Clean Energy Fuels Corp.

Hello, and welcome to the Clean Energy 4th Quarter 2021 Earnings Call. All participants will be in listen-only mode. Should you need assistance, please schedule a conference specialist for pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your touchtone phone. To withdraw your question, please press star, then two. Please note, today's event is being recorded. And now I'd like to turn the conference over to Robert Vreeland, CFO. Please go ahead, sir.

Thank you, operator. Earlier this afternoon, Clean Energy released financial results for the quarter and year ending December 31st, 2021. If you did not receive the release, it is available on the investor relations section of the company's website at www.cleanenergyfuels.com, where the call is also being webcast. There will be a replay available on the website for 30 days. Before we begin, we'd like to remind you that some of the information contained in the news release and on this conference call contains forward-looking statements that involve risk, uncertainties, and assumptions that are difficult to predict. Words of expression reflecting optimism, satisfaction with current prospects, as well as words such as believe, intend, expect, plan, should, anticipate, and similar variations identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Such forward-looking statements are not a guarantee of performance and the company's actual results could differ materially from those contained in such statements. Several factors that could cause or contribute to such differences are described in detail in the risk factor section of Clean Energy's most recently filed Form 10-Q filed in November of 2021 or in our Form 10-K that will be filed later today. These forward-looking statements speak only as the date of this release. The company undertakes no obligation to publicly update any forward-looking statements or supply new information regarding the circumstances after the date of this release. The company's non-GAAP EPS and adjusted EBITDA will be reviewed on this call and exclude certain expenses that the company's management does not believe are indicative of the company's core business operating results. Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered as a substitute for or superior to GAAP results. The directly comparable GAAP information, reasons why management uses non-GAAP information, a definition of non-GAAP EPS and adjusted EBITDA, and a reconciliation between these non-GAAP and GAAP figures is provided in the company's press release, which has been furnished to the SEC on Form 8-K today. With that, I will turn the call over to our President and Chief Executive Officer, Andrew Littlefair.

Thank you, Bob. Good afternoon, everyone, and thank you for joining us. I think my remarks could be a little shorter today because hopefully you were able to watch our RNG Day presentation last month. We went into some detail about our strategy to expand our business by investing in the production of RNG, which allows us to deliver this incredibly clean fuel to a growing customer base. If you haven't been able to watch the presentation, I highly encourage you to do so. A recording of the presentation can be found on the investor page on Clean Energy's website. Despite the country and the world having to grapple with the COVID pandemic's ups and downs throughout 2021, the year ended up being one of the most strategically important since Boone Pickens and I founded Clean Energy 25 years ago. Early in the year, we established joint ventures with BP and Total Energies to work together and build a steady supply of low carbon RNG for the future. And soon after, we signed the company's largest fuel deal ever with Amazon. And our transformation into the leading provider of a negative carbon intensity fuel continued through the remainder of 2021 with the signing of partnerships with some of the country's largest dairies. In the fourth quarter of the year, the company delivered 105 million gallons, which was a 9% increase over the fourth quarter of 2020, and the most gallons we've ever delivered in a quarter in the company's history. We continue to see solid gains in rough use and transit, while the deployment of Amazon's new fleet began to provide a lift to our heavy-duty truck sector. Our revenue for the quarter was $92 million, an increase of 23% compared to the same quarter in the previous year. Deducting a few non-cast charges, including the Amazon warrant, the increase in revenue would have been close to 26%.