Project is expected to produce approximately 5
million gasoline gallon equivalent (GGE) of RNG annually
OPAL Fuels Inc. (Nasdaq: OPAL), a leading vertically integrated
producer and distributor of renewable natural gas (RNG), announced
Florida’s first landfill gas to RNG facility at the New River Solid
Waste Association (NRSWA) municipal solid waste landfill has
successfully completed its ramp-up period.
Located in Raiford, Florida, the facility captures naturally
occurring biogas from the decomposition of organic material at the
landfill and refines it into RNG, a usable low-carbon fuel. RNG is
a right now solution to the right now problem of climate change and
is one of the most attractive sources of renewable energy –
capturing extremely damaging greenhouse gas emissions (GHG) and
using it to replace fossil fuels, such as diesel.
The RNG will be used to feed OPAL Fuels transportation customers
at the company’s fueling stations via the Peoples Gas distribution
system. Peoples Gas System is Florida’s largest natural gas
distribution utility, serving more than 445,000 homes and
businesses across the state.
“Through our vertical integration model, from production through
distribution, OPAL Fuels is committed to providing our customers
with cost effective, reliable transportation fuel that results in
zero Scope 1 and Scope 2 emissions,” said Adam Comora, Co-CEO of
OPAL Fuels. “We are pleased to partner with local stakeholders
across Florida and to have brought the state its first RNG project.
Working together with NRSWA, this facility produces new revenue
streams, new jobs for the county, and provides cost savings for our
customers – enabling companies to achieve net zero now at a
discount. It also reduces greenhouse gas emissions locally and for
the planet. This is a win for everyone.”
The RNG facility has a nameplate capacity of 2,500 SCFM of
landfill gas, which when processed would result in the production
of approximately 5 million GGE per year of RNG. This RNG, when used
as transportation fuel to displace diesel, will avoid GHG emissions
equivalent to achieving zero Scope 1 and Scope 2 emissions from
more than 380 heavy-duty trucks.
Additionally, the process of refining the biogas results in
significant reductions in local emissions, including approximate
decreases of 95% in carbon dioxide (CO2) emissions, 90% in nitrogen
oxide (NOx) emissions, 90% in carbon monoxide (CO) emissions, and
98% in sulfur oxide (SOx) emissions.
The NRSWA municipal solid waste landfill is a publicly owned
waste facility formed as an association of three member Florida
counties: Baker, Bradford, and Union Counties. The association also
accepts contracted waste from out-of-region locations.
“NRSWA is excited about partnering with OPAL Fuels on this
important and industry leading project,” said Perry Kent, Executive
Director, NRSWA. “This is the first project in Florida to convert
gas from a municipal solid waste landfill to RNG and we are happy
we have been able to lead the way. New River has always worked to
manage solid waste in a sustainable way and to be good stewards of
the environment. This project is one more step toward New River
becoming a fully sustainable solid waste treatment facility.”
Through investments in people, technology, infrastructure, and
environmentally focused innovations, Peoples Gas is committed to
fueling Florida’s clean energy future responsibly and sustainably.
Peoples Gas is a subsidiary of Emera Inc., a geographically diverse
energy and services company headquartered in Halifax, Nova Scotia,
Canada.
“Peoples Gas is invested in diverse energy solutions to serve
the growing needs of Floridians,” said Lew Rutkin, Vice President
of Business Development for Peoples Gas. “By collaborating with
OPAL Fuels, we are enabling access to RNG, and we are providing a
clean pathway to meaningful reduction in greenhouse gas emissions
for the state.”
About OPAL Fuels Inc.
OPAL Fuels Inc. (Nasdaq: OPAL) is a leading vertically
integrated renewable fuels platform involved in the production and
distribution of renewable natural gas (RNG) for the heavy-duty
truck market. RNG is a proven low-carbon fuel that is rapidly
decarbonizing the transportation industry now while also
significantly reducing fuel costs for fleet owners. OPAL Fuels
captures harmful methane emissions at the source and recycles the
trapped energy into a commercially viable, lower-cost alternative
to diesel fuel. The company also develops, constructs, and services
RNG and hydrogen fueling stations. As a producer and distributor of
carbon-reducing fuel for heavy-duty truck fleets for more than a
decade, OPAL Fuels delivers complete renewable solutions to
customers and production partners. To learn more about OPAL Fuels
and how it is leading the effort to capture North America’s harmful
methane emissions and decarbonize the transportation industry,
please visit www.opalfuels.com and follow the company on LinkedIn
and Twitter at @OPALFuels.
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”) 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
proxy statement/prospectus filed on June 21, 2022, in connection
with our Registration Statement on Form S-4, and other filings 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.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230104005898/en/
Media Jason Stewart Senior
Director Public Relations and Marketing 914-421-5336
jstewart@opalfuels.com ICR, Inc. OPALFuelsPR@icrinc.com
Investors Todd Firestone Vice
President Investor Relations and Corporate Development 914-705-4001
investors@opalfuels.com
OPAL Fuels (NASDAQ:OPAL)
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