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CLNE stock rose more than 14% on January 26, 2022, after the company gave an awesome revenue forecast that beat expectations.

Clean Energy sees 2022 revenue $444M, consensus $373.98M

Clean Energy forecasts 2022 revenue of $444M and adjusted net income of $8M, with adjusted EBITDA of $65M. The company forecasts 2023 revenue of $580M and adjusted EBITDA of $136M, growing to $983M and $555M, respectively, by 2026. Source: https://investors.cleanenergyfuels.com

Clean Energy to build methane capture digester at Millenkamp Dairy in Idaho

Clean Energy (CLNE) will announce, during its RNG Day webcast, that it has signed an agreement to construct a methane capture digester at Millenkamp Dairy in Jerome, Idaho, one of the largest dairy farms in the U.S. The project is expected to provide an anticipated five million gallons of very low carbon-intensity RNG annually which will flow into Clean Energy’s fueling network. The Millenkamp project will be developed through Clean Energy’s joint venture with BP (BP).

“With carbon reduction up to 500 percent, RNG is the epitome of renewable energy,” said Andrew J. Littlefair, president and CEO, Clean Energy. “It presents enormous potential in sustainable transportation, so we’re focused on a pathway to grow both the production and distribution of this negative carbon intensity fuel.”

As part of the presentation, Clean Energy will announce that it has signed an agreement to construct a methane capture digester at Millenkamp Dairy in Jerome, Idaho, one of the largest dairy farms in the U.S. The project is expected to provide an anticipated five million gallons of very low carbon-intensity RNG annually which will flow into Clean Energy’s fueling network. The Millenkamp project will be developed through Clean Energy’s joint venture with bp.

“‘A Legacy of Trust’ is our motto at Millenkamp and we’ve always held ourselves to the highest standard in how we manage our cattle and the dairy,” said Bill Millenkamp, owner of the dairy. “Adding the ability to produce what can be millions of gallons of clean fuel reinforces our commitment to sustainability. As a family business, it’s extremely important to leave a better operation to the next generation and this new methane capture digester will move us towards that goal.”

Clean Energy upgraded to Market Perform from Underperform at Raymond James

On January 4, 2022, Raymond James analyst Pavel Molchanov upgraded Clean Energy to Market Perform from Underperform without a price target. The wintertime drop in the oil market pressured the stock to 52-week lows, providing an opportunity to close out the short, Molchanov tells investors in a research note. With the oil market poised for back-end-weighted strength in 2022, the risk/reward looks more balanced, the analyst adds.

Clean Energy Appoints Energy Sector Leader Lorraine Paskett to Board of Directors

On December 22, 2021, Clean Energy Fuels Corp. (NASDAQ: CLNE) announced that Lorraine Paskett, vice president of AES Corporation, has been appointed to the Board of Directors effective immediately.

“Lorraine is an esteemed industry leader with more than 25 years of experience in the energy and environmental sectors,” said Clean Energy Board of Directors Chairman Stephen Scully. “With her background in climate change reform and the renewable energy market, I’m confident that she will bring a great perspective to our board, and we’re proud to have her join us.”

Ms. Paskett oversees all external matters in California for AES US Business which includes supporting a transition from fossil fuel to renewable and zero carbon energy, new opportunities for energy storage, renewable energy development, and advanced fuels and emerging technologies in the electric and gas markets.

Previously, she founded and served as principal of Cambridge LCF Group, which provided strategic advice for companies in the gas and electric sectors, with a focus on advanced fuels and climate. In her role there, she was involved in many conventional gas, advanced fuels, climate change, and LCFS initiatives.

Ms. Paskett also served as a senior executive for the Los Angeles Department of Water and Power, leading water resource policy and providing a comprehensive approach for sustainable utility practices, including consumer water conservation and water reuse projects.

“Clean Energy has staked out a leadership position in providing customers with ways to immediately and significantly reduce their carbon emissions and address climate change through their operations,” said Ms. Paskett. “I’m excited to work with fellow board members as the company continues to expand the use of renewable fuels and contribute to the company’s future growth and success.”

📺 CLNE CEO: Amazon deal validation of renewable natural gas

CLNE CEO: Amazon deal validation of renewable natural gas

📉 CLNE Stock Technical Analysis

The short term trend is negative, as is the long term trend. CLNE is part of the Oil, Gas & Consumable Fuels industry. There are 398 other stocks in this industry, of which 92% are performing better than CLNE. CLNE is currently trading in the lower part of its 52 week range, which is not a good signal. The S&P500 Index is also not doing fantastic, but it still sitting in the middle of its 52 week range.

There is support at 6.25 from a trend line in the daily time frame. There is a support zone ranging from 5.70 to 5.77. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame. There is also a support zone ranging from 5.13 to 5.13. This zone is formed by a combination of multiple trend lines in multiple time frames.

There is resistance at 6.38 from a trend line in the weekly time frame. There is also resistance at 7.47 from a trend line in the weekly time frame.

The technical rating of CLNE is bad and it also does not present a quality setup at the moment. CLNE stock has a Setup Rating of 0 out of 10. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when CLNE stock consolidates and has a Setup Rating of 8 or better.

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