T. Boone Pickens, co-founder and the largest shareholder in Clean Energy Fuels, sold 697,860 shares of the company’s stock last week.
The stock was sold at an average price of US$4.93, for a total transaction of $3.44 million, according to a filing with the Securities & Exchange Commission.
Pickens plans to sell up to 3 million of his shares in Clean Energy, a provider of LNG and CNG as fuel for transportation in North America.
Clean Energy’s CEO Andrew J. Littlefair said in a statement issued on Friday that Pickens still remains “ as bullish as ever on the company’s future and the benefits of natural gas as a transportation fuel, validated by the growing number of vehicle fleets fueling at Clean Energy stations. ”
“ Boone will continue to be our largest shareholder, an active member of the company’s board of directors and a valuable energy expert for us to tap into,” he added.