Amazon Inc. said it has inked a five-year contract for renewable natural gas (RNG) with Clean Energy Fuels Corp. and could take up to a 20% stake in the fuel supplier over the next decade.

Beginning last Friday (April 16), RNG is to be provided to Amazon.com NV Investment Holdings LLC through 27 existing fueling outlets and 19 new fueling stations expected to be operational later this year. The stations are spread over 15 states.

In addition, Clean Energy issued a warrant to Amazon’s investment unit to purchase in tranches more than 53.1 million shares at a price of $13.49 each through April 16, 2031. The first tranches are for 13.3 million shares in connection to the fuel agreement, Clean Energy spokesperson Raleigh Gerber said. “The other tranches vest as Amazon purchases...