OPAL Fuels Announces Closing of a $105 Million Senior Secured Debt FacilityDownload PDF
WHITE PLAINS, N.Y. – (August 8, 2022) – OPAL Fuels Inc. (Nasdaq: OPAL), a vertically integrated producer and distributor of renewable natural gas (RNG), today announced the closing of a five-year, $105 million senior secured debt facility. The facility provides construction financing for designated OPAL Fuels projects upon achieving certain milestones. The lending syndicate is comprised of Investec, Bank of Montreal, and Comerica Bank.
“The closing of our senior secured debt facility today, combined with the $215.8 million generated from the recent completion of our business combination with ArcLight Clean Transition Corp. II, will facilitate execution of our growth plan,” said Adam Comora, Co-CEO of OPAL Fuels. “We believe these transactions are a testament to the strength of our vertically integrated RNG platform and continued awareness of the pivotal role that RNG plays in decarbonizing the heavy-duty transportation industry now.”
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 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. OPAL Fuels 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, the company delivers best-in-class, 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.
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