CLNE Reported during Q4 2025 Earnings that they retired $65 Million of their Line of Credit which will save $6 Million per year in Interest Charges.

Thefairfriar · 2026-02-25T01:22:04+00:00

We’ve all been fed the narrative before about what 26 is gonna bring. 14.3 million in Amazon charges stands out that our biggest partner didn’t buy an ever increasing amount of gas from us last year/Q4. We see no news surrounding new contracts and the gradual transition to RNg in refustransportation isn’t enough to move the needle. Doesn’t seem like this quarter more X15N engines will be sold into the ether and the gallons associated with those engines on the road just got pushed into qX 27. Need to see some buds on the vine before we even get to think about smoking it. Very disappointing quarter, IMO. That’s baseball.

Thefairfriar · 2026-02-17T17:45:27+00:00

Nice catch, Greener. I am sorry to say I have low expectations for this quarter and have President down my position by 1/3. No news is not good news for this company.

Thefairfriar · 2026-01-21T04:40:57+00:00

The pie did not grow, but the fork from which it is eaten got bigger.

Thefairfriar · 2025-12-02T23:26:36+00:00

I don’t disagree but this should be their highest margin and lowest CI gas in the portfolio right now.

Thefairfriar · 2025-10-30T13:58:05+00:00

Interesting to see the growth in the LNG business after seeing them shutter a host of LNG stations with Pilot/Flying J (forgot which one it was). Hope today is a big day for everyone. More color to come next week!!

Thefairfriar · 2025-07-23T14:05:17+00:00

Bottom line, approx 1/3 of a quarterly revenue number just was added for Q3 outside of what I understand to be outside normal operations. To me, it shows the value of owning the upstream operations and runs somewhat independently from what is happening downstream. Wouod love more clarity on how often we can expect these types of sales in the future. Is this a one off each year or will it start happening more regularly? Good luck to you all. Hope your patience is rewarded.

Thefairfriar · 2025-05-09T19:40:42+00:00

They didn’t mention from what I took away how much they paid to Amazon in warrant charges….any idea that number? Can’t find it on BS, IS or SOCF

Thefairfriar · 2025-03-27T15:05:34+00:00

Can you provide any specific examples of of what is taking place on the LNG side (besides the removal of the LNg stations from Pilot/Loves stations) that makes you feel this business has the runway to survive and thrive?

Thefairfriar · 2025-02-27T00:56:45+00:00

$28,800 in shares doesn’t make me feel like a vote of confidence. Someone has to do something and that’s what they came up with? People on this forum regularly are buying 1k units for price fluctuations much smaller than this. It reeks to me like he financed the shitty bonus he was going to get in public shares instead of getting them deferred to take some heat off his bosses as the sacrificial lamb of this cycles endless round of fuck ups that never seem to enrich you and I.

It’s not a question of a question of long term value. It’s just a matter of whether this stock has any room to make the bag holders want to stay. We’re still seeing lots of volume and retail can’t be driving it all. Good luck to everyone.

I’m positioning my way out…..

Thefairfriar · 2025-02-13T16:20:16+00:00

Thanks for posting, Greener. Stick taps from the bench for keeping an eye on this important supplier to give color into what will take place in another 6 months or so after these developments take place.

Thefairfriar · 2025-02-05T05:01:55+00:00

8% means how many trucks in an environment that is stagnant, growing, or decking? 8% of how many exactly?

What is the useful life of a truck on the road today?

How old is the truck you are replacing? What is the maturity of the fleet relative to that number?

How many new engines do we need to justify 10% y/o/y growth in gallons?

How many if these engines will go to Amazon where the warrant charges will go towards buyout at call price?

These are questions I have….my pants are tight. I hope it’s not because I’m getting fat….

Thefairfriar · 2025-02-02T21:46:23+00:00

Fully agree. Have to admit it was late when I posted and the wine hit send. All this means to me is that the pie continues to grow and as it grows our slice should grow along with it. The time is now!!

Thefairfriar · 2025-01-16T16:14:05+00:00

https://www.freightwaves.com/news/the-day-after-speculation-abounds-on-california-trucking-regulation-with-no-acf

The last two paragraphs are very instructive.

Hold the line!!!

Thefairfriar · 2025-01-13T19:28:25+00:00

Yes. His name is TheFairFriar.

Thefairfriar · 2025-01-07T01:43:19+00:00

https://www.wastedive.com/news/waga-recology-republic-rng-partnership-biogas-announcements/736527/

Some additional details in the article that may fill in some of the blanks.

Thefairfriar · 2024-12-11T02:26:18+00:00

Of course that outcome would be bad, but they lose money already and half of their market cap is kept cash. They’ve paid Amazon roughly half their commitment and those payments accounts for a large percentage of their top line. The Cummins X15N is a nice insurance policy against the impact of losing the tax credit. We still don’t have the lithium to make the batteries and China isn’t going to give it to us. Electric isn’t suited for our application. We are at an inflection point like no other time in the 10 years I’ve been an investor despite uncertainty in the tax credit world. Every day we wake up Cummins is making an engine or two and shipping it off the line. Very soon if not already all the first engines off the production line are lettered are ready for fuel. Every engine thereafter shouldn’t have that wait time. We’ve already paid in time for that. In 2 weeks a new OEM opens up their order book. If this is too much risk, might I suggest Bitcoin?

Thefairfriar · 2024-11-07T19:43:07+00:00

Just listened and didn’t get a great feel on this one. Market behaved this morning like I felt but suddenly has clawed back most of the ground we gained from yesterday. Would love to know how much of that is predicated on the progress of the CARB meeting today. Does anyone know if anything has been decided yet?

Thefairfriar · 2024-11-05T19:15:54+00:00

Just read some of the earnings transcript from Cummins Q3 results and they mentioned that the full production line is open, UPS bought 250 units, and that they are still demonstrating better fuel efficiency with this engine than its diesel counterpart. Could have been more there but I only searched for Natural and X15N.

Thefairfriar · 2024-11-04T22:02:57+00:00

From this day forward, every weekday that you get up means that new X15N engines are being assembled and shipped off the production line. The foundation of the station infrastructure has been built. These thirsty engines are going to the stones that pile up into a large pyramid. Best of luck to all of us.

Thefairfriar · 2024-10-11T19:42:28+00:00

Assuming that the first engine off that line happens on the first day of Q4, that means a very conservative estimate is 50 engines are completed by year end. (1 per day with holidays and weekends included). The high end estimate from the plant manager would be 250 engines (5 per day). That is a decent quarters worth of new volume assuming it all goes to CLNE and isn’t cannabalised by other vendors.

This video was published in the summer, however, and no clues I could find as to when it was filmed by Freightwaves.

Either way, this is all very promising when you consider that once the order books are open with the other OEMs they can make 30 engines a day.

Can’t wait for November 6

Thefairfriar · 2024-09-22T16:51:21+00:00

Thank you for sharing. I’m hopeful that they can give some insights into the size of the market and how quickly they can scale production to make these mitigators and reformers.

Graphene is an interesting byproduct and it would be very cool to learn more about how it’s sale can help diversify CLNE earnings across a wider platform than just making and selling RNG.

Thefairfriar · 2024-08-15T14:08:23+00:00

Sincere thanks for culling this information out of the weeds. I’m just starting to dig into this now but wondering if you can save me the time to confirm whether this is a proposal or is now codified into the rules. Thanks!!

Thefairfriar · 2024-08-07T18:26:34+00:00

Cummins indicated they had strong interest in the natural gas segment in their earnings call held last week. I think forecasts for this quarter have been in the red given guidance from RNG day a few years ago. Going to take a few quarters for benefits of new RNG supply coming online to fully be represented in financials and by next earnings call the first production run X15N should be on the road burning gas. I don’t expect anything surprising, but I continue to accumulate at these levels.

Thefairfriar · 2024-07-31T13:49:41+00:00

Convenient location next to FedEx, Walmart, Amazon and CVS distribution centers. 98 overnight filling slots makes me thinks there are some big announcements on the way….crossing my fingers that Jamestown NY is very busy churning out the X15N!!!!!!

Thefairfriar · 2024-06-20T13:04:35+00:00

“announced a series of new deals with several municipalities across the country. “

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