Clean Energy Adds Two Total S.A. Executives to Board of Directors; Founder Boone Pickens to Become Director Emeritus
Clean
Energy Fuels Corp.’s (Nasdaq: CLNE)
today announced that it has added two
senior executives from Total S.A. (CAC: TOTF. PA) to its Board of
Directors. The appointment of Momar Nguer, President of Total Marketing
Services S.A. (TMS), a wholly owned subsidiary of Total, and Philippe
Montantême, Senior Vice President, Strategy Marketing Research of TMS,
is effective immediately. Total, one of the largest energy companies in
the world, purchased a 25%
stake in Clean Energy through Total Marketing in June of this year.
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Momar Nguer, President of Total Marketing Services S.A. (TMS) (Photo: Business Wire)
Clean Energy also announced that the co-founder of the company, T.
Boone Pickens, notified the board that he has decided to retire as a
director as part of his recent curtailment in his business activity. The
board of directors voted to designate Mr. Pickens Director Emeritus,
which will entitle him to attend future Board meetings.
“Clean Energy is incredibly fortunate to have had the entrepreneurial
leadership for the last 23 years of one of history’s great wildcatters
in Boone. His vision in the establishment of and continued contribution
to Clean Energy and its successes is hard to measure,” said Andrew
J. Littlefair, president and CEO of Clean Energy. “But as the company
has moved into its own leadership position in the alternative fuel
market, we will benefit greatly from the guidance and counsel of two
seasoned executives of one of the world’s most visionary energy
companies in Momar and Philippe.”
“There remains no greater believer in the potential of natural gas as a heavy-duty
fuel than me,” said Pickens, who turned 90 earlier this year. “I’m
grateful for the recognition Clean Energy has given me. This transition
to Director Emeritus will allow me to more fully focus on recovering
from some recent health setbacks. I plan on staying involved with the
company. In stepping back a bit, I’m confident in the company’s great leadership
and that its new partnership with Total will be pivotal to its long-term
success.”
“As a global energy player, Total is particularly excited by the role
natural gas is playing in transportation, particularly the heavy-duty
market,” said Mr. Nguer. “Philippe and I look forward to working
with our fellow Clean Energy Board members and its executive team to
deepen the relationship so that we can leverage the strengths of the two
companies to grow the natural gas fueling market.”
Mr. Nguer, 62, currently serves as President of TMS and as a member of
the Executive Committee of the Total group of companies (referred to as
the Total Group). He joined the Total Group in 1984, serving in various
downstream positions. Mr. Nguer was appointed to his current positions
with Total and TMS in April 2016. He has also served as a member of the
Total Group’s Performance Management Committee since January 2012, and
Chairman of the Group Diversity Council since August 2015. Mr. Nguer
received a Master in Public Law from the University of Paris and a MBA
from ESSEC Business School.
Mr. Montantême, 58, currently serves as Senior Vice President, Strategy
Marketing Research of TMS. He joined the Total Group in 1984 and served
in various operational positions in France and Africa. In July 2013, he
was appointed to his current position with Total Marketing. He graduated
as a Chemical Engineer from the École Nationale Supérierure de Chimie in
Toulouse and also holds an MBA from the EM Lyon Business School.
About Clean Energy
Clean Energy Fuels Corp. is the leading provider of natural gas fuel and
renewable natural gas (RNG) fuel for transportation in the United States
and Canada, with a network of approximately 530 stations across North
America that we own or operate. We build and operate compressed natural
gas (CNG) and liquefied natural gas stations (LNG) stations and deliver
more CNG, LNG and RNG vehicle fuel than any other company in the United
States. Clean Energy sells Redeem™ RNG fuel and believes it is the
cleanest transportation fuel commercially available, reducing greenhouse
gas emissions by up to 70%. Clean Energy owns natural gas liquification
facilities in California and Texas which produces LNG for the
transportation and other markets. For more information, visit www.CleanEnergyFuels.com.
Cautionary Note regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, including statements about, among
other things: the impact of the company’s relationships with Total,
including the director appointments described in this press release, on
the company and its business; the company’s leadership position in the
alternative fuels market; the company’s ability to achieve long-term
success; the role of natural gas in the transportation market,
particularly the heavy-duty market; the growth of the natural gas
fueling market and the impact on this growth of the company’s
partnership with Total.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual achievements,
performance or other events to be materially different from any future
achievements, performance or other events expressed or implied by the
forward-looking statements. Factors that might cause or contribute to
such differences include, among others: future supply, demand, use and
prices of crude oil, gasoline, diesel, natural gas, other vehicle fuels,
and heavy-duty trucks and other vehicles and engines powered by these
fuels, including overall levels of and volatility in these factors; the
willingness of fleets and other consumers to adopt natural gas as a
vehicle fuel, and the rate of any such adoption; the company’s ability
to execute its strategic initiatives related to the market for natural
gas heavy-duty trucks, one of the Company’s target customer markets, and
the impact of these initiatives on company and its industry; the
company’s ability to capture a substantial share of the market for
alternative vehicle fuels and vehicle fuels generally and otherwise
compete successfully in these markets; the company’s ability to execute
and realize the intended benefits of any large or strategic measures,
transactions or relationships, including, for example, the investment by
Total in the company and the company’s other relationships with this
organization; the company’s ability to accurately predict natural gas
vehicle fuel demand in the geographic and customer markets in which it
operates and effectively calibrate its strategies, timing and levels of
investments to be consistent with this demand; the company’s ability to
manage and grow its RNG business; changes to federal, state or local
greenhouse gas emissions regulations or other environmental regulations
applicable to natural gas production, transportation or use, including
regulations governing environmental, tax and other government programs
and incentives that promote natural gas or other alternatives as a
vehicle fuel; and general political, regulatory, economic, market and
other conditions.
As a result of these and other potential risks and uncertainties, the
forward-looking statements made in this press release should not be
relied on or viewed as predictions of future events. All forward-looking
statements in this press release are made only as of the date of this
press release and, except as required by law, the company undertakes no
obligation to update publicly any forward-looking statements for any
reason, including to conform these statements to actual results or to
changes in expectations. Additionally, the reports and other documents
the company files with the Securities and Exchange Commission (SEC),
available at www.sec.gov,
contain additional information about these and other risk factors that
may cause actual results to differ materially from the forward-looking
statements contained in this press release.
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