Clean Energy Fuels Corp. on Aug. 7 reported the company sold 61.4 million gallons of renewable natural gas (RNG) during the second quarter, up 7.5% when compared to the same period of last year.
During a second quarter earnings call, Clean Energy Fuels President and CEO Andrew Littlefair provided a brief update of the company’s RNG development business, noting Clean Energy Fuels now has six operational dairy RNG projects. An additional large RNG project located in Texas has begun commissioning while a project is Idaho is also nearing completion.
“Both the Texas and Idaho projects are on schedule to begin producing RNG by the end of the year,” Littlefair said. In addition, construction is underway on dairy RING project projects the company is developing in partnership with Maas Energy Works.
Robert Vreeland, chief financial officer at Clean Energy Fuels, said higher RNG volumes during the second quarter have helped to mitigate lower renewable identification number (RIN) values. Revenue from California Low Carbon Fuel Standard credits also fell during the second quarter, with Vreeland noting LCFS prices were down 20% during the second quarter when compared to the first quarter of 2025.
In its second quarter release, Clean Energy Fuels highlighted several new RNG supply agreements it executed during the quarter with transit fleets and municipalities across the country, including LA Metro, Trinity Metro in Fort Worth, Texas, and the City of El Paso, Texas, among others. The agreements are expected to provide over 20 million gallons of RNG to these agencies annually.
The company noted its joint venture with BP, CE bp Co. LLC, finalized the sale of $29.5 million in investment tax credits (ITCs) during the quarter, or a gross proceeds of $27.2 million.
Clean Energy Fuels reported $102.6 million in revenue for the second quarter, up from $98 million reported for the same period of last year. Net loss attributable to the company was $20.2 million, or 9 cents per share, compared a loss of $16.3 million, or 7 cents per share, reported for the second quarter of 2024. Adjusted EBTIDA was $17.5 million, down from $18.9 million.
