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NEWPORT BEACH, Calif. - Clean Energy Fuels Corp. (NASDAQ:CLNE), a $608 million market cap company operating with moderate debt levels, announced Wednesday the launch of its second heavy-duty truck demonstration program featuring the 2026 Freightliner Cascadia Gen 5 day cab equipped with the Cummins X15N natural gas engine. According to InvestingPro data, the company’s stock has shown remarkable momentum with a 91.55% return over the past six months, though price movements remain volatile.
The new demonstration truck will be showcased at the American Trucking Associations’ Management Conference & Exhibition in San Diego from October 25-28 before beginning its deployment with the program’s debut fleet partner.
This initiative follows Clean Energy’s first demonstration program launched last year with a Peterbilt truck using the same Cummins X15N engine. According to the company, the first demo truck received positive feedback from participating fleets regarding its performance across different terrains, torque capabilities, and fuel efficiency when running on renewable natural gas (RNG).
"The Cummins X15N truly is a game-changer, providing equivalent power and torque as its diesel equivalent, yet allowing fleets to claim significant carbon and NOx emission reductions with a fuel that is priced at a big discount to diesel," said Chad Lindholm, senior vice president at Clean Energy.
The demonstration truck will travel through freight corridors in multiple states including California, Texas, Arizona, Illinois, Ohio, Michigan, Pennsylvania, and Florida. The program is expected to continue through 2028 or longer, depending on demand.
Clean Energy states that the X15N engine runs on RNG derived from organic waste such as dairy manure. The company claims fleets fueling with RNG can reduce emissions by more than 300 percent while spending less per gallon compared to diesel.
Several major carriers including Walmart, Amazon, UPS, FedEx, Werner, and Knight Swift have placed orders for trucks with the new engine, according to the press release statement.
Clean Energy Fuels operates a network of RNG fueling stations across the United States and Canada. While the company is not currently profitable, InvestingPro analysis reveals several additional insights about the company’s financial health and market position. Subscribers can access the comprehensive Pro Research Report, which provides detailed analysis of Clean Energy Fuels among 1,400+ top US stocks, helping investors make informed decisions based on expert insights and advanced metrics.
In other recent news, Clean Energy Fuels Corp reported its second-quarter 2025 earnings, surpassing revenue expectations with $102.6 million compared to the forecasted $94.09 million. The company’s earnings per share also exceeded expectations, coming in at $0.01 against an anticipated -$0.06. In addition to these financial results, Clean Energy Fuels has been awarded a contract to design, build, and maintain a second hydrogen fueling station for Foothill Transit. This $11.3 million project will be located at Foothill Transit’s Arcadia bus yard and will support an initial order of 19 new hydrogen fuel cell buses. Federal and state grants will partially fund this project. Despite these positive developments, Jefferies downgraded Clean Energy Fuels’ stock rating from Buy to Hold, setting a price target of $2.20. The downgrade was primarily due to concerns over the X15N ramp, even though the company reported EBITDA of $17.5 million, exceeding consensus expectations by 58%.
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