Newport Beach-based alternative fuel developer and supplier Clean Energy Fuels Corp. sold its majority stake in a biomethane production facility in Dallas to a minority owner for $40.6 million.
Terms of the sale of the McCommas Bluff landfill gas processing plant include the potential for another $3 million based on future performance tests of the facility that are scheduled to be done early this year.
Buyer Cambrian Energy Development LLC in Los Angeles has been a partner with Clean Energy since 2008, when the two companies acquired the McCommas Bluff facility, the third-largest landfill gas operation in the U.S.
The sale came as Clean Energy began production at a new biomethane facility it owns in Tennessee.
