Nasdaq-listed natural gas company Clean Energy Fuels, backed by US-based energy company Chesapeake, has received $150m in backing from two investment vehicles affiliated to Singaporean sovereign wealth fund Temasek as well as from private equity firm RRJ Capital.
Temasek subsidiary Springleaf Investments as well as Seatown Holdings, which was set up by Temasek last year, both invested in the company, as did RRJ Capital, an investment firm set up by Goldman Sachs’ former China co-head Richard Ong.
The investment came after Clean Energy Fuels was backed by Chesapeake NG Ventures, the corporate venturing unit of the energy company, with another $150m investment last month.
Aubrey McClendon, chief executive of Chesapeake Energy Corporation, said: "We are pleased to have introduced Clean Energy to our friends at Temasek, Seatown and RRJ, and we see this commitment by these major global investors as being very beneficial to increasing the demand for natural gas in North America and also to keeping Clean Energy in the lead for providing natural gas vehicle fueling and deployment solutions in North America."