Clean Energy Fuels Corp. (CLNE) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in Clean Energy Fuels (CLNE) by buying shares or fractional shares at any major US broker, through a clean-energy or alternative-fuels ETF that holds it, or as one holding in a thematic basket. Clean Energy Fuels supplies natural gas and, increasingly, renewable natural gas (RNG) as a transportation fuel for heavy-duty vehicle fleets like trucks, buses, and refuse haulers, operating a nationwide network of fueling stations and investing in dairy-based RNG production. The single most important thing to understand is that this is a small-cap energy-transition story: the thesis rests on growing RNG volumes, reaching sustained profitability, and whether new natural gas truck engines drive fleets to adopt the fuel.
CLNE stock price
As of 2026-07-14, Clean Energy Fuels Corp. (CLNE) last closed at $2.33, up 4.3% over the past year. Over the past 52 weeks it has traded between $1.73 and $3.06.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Clean Energy Fuels Corp.'s investor relations page. Walnut is informational, not investment advice.
What does Clean Energy Fuels Corp. (CLNE) do?
Clean Energy Fuels Corp. is a provider of natural gas and renewable natural gas (RNG) as a fuel for transportation, focused on heavy-duty fleets such as trucking, transit buses, refuse trucks, and airport and municipal vehicles. It owns and operates a large network of fueling stations across the United States and Canada, sells compressed and liquefied natural gas, and is expanding into upstream RNG production, including dairy projects that capture methane from manure and process it into low- or negative-carbon fuel. RNG is the strategic centerpiece because it can carry environmental credits and lower lifecycle emissions, which supports both pricing and the sustainability case fleets use to switch.
In Q1 2026 the company reported revenue of about $117.6 million, up from roughly $103.8 million a year earlier, and sold about 67.4 million gallons of RNG, part of total fuel volume near 84.7 million gasoline gallon equivalents. It remains unprofitable on a GAAP basis, reporting a net loss of about $12.4 million, or roughly $0.06 per share, though that was a much smaller loss than the prior-year quarter, and adjusted EBITDA was about $16.6 million. Management's 2026 guidance calls for higher RNG volumes, improved adjusted EBITDA, and lower operating expenses, with no new debt planned. A key long-term driver is the Cummins X15N, a 15-liter natural gas engine for Class 8 trucks that could expand the addressable market, though early fleet adoption has been slower than hoped amid freight-market weakness, higher upfront equipment costs, and regulatory uncertainty.
What's driving Clean Energy Fuels Corp. (CLNE)?
1. Renewable natural gas volume growth
Clean Energy's strategy centers on growing RNG, which increased to about 67.4 million gallons in Q1 2026 from roughly 50.6 million a year earlier. RNG carries environmental credits and lower lifecycle emissions, supporting pricing and the case fleets use to switch. The company is investing upstream in dairy RNG projects to capture more of the value chain. Rising RNG volume and improving economics are the core of the growth thesis.
2. The Cummins X15N engine and fleet adoption
A major potential catalyst is the Cummins X15N, the first 15-liter natural gas engine for Class 8 long-haul trucks, offering diesel-like performance with lower emissions. Broader adoption would expand the market for Clean Energy's fuel and stations. But uptake has been slower than expected due to weak freight fundamentals, higher upfront truck costs, and regulatory uncertainty, so the pace of engine adoption is a key swing factor for demand.
3. Path to profitability and cash discipline
Clean Energy has a long history of GAAP losses, but the Q1 2026 loss narrowed sharply year over year and adjusted EBITDA stayed positive. 2026 guidance targets higher RNG volumes, improved adjusted EBITDA, and lower operating expenses, with no new debt planned. Under newer leadership emphasizing execution, growth, and a more technology-forward approach, the ability to move toward sustained profitability is central to the investment case.
4. Station network and fleet contracts
The company's nationwide network of fueling stations and long-term supply agreements with fleets, including large customers across trucking, transit, and logistics, are a competitive asset. Winning and renewing multi-year fleet contracts, and building or upgrading stations to serve new natural gas trucks, drives recurring fuel volume. The breadth of this infrastructure is a barrier that would be costly for new entrants to replicate.
What are the risks to Clean Energy Fuels Corp. (CLNE)?
The dominant risk is that Clean Energy has a long track record of GAAP losses and depends on RNG volumes, fuel economics, and environmental credits that can be volatile and policy-dependent. Demand hinges on fleets choosing natural gas over diesel and, increasingly, electric alternatives, and adoption of the Cummins X15N has been slower than hoped amid weak freight markets and high upfront truck costs. Regulatory and credit programs, such as low-carbon fuel and renewable-fuel incentives, materially affect RNG economics and are outside the company's control. As a small-cap in a capital-intensive business, it is sensitive to energy prices, interest rates, and access to funding. Competition includes diesel, battery-electric and hydrogen fleet solutions, and other gas suppliers, and any shift in policy support or freight demand can pressure results quickly.
How is Clean Energy Fuels Corp. (CLNE) valued? (approximate, Jul 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Clean Energy Fuels Corp.'s investor relations page or your broker.
- Revenue (Q1 2026): ~$117.6 million, up from roughly $103.8 million a year earlier
- RNG volume (Q1 2026): ~67.4 million gallons, up from about 50.6 million a year earlier
- Net loss (Q1 2026): ~$12.4 million, or roughly $0.06 per share, a much smaller loss than the prior year
- Adjusted EBITDA (Q1 2026): roughly $16.6 million, broadly in line with the prior-year quarter
- 2026 guidance: higher RNG volumes, improved adjusted EBITDA, lower operating expenses, no new debt planned
- Profile: small-cap, still GAAP-unprofitable; valued on RNG growth and turnaround potential, not current earnings
Figures are approximate and tied to the asOf date; verify live numbers before acting. Because Clean Energy is not consistently profitable on a GAAP basis, traditional earnings multiples are not the main lens; investors focus on RNG volume growth, adjusted EBITDA, and whether natural gas engine adoption expands demand. Environmental credits and policy support are a large and variable part of RNG economics, so results can swing with regulation as much as with fuel sold. Treat this as a speculative energy-transition holding.
Who competes with Clean Energy Fuels Corp. (CLNE)?
Alternative-fuel and RNG suppliers
Other renewable natural gas producers and natural gas fuel providers, along with utilities and gas marketers that sell to fleets, compete for the same RNG supply and fleet customers. As RNG interest grows, more players, including large energy companies developing dairy and landfill gas projects, are entering the space Clean Energy helped pioneer.
Competing zero- and low-emission fleet technologies
Battery-electric trucks and, over the long term, hydrogen fuel-cell vehicles compete with natural gas as the path fleets choose to cut emissions. Diesel also remains the entrenched default. The outcome of this technology competition for heavy-duty transport is one of the biggest uncertainties around Clean Energy's addressable market.
Diesel and traditional fuel infrastructure
Established diesel fuel and its vast refueling network remain the main incumbent Clean Energy must displace, backed by lower upfront truck costs and familiarity. Traditional fuel retailers and energy majors have the scale and capital to expand into alternative fuels if the market grows, adding competitive pressure over time.
How to invest in Clean Energy Fuels Corp. (CLNE)
There are three common ways to get CLNE exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so CLNE sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where CLNE fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Clean Energy Fuels Corp. (CLNE)
Clean Energy Fuels is a small-cap bet on renewable natural gas as a fleet fuel, with growing RNG volumes but a history of losses. It rewards rising RNG adoption, engine uptake, and improving EBITDA, and punishes slow demand or weak fuel economics, so the question is how much speculative energy-transition risk fits your portfolio.
Build a basket around CLNE with Walnut
Use Clean Energy Fuels Corp. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
Is CLNE a good stock to buy right now?
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That depends on your goals, time horizon, and risk tolerance, and this is not investment advice. The bull case is growing RNG volumes, a narrowing loss, positive adjusted EBITDA, and a potential lift from new natural gas truck engines. The bear case is a long history of GAAP losses, heavy dependence on policy-driven credits, slow engine adoption, and competition from diesel and electric fleets. This is a speculative small-cap energy-transition stock. Weigh both against your portfolio.
What does Clean Energy Fuels actually do?
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Clean Energy Fuels supplies natural gas and renewable natural gas as transportation fuel for heavy-duty fleets such as trucks, buses, and refuse haulers. It operates a large network of fueling stations across North America and is expanding into upstream RNG production, including dairy projects that capture methane and process it into low-carbon fuel. It sells fuel, builds and operates stations, and signs long-term fleet supply contracts.
What is renewable natural gas (RNG)?
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Renewable natural gas is methane captured from sources like dairy manure, landfills, and wastewater, then cleaned and processed so it can be used like conventional natural gas. Because it captures methane that would otherwise escape, RNG can carry a low or even negative carbon score and qualify for environmental credits. Those credits and lower lifecycle emissions are central to Clean Energy's pricing and its pitch to fleets.
Is Clean Energy Fuels profitable?
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Not consistently on a GAAP basis. In Q1 2026 the company reported a net loss of about $12.4 million, though that was much smaller than the prior-year quarter, and adjusted EBITDA was positive at roughly $16.6 million. It has a long history of losses tied to a capital-intensive, growth-stage business. Investors focus on RNG volume growth and adjusted EBITDA trends. Always check the latest results for current profitability figures.
Why does the Cummins X15N engine matter for CLNE?
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The Cummins X15N is the first 15-liter natural gas engine for Class 8 long-haul trucks, offering diesel-like performance with lower emissions. Wider adoption would expand the market for Clean Energy's natural gas and RNG and drive more fuel volume through its stations. However, early uptake has been slower than expected due to weak freight demand, higher upfront truck costs, and regulatory uncertainty, so its adoption pace is a key demand driver.
How do government policies affect Clean Energy Fuels?
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Policy is central to RNG economics. Programs such as low-carbon fuel standards and renewable-fuel credits reward low- and negative-carbon fuels, and the value of those credits can materially affect Clean Energy's revenue and margins. Because these programs can change with regulation and politics, results can swing with policy as much as with the amount of fuel sold, adding a layer of risk outside the company's control.
How can I get exposure to Clean Energy Fuels through an ETF?
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CLNE appears in various clean-energy, alternative-fuels, and small-cap ETFs, where it sits among other energy-transition names. ETF exposure spreads single-stock risk across many holdings but dilutes how much any Clean Energy move affects you. Always check a fund's holdings and weighting before assuming meaningful exposure to Clean Energy specifically, since its weight in broad funds is typically small.
What are the main risks of investing in CLNE?
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The central risks are a long history of GAAP losses, heavy dependence on RNG economics and policy-driven environmental credits, and uncertain fleet adoption of natural gas, including the slower-than-hoped Cummins X15N uptake. Competition from diesel, battery-electric, and hydrogen fleet solutions, plus sensitivity to energy prices, freight demand, interest rates, and funding access, all add risk. As a small-cap in a capital-intensive business, the stock can be volatile.
Who are Clean Energy Fuels' major customers?
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Clean Energy serves heavy-duty fleets across trucking, transit, refuse, and logistics, and has signed supply agreements with large customers over the years, including a well-known RNG agreement with Amazon for its natural gas trucks. Winning and renewing multi-year fleet contracts drives recurring fuel volume through its station network. The breadth of its customer base and infrastructure is a competitive asset in the RNG market.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Clean Energy Fuels Corp.'s investor relations page or your broker before making investment decisions.