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Clean Energy Fuels (CLNE) Stock Though Fell On Thursday But 2021 Prospect Is Stronger

Gas fuel maker, Clean Energy Fuels Corp. (CLNE) shares increased 78% in last month. One of the reasons behind that surge was its alliance with the integrated oil and gas company, Total SE (TOT). The news of forming a joint venture led an 8% rise on December 21.

A joint venture has been formed by Clean Energy Fuels and Total with equivalent shares. In the United States, clean natural gas production and related facilities, including gas stations, will be built. Total’s U.S. division will offer $50 million to the new venture, another $65 million in credit services, $45 million in contracts for the gas station infrastructure project, and Clean Energy Fuels will spend $30 million in the project.

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The project takes environmental guidelines into consideration and has long-term potential. In California, in particular, renewable natural gas derived from biowaste is considered to be a zero carbon fuel, i.e. it does not fall under the applicable restrictions. In general, as zero-emission sources of electricity, solar panels and wind turbines have fewer restrictions. But there is still a need for natural gas as a backup or continuous supply of electricity, as well as for heavy machinery use.

Clean Energy has the room to extend this business. The organization is currently concluding arrangements in the United States with dairy farmers and other agricultural enterprises. At these plants, gas-generating systems are installed. The continuing move of heavy truck owners for the use of natural gas is the key path for the selling of finished products. For the next two decades, construction vehicles and tractors will not be completely electrified, but demand for gas and fueling infrastructure will continue to rise. Against this backdrop, the rise of Clean Energy shares in 2021 can be driven by new contracts and a rise in revenues.

Clean Energy Fuels Corp. (CLNE) was down -4.03% to $7.86 on Thursday while TOTAL SE (TOT) fell by -1.78% to end the trading at $41.91.

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