Legendary oilman T. Boone Pickens has invested another $30 million in his Seal Beach-based Clean Energy Fuels Inc., a provider of natural gas for buses, taxis and other alternative-fuel vehicles.
The 77-year-old Pickens already owns just less than half of the privately held company, which sells compressed natural gas.
Pickens, who earned his spurs with Mesa Petroleum Corp. and became a corporate raider in the 1980s, has pumped millions into Clean Energy since he founded the business in the late 1980s.
Pickens initially invested $20 million to start the company.
“People didn’t want to make a change then,” Pickens said in an interview from his Del Mar home. “Everybody was somewhat against us. We are making a profit now.”
Clean Energy, which is projected to generate about $100 million in revenue this year, is poised to make its largest acquisition yet, having notched up a handful of buys in the past few years, according to Pickens.
For more on this story, see the Oct. 17 edition of the Business Journal.
