What happened Shares of Clean Energy Fuels (NASDAQ: CLNE) soared Monday morning after the company announced an agreement with Amazon (NASDAQ: AMZN). After initially jumping more than 25%, shares remained up almost 16% as of 11 a.m. EDT. So what The agreement calls for Clean Energy Fuels to provide Amazon low- and negative-carbon renewable natural gas (RNG) in 15 different states. The supply will come from 27 existing Clean Energy fueling stations, and another 19 that the company plans to have built or refurbished by the end of the year. The fuel agreement also includes a warrant for Amazon to purchase up to about 53 million shares of Clean Energy common shares. Image source: Getty Images. Now what Clean Energy Fuels provides the transportation sector with RNG derived from methane produced by the breakdown of organic waste in landfills, large dairy farms, and sewage plants. Amazon has committed to a Climate Pledge agreement it co-founded, calling for achieving net-zero carbon emissions by 2040. The agreement includes incentives for Amazon to purchase the clean fuel as shares from the warrant will vest in tranches based on fuel purchases. The first 25% of shares will vest initially, but subsequent tranches will vest based on purchases up to $500 million. Clean Energy CEO and president Andrew J. Littlefair said in a statement, "If the world is really going to tackle the issue of climate change, all of us need to find solutions that work both environmentally and economically, and that is exactly what this agreement supports." The company reported $75 million in revenue for the fourth quarter of 2020, with fuel deliveries decreasing by 7% compared to the prior-year quarter. Clean Energy will report its first-quarter 2021 results on May 6. 10 stocks we like better than Clean Energy FuelsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Clean Energy Fuels wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Howard Smith owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends Clean Energy Fuels and recommends the following options: long January 2022 $1920.0 calls on Amazon and short January 2022 $1940.0 calls on Amazon. The Motley Fool has a disclosure policy.Source