CVX Chevron Corporation

By Chris Wack

Clean Energy Fuels Corp. shares were up 19% to $2.63 after Chevron said it is partnering with the California natural gas retailer on Adopt-a-Port, an initiative that provides truck operators serving the ports of Los Angeles and Long Beach with cleaner, carbon-negative renewable natural gas to reduce emissions.

Chevron will provide funding for Adopt-a-Port and supply RNG to Clean Energy stations near the ports. Chevron's funding will allow truck operators to subsidize the cost of buying new RNG-powered trucks. Clean Energy, meanwhile, will manage the program, including offering fueling services for qualified truck operators.

Clean Energy said truck operators participating in the program will fuel up at the Clean Energy stations supplied with Chevron RNG. The stations will help local communities by reducing smog-forming NOx emissions by 98% compared to diesel trucks while also eliminating climate pollutants.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

July 08, 2020 10:30 ET (14:30 GMT)

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