Clean Energy’s IMW Subsidiary to Supply up to 416 CNG Compressors to China Gas for the Construction of 310 CNG Stations in

  Clean Energy’s IMW Subsidiary to Supply up to 416 CNG Compressors to China
  Gas for the Construction of 310 CNG Stations in China

Business Wire

CHILLIWACK, British Columbia -- August 29, 2013

IMW Industries, Ltd., a wholly-owned subsidiary of Clean Energy Fuels Corp.
(Nasdaq:CLNE), today announced a master purchase contract with China Gas
Holdings Ltd. (SEHK:384) to supply up to 416 natural gas compressors and
related technologies for the construction of up to 310 public access
compressed natural gas (CNG) stations in China. The three-year agreement has a
potential value of approximately U.S. $167 million.

China Gas CEO Mr. Lui Ming Hui shakes hands with Export Development Canada
(EDC) Senior Vice Preside ...

China Gas CEO Mr. Lui Ming Hui shakes hands with Export Development Canada
(EDC) Senior Vice President of Financing, Benoit Daignault at a signing
ceremony at EDC headquarters today in Ottawa, Ontario. Also photographed (from
left) IMW Shanghai CEO Kirk Livingston and Clean Energy COO Mitchell W. Pratt.
(Photo: Business Wire)

“The spirit of China Gas is built on integrity, innovation and cooperation;
our agreement today with IMW is an example of this spirit in practice,” said
Mr. Liu Ming Hui, executive chairman, managing director and president of China
Gas Holdings. “IMW is the world-leader in natural gas vehicle compression
technologies and the ideal strategic partner for China Gas as we continue to
meet the growing transportation needs of our customers in an environmentally
sustainable manner.”

Under the agreement, IMW anticipates supplying a suite of its CleanGAS
Technology^TM products and services, including up to approximately 416
CleanCNG Compressors^TM, 186 dryers, 527 dispensers, and 387,500 liters of
buffer storage to China Gas’ joint venture distribution partners for the
construction of up to 310 stations. This is in addition to the 124 stations
IMW has already equipped in China; all equipment is manufactured at IMW’s
facility in Suzhou-Taicang, China.

“China has grasped the potential of natural gas as an alternative to gasoline
and diesel fuel and is aggressively building the necessary infrastructure to
realize this potential,” said Andrew J. Littlefair, president and CEO of Clean
Energy. “In the coming years, China Gas and its partners plan to construct the
equivalent of over half of all the public access CNG stations currently
available in the United States—significant for our companies and the future of
cleaner transportation in China.”

China Gas has secured financing for this transaction from Export Development
Canada, which is expected to be utilized throughout the three-year agreement
to help purchase the products and services under the purchase contract. An
initial $5 million has been utilized for the purchase of 29 CleanCNG
Compressors, which are anticipated to be delivered during the fourth quarter
of 2013 and used to construct the first 19 stations.

“IMW is proud of the long term partnership we have developed with China Gas
and we are eager to build this relationship through our continued support of
their growth,” added Brad Miller, president of IMW.

ABOUT IMW INDUSTRIES

IMW Industries is the largest sole manufacturer of non-lubricated natural gas
compressors and related technologies for natural gas fueling applications in
the world. IMW’s products are manufactured in Chilliwack, British Columbia,
Ferndale, Washington, and Shanghai, China, and are utilized at private and
public access fueling stations, as virtual pipelines and in industrial gas
solutions. Headquartered in Chilliwack, British Columbia, IMW is a
wholly-owned subsidiary of Clean Energy Fuels Corp. (Nasdaq:CLNE), the largest
provider of natural gas fuel for transportation in North America. For more
information, visit www.imw.ca.

ABOUT CHINA GAS

China Gas Holdings Limited (“China Gas,” SEHK:384) is principally engaged in
the investment, construction and management of city gas pipeline
infrastructure, distribution of natural gas and LPG to residential,
industrial, commercial users, and through gas stations to the transportation
sector. Major shareholders of the Company include the Beijing Enterprises
Group (BVI) Company Limited, SK group of companies, Fortune Oil PLC in UK,
Sinopec, the second largest petroleum and natural gas producer in China, and
Gail (India) Limited.To date, China Gas owns a total of 194 natural gas
projects, including exclusive piped gas development rights in 184 cities and
regions, 9 natural gas pipeline transmission projects, 1 natural gas
exploration project, as well as the license to import and export LNG and other
fuel products in China, and 44 LPG distribution projects.

Forward-Looking Statements

This news 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 that involve risks, uncertainties and assumptions,
including statements about the number of natural gas vehicle fueling stations
to be constructed by China Gas and its partners, the amount of compressors and
other equipment to be sold by IMW to China Gas and its partners, the economic
value of the master purchase agreement and any equipment supplied thereunder,
the availability of financing from Export Development Canada and the benefits
of natural gas relative to gasoline and diesel fuel. Actual results and the
timing of events could differ materially from those anticipated in these
forward-looking statements as a result of several factors, including, but not
limited to, failure by China Gas and its partners to build the expected
stations and/or purchase compressors and equipment from IMW. The
forward-looking statements made herein speak only as of the date of this press
release and, unless otherwise required by law, the Company undertakes no
obligation to publicly update such forward-looking statements to reflect
subsequent events or circumstances. Additionally, the reports and other
documents the Company files with the SEC (available at www.sec.gov) contain
risk factors, which may cause actual results to differ materially from the
forward-looking statements contained in this news release.

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Contact:

Clean Energy Fuels Media Contact:
Patric Rayburn
Public Relations Manager
949-437-1411
patric.rayburn@cleanenergyfuels.com
or
Clean Energy Investor Contact:
Tony Kritzer
Director, Investor Relations
949-437-1403
tkritzer@cleanenergyfuels.com
 
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