Updated: 6/22/2009 4:30:00 PM
Clean Energy to Issue Common Stock


Clean Energy Fuels Corp., which operates natural gas fueling stations throughout the United States and Canada, said it plans to issue 6 million shares of its common stock.

The issuance will be used “for working capital and other general corporate purposes,” including possible investment in new and existing natural gas fueling infrastructure, the company said Monday in a statement.

Clean Energy has not set a date for the stock sale.

Clean Energy, Seal Beach, Calif., was co-founded by oil executive T. Boone Pickens.

Both Pickens and Clean Energy have pushed for wider use of natural-gas fueled trucks.

Some manufacturers, including Paccar and Daimler Trucks North America, offer trucks fueled by natural gas. Those vehicles use Cummins Inc. engines that have been modified by Westport Innovations, to run on natural gas.

Wal-Mart Stores uses a small number of natural gas trucks in its Southern California operations. The Port of Los Angeles, which is in the process of implementing its clean truck plan, also uses some natural gas powered vehicles.


Buck