RTTNews | Apr 19, 2021 10:10AM EDT

10:10 Monday, April 19, 2021 (RTTNews.com) - Shares of Clean Energy Fuels Corp. (CLNE) are climbing more than 19% Monday morning on the news of it signing a fuel supply agreement with Amazon to provide low and negative carbon renewable natural gas (RNG).

"If the world is really going to tackle the issue of climate change, all of us need to find solutions that work both environmentally and economically, and that is exactly what this agreement supports," said Andrew J. Littlefair, CEO and president of Clean Energy.

The fuel will be provided at 27 existing Clean Energy fueling stations and another 19 upgraded or new fueling stations are expected to be ready by the end of the year.

Separately, clean energy has issued warrants to Amazon to purchase up to 53.14 million shares. The first trance of 13.28 million warrant shares vested in connection with the execution of the fuel supply agreement. Subsequent tranches will vest based on fuel purchases by Amazon and its affiliates, reaching up to $500 million.

The vested Warrants may be exercised at any time before April 16, 2031 at an exercise price of $13.49.

CLNE, currently at $13.27, has been trading in the range of $1.67- $19.79 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3186048/stock-alert-clean-energy-fuels-jumps-19-on-deal-with-amazon.aspx)

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