintained a robust liquidity position with $217.5 million in cash and short-term investments, despite a total debt of $302.9 million. The outlook remains cautiously optimistic, contingent on market conditions and regulatory support for RNG adoption.