Clean Energy Fuels Q3 Net Loss Widens

Clean Energy Fuels, a provider of natural gas for transportation in North America, has reported a net loss of $10.6 million, or $0.24 per share, for the third quarter of 2008, compared to a net loss of $1.5 million, or $0.03 per share, for the same period of 2007.

The company reported revenue of $35.3 million for the third quarter of 2008, a 21% increase, compared to $29.2 million for the third quarter of 2007.

For the nine months ended September 30, 2008, the company reported a net loss of $18.5 million, or $0.42 per share, compared to a net loss of $6 million, or $0.15 per share, in the same period of 2007. Year-to-date revenue grew to $99.8 million, compared to $88 million in the prior-year period.

Andrew Littlefair, president and CEO of Clean Energy Fuels, said: “Even with the recent drop in diesel prices, we continue to have fleet operators come to us in search of an economical and viable solution in light of anticipated future fuel price volatility and the more stringent fuel emission standards that are on the horizon in 2010.”