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Clean Energy Fuels Acquires Dallas Clean Energy

Posted on: Tuesday, 19 August 2008, 09:01 CDT

Clean Energy Fuels, a provider of natural gas as an alternative fuel for vehicle fleets, has acquired Dallas Clean Energy for approximately $19.1 million in cash from Camco International, a company focused on developing projects and strategies to reduce carbon emissions.

Clean Energy has partnered with Cambrian Energy in acquiring and operating the project. Cambrian Energy is a landfill gas project development and management company, which owns 30% of Dallas Clean Energy (DCE).

DCE owns the McCommas Bluff landfill gas processing plant. The landfill, owned by the City of Dallas, Texas, opened in 1975 and is scheduled to close in 2042. It is estimated that pipeline-quality methane gas will continue to be produced for approximately 30 years after the landfill closes.

Clean Energy entered into a $30 million credit facility with PlainsCapital Bank in Dallas in order to finance the acquisition and anticipated future capital improvements at the landfill. The Atmos Energy Pipeline Company distributes the gas collected from the landfill facility.

Andrew Littlefair, president and CEO of Clean Energy, said: "This is a major strategic action for Clean Energy, enabling our company to participate in using renewable biogas introduced into the pipeline system for our account along with traditional natural gas."

Source: Datamonitor

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