Yahoo Finance Clean Energy (CLNE) Enters an Accord With BP Affiliate
Clean Energy Fuels Corp. CLNE recently announced an accord with BP Products North America Inc, an affiliate of BP p.l.c. BP.
The agreement calls for the creation of a 50/50 joint venture (“bpJV”) through which the companies will get involved in the operation and development of a new renewable natural gas (RNG) facilities at other agriculture facilities and dairies. The plan was disclosed earlier by Clean Energy. It is to be noted that per the deal it has been committed by BP and Clean Energy to provide $50 million and $30 million, respectively, to bpJV.
Importantly, through this development, the companies have decided for the production of one of the world’s cleanest fuels. From the to-be constructed renewable natural gas production facilities, the companies will be able to capture carbon emissions from dairies and will convert it to a transportation fuel. Thus, the long-term negative impact on climate change will get subsided.
As a largest provider of renewable natural gas, being used as a fuel for transportation, in the United States and Canada, Clean Energy added that there has been accelerated improvement in demand for this carbon-negative fuel over the past few years. Thus, the latest agreement will boost the companies’ bottom line in the long run.
BP p.l.c. Price
BP p.l.c. price | BP p.l.c. Quote
Currently, Clean Energy carries a Zacks Rank #4 (Sell), while BP carries a Zacks Rank #2 (Buy). Meanwhile, two prospective players in the energy sector include Diamondback Energy, Inc. FANG and Matador Resources Company MTDR. Both the stocks sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Diamondback is likely to see earnings growth of 112.5% in 2021.
Matador is likely to see earnings growth of 300% in 2021.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Clean Energy Fuels Corp. (CLNE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
