Actually I don't think the GE deal was the real reason for the stock move.
CLNE had been knocked down to a 52-week low of $10.90 last week, has a 18-days-to-cover short interest and seems to be an Obama stock.
The short is around 47% of the float. Any buying triggers "book that profit" thinking.
Nancy Pelosi is still down on her IPO stock even though it closed at $12.26 up $1.20 (10.85%) .
From Clean Energy Fuels' press release:
GE and Clean Energy Fuels Partner to Expand ‘America’s Natural Gas Highway®’
- Clean Energy to Use GE’s MicroLNG Technology at Two New LNG Facilities
- New MicroLNG Technology Builds on GE Oil & Gas’ Global Success in Large LNG ProjectsHOUSTON—November 13, 2012—GE (NYSE: GE) and Clean Energy Fuels (Nasdaq: CLNE) today announced a collaboration to expand the infrastructure for natural gas transportation in the United States.The agreement supports Clean Energy’s efforts in developing “America’s Natural Gas Highway®,” a fueling network that will enable trucks to operate on Liquefied Natural Gas (LNG) coast to coast and border to border. Truck fleets often can reduce fuel costs by more than 25 percent and lower emissions with LNG.
As part of the collaboration, Clean Energy Fuels will initially purchase two ecomaginationTM-qualified MicroLNG plants from GE Oil & Gas. The plug-and-play modular units, which are designed to rapidly liquefy natural gas while minimizing a site’s physical footprint, will support fueling stations along critical transportation corridors that run across the U.S. Further underscoring GE’s commitment to expanding natural gas transportation infrastructure, GE Energy Financial Services is providing up to $200 million in financing for the two GE MicroLNG plants.“GE is proud to be partnering with Clean Energy Fuels to develop natural gas infrastructure in the U.S. Clean Energy is an industry leader in pioneering a new way for America to fuel its vehicles and to further gain energy independence,” said GE Chairman and CEO Jeff Immelt. “With an abundance of cleaner, more affordable natural gas here in the U.S., this is an important opportunity for GE to join Clean Energy in changing the way America drives. It’s also a critical step in developing a natural gas-for-transportation fuel model that can be easily exported to other countries interested in exactly these kinds of breakthrough projects.”
Clean Energy expects to complete approximately 70 LNG stations by the end of 2012, with more planned for next year to serve the movement of goods along major transportation corridors throughout the U.S. While CNG, or compressed natural gas, is primarily used in cars, buses and smaller trucks, the LNG fueling being rolled out at Clean Energy’s stations is targeted at long-haul, heavy-duty trucks, which will have the advantage of longer driving ranges while not impacting tractor weight and incremental costs. In 2013, four major manufacturers will introduce the Cummins Westport 12-liter LNG engine, which is the optimum size for long-haul Class 8 trucks....MOREI can guarantee both GE and CLNE that I won't be using the trademarked term “America’s Natural Gas Highway®”.
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