- Clean Energy Fuels (NASDAQ:CLNE) +5% post-market after disclosing it contributed $50M to its 50-50 joint venture with BP and forced the conversion of BP's Class B units into Class A units.
- The companies established their JV in April, at which time BP made its $50M contribution.
- The JV has several dairy renewable natural gas projects under development, and Clean Energy expects RNG produced from the projects to become available starting in H2 2022.
- Market analysts likely will increase their Clean Energy Fuels sales expectations in the coming months but the shares are not very cheap, QQQ Investments writes in a recent analysis posted on Seeking Alpha.