Clean Energy Fuels Corp. announced a $12.1 million contract to design, build, and maintain a new hydrogen fueling station at the Gold Coast Transit District’s (GCTD) Oxnard facility. The station will initially fuel five fuel‑cell buses and is part of GCTD’s plan to transition roughly 70 vehicles to zero‑emission buses by 2040. The project is funded by a matching grant from the U.S. Department of Transportation’s Federal Transit Administration and includes a five‑year maintenance agreement that will generate recurring revenue for Clean Energy.
The contract builds on Clean Energy’s existing relationship with GCTD, which currently operates a natural‑gas station supplied with renewable natural gas (RNG) for a 61‑vehicle fleet. By adding hydrogen, the company expands its clean‑fuel portfolio and positions itself to capture growing demand for zero‑emission transit solutions in California, a state that has mandated a transition to zero‑emission buses by 2040 under the Innovative Clean Transit regulation. The station is expected to be completed in 2027, giving the company a long‑term foothold in a high‑growth market.
Clean Energy’s recent financial performance underscores the strategic importance of the contract. In Q3 2025 the company reported revenue of $106.1 million, a beat on analyst expectations, but a net loss of $23.8 million, reflecting ongoing investments in infrastructure and technology. Adjusted EBITDA reached $17.3 million, indicating that the company is generating positive operating cash flow despite the loss. Cash reserves stood at $232 million as of September 30, 2025, providing a cushion to fund large capital projects such as the GCTD hydrogen station. Management noted that the company is “meeting its raised guidance for 2025” and that RNG volumes remain strong, supporting continued growth in the clean‑fuel segment.
CEO Andrew Littlefair highlighted the contract as a “strategic milestone” that demonstrates Clean Energy’s ability to deliver end‑to‑end clean‑fuel solutions. Senior Vice President Chad Lindholm expressed satisfaction with the partnership, emphasizing the company’s role in helping transit agencies transition to hydrogen. GCTD General Manager Vanessa Rauschenberger said the hydrogen transition aligns with the district’s climate action plan and will provide greener options for the community.
The contract also signals Clean Energy’s competitive positioning in a crowded hydrogen market. The company’s first hydrogen station, built for Foothill Transit in 2021, established a track record that now supports additional projects. By securing federal grant funding, Clean Energy reduces the financial burden on the transit agency and positions itself as a preferred partner for future hydrogen infrastructure projects across California. The deal is expected to strengthen the company’s revenue mix and support its long‑term strategy of expanding clean‑fuel offerings beyond RNG.
The market reaction to the announcement has been tempered by investor focus on profitability. While the contract win is positive, Clean Energy’s continued net losses and the broader challenge of achieving profitability in a capital‑intensive industry have kept investor sentiment cautious. Nonetheless, the company’s ability to secure federal funding and expand its hydrogen footprint is viewed as a long‑term growth driver.
Overall, the $12.1 million hydrogen station contract represents a significant expansion of Clean Energy’s clean‑fuel infrastructure, deepens a key customer relationship, and positions the company to capitalize on California’s aggressive zero‑emission transit agenda. The deal underscores the company’s strategic focus on decarbonizing transportation while highlighting the ongoing need to balance growth with profitability.
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