Clean Energy Fuels Corp ($CLEN) is a leading renewable energy company focused on the procurement and distribution of renewable natural gas, in the form of compressed natural gas, and liquefied natural gas for the United States and Canadian transportation markets.
Clean Energy is in a unique position because valuable Environmental Credits are generated (the same credits that Tesla sold to earn one of its first profitable years) by the party that dispenses renewable natural gas into vehicle fuel tanks, and they have access to more dispensers than any other market participant.
On April 19, 2021, Clean Energy announced an agreement with Amazon to provide low and negative carbon RNG. Fuel will be provided at 27 existing Clean Energy fueling stations and another 19 new or upgraded stations by the end of the year. This will provide renewable natural gas in 15 different states. Additionally, on May 11, 2021, Chevron announced they were investing an additional $20M in the Adopt-a-Port initiative with Clean Energy to provide cleaner, more carbon-negative renewable natural gas.
The stock is currently trading at $9.9 a piece with fair value predictions in the range of $20 - $28. What are your thoughts on this stock?