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Clean Energy Fuels (NASDAQ:CLNE) experienced a 5.1% increase in Wednesday’s trading following the announcement of the completion of its latest renewable natural gas (RNG) facility in Marshall County, Iowa. This new facility is projected to produce 1.7 million gallons per year of low carbon-intensity RNG.
The company revealed that the three-digester facility is now actively producing pipeline-quality RNG and injecting it into the national grid.
The methane generated from the approximately 240,000 gallons per day of manure produced by the 8,000-cow herd will be converted into biogas, providing a ready-to-use clean fuel for heavy-duty fleets across the U.S. The company also mentioned that they are in the process of filing applications to generate federal and state environmental credits.
The head of Marshall Ridge Dairy expressed, “Adding an RNG facility to our farm will enable us to manage our manure much better while generating an additional revenue stream for our bottom line.”
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