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SandRidge Permian Trust further depress the trading price of the trust 300% depending on the source of the RNG.
Estes purchased the trucks through Clean
units. There is no assurance that an active
announces update on NYSE market in the trust units will develop on OTC Energy’s Zero Now programme, which brings
Pink.
the price of a natural gas truck at parity with a
delisting SANDRIDGE PERMIAN TRUST, September 09, diesel truck, while offering a guaranteed fuel
discount for the duration of the agreement.
2020
Sandridge Permian Trust today announced For Estes, this represents a geographical
that it has received notification from the expansion of its current 21 ultra clean truck
New York Stock Exchange (NYSE) of its ENERGY TRANSITION fleet currently operating out of Texas, and also
determination to suspend trading of the trust’s fuelled by Redeem.
units of beneficial interest, effective as of the Estes Partners with Clean “Switching to trucks fuelled with ultra-low
close of trading on September 8, 2020, and to carbon fuel is vital to improving air quality
initiate proceedings to delist the Trust units. Energy to expand natural and fighting climate change in the regions that
The determination to commence the delisting we serve,” said Estes chief executive officer
proceeding results from the trust’s inability gas vehicle fleet and president, Rob Estes. “Clean Energy’s
to satisfy the continued listing compliance Zero Now program has enabled us to switch
standards set forth under Rule 802.01C of the Clean Energy Fuels, the leading provider of to cleaner fuel and engine technologies that
NYSE Listed Company Manual because the natural gas fuel for transportation in North make financial sense – so it’s a win on several
average closing price of the Trust units fell America, announced that Estes Express Lines levels.”
below $1.00 over a 30 consecutive trading-day will add to its fleet 50 new trucks fuelled “By adding 50 clean, sustainable natural
period that ended December 24, 2019, and the with Redeem™ renewable natural gas (RNG), gas trucks to its fleet, Estes demonstrates
Trust was unable to regain compliance with bringing its total to 71. their leadership in the drive to lower the
the applicable standards within a cure period Estes, the nation’s largest privately-owned carbon footprint by the heavy-duty trucking
that concluded on September 5, 2020. freight transportation carrier, is acquiring industry,” said Brett Lindsay, vice president of
As a result of the suspension, the trust the Class 8 natural gas trucks equipped with Clean Energy. “With the support of our Zero
expects that the trust units will begin trading the Cummins Westport ultra-clean ISX12N Now programme, Estes has been able to easily
on September 9, 2020 under the symbol engine for its California fleet, and is expected and quickly switch a growing number of their
“PERS” on the OTC Pink Market, which to use an approximate 2.8 million gallons of trucks to RNG, significantly decreasing the
is operated by OTC Markets Group. To be RNG over the seven-year contract. environmental impact of their operations.”
quoted on OTC Pink, a market maker must Clean Energy’s Redeem was the first “Transitioning to natural gas has allowed
sponsor the security and comply with SEC commercially available RNG vehicle Estes to set a new standard for the trucking
Rule 15c2-11 before it can initiate a quote in fuel, derived from capturing the biogenic industry on how to be operationally
a specific security. OTC Pink is a significantly methane produced by the decomposition successful,” said Mike Palmer, Estes Vice
more limited market than the NYSE, and the of organic waste from dairies, landfills, President of Fleet Services. “The trucks are
quotation of the Trust units on OTC Pink and wastewater treatment plants. Redeem performing well.”
may result in a less liquid market available for reduces climate-harming greenhouse gas CLEAN ENERGY FUELS, September 09, 2020
existing and potential unitholders and could emissions by at least 70%, and even up to

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