Press Release

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Oct. 31, 2024-- OPAL Fuels Inc. (Nasdaq: OPAL) today announced the start of commercial operations at its renewable natural gas (RNG) facility at the Polk County municipal landfill in Jones Corner, Florida, marking the company’s eleventh operational RNG project and second facility in the state. Owned and operated by Polk County’s municipal government, the landfill is now providing biogas to OPAL’s RNG project which is producing and injecting pipeline-quality RNG.

With a nameplate design capacity of approximately 1.1 million MMBtu (8.5 million gasoline gallon equivalents) of RNG per year, the product RNG will be primarily used to replace diesel transportation fuel to lower fleet operating costs and reduce greenhouse gas emissions resulting in a significant impact on public health and the environment. This reduction is equivalent to achieving zero Scope 1 and Scope 2 emissions from over 900 heavy-duty trucks.

The commercial operations of OPAL’s Polk County RNG facility represents a significant step forward for OPAL Fuels' mission of providing “Cleaner, Cheaper, Now” fuel solutions. This initiative is crucial in promoting sustainable energy solutions that benefit both the environment and the economy.

“Polk County’s partnership with OPAL Fuels demonstrates our commitment to Polk County’s residents,” said Polk County Board Chairman Bill Braswell. “Polk County is leveraging the by-product of waste breakdown and, at the same time, reducing greenhouse gas emissions. With the plant OPAL Fuels has constructed, landfill biogas will be turned into renewable natural gas, which can be used for fuel to power waste trucks, and provide energy for homes, and businesses. This is a win-win for taxpayers and the environment.”

“Polk County represents our eleventh operational RNG project and our third to commence commercial operations this year,” said Adam Comora, co-CEO of OPAL Fuels. “Including Polk County and our recent announcement with GFL at the Sapphire project, we have approximately 8.8 million MMBtu of annual nameplate design capacity in operation, up 5.0 million MMBtu since becoming a public company in 2022.”

“We’re pleased with the progress we’ve made as the largest publicly traded integrated RNG operator in North America. We continue to execute on our strategic objectives, moving RNG projects forward from construction into operation while growing our fueling station business and expanding our integrated footprint,” continued Comora.

About OPAL Fuels Inc.

OPAL Fuels Inc. (Nasdaq: OPAL) is a leader in the capture and conversion of biogas into low carbon intensity RNG and renewable electricity. OPAL Fuels is also a leader in the marketing and distribution of RNG to heavy duty trucking and other hard to de-carbonize industrial sectors. For additional information, and to learn more about OPAL Fuels and how it is leading the effort to capture North America’s naturally occurring methane and decarbonize the economy, please visit www.opalfuels.com.

About Polk County

Ideally located between the Orlando and Tampa metro regions along the I-4 corridor, Polk County is the fastest growing county in Florida. By land, it is larger than the state of Rhode Island, stretching more than 2,000 square miles. Nearly 30,000 people moved the county in 2023, and more than 800,000 people call Polk County home.

Forward-Looking Statements

Certain statements in this communication may be considered forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events or OPAL Fuels’ (the “Company’s”) future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include various factors beyond management’s control, including, but not limited to, general economic conditions and other risks, uncertainties and factors set forth in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.

Disclaimer

This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

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For OPAL Fuels
Todd Firestone
Vice President Investor Relations and Corporate Development
914-705-4001
investors@opalfuels.com

Media
Zach Gorin
ICR, Inc.
OPALFuelsPR@icrinc.com

Source: OPAL Fuels, Inc.