OPAL Fuels (OPAL)

The company captures biogas from sources such as landfills and other organic waste streams, upgrades it into pipeline-quality renewable natural gas, and markets that fuel to customers seeking lower-carbon alternatives to conventional diesel or fossil natural gas. Renewable natural gas is particularly relevant for heavy-duty trucking, municipal fleets, refuse haulers, and industrial users where electrification can be difficult, expensive, or operationally constrained.

OPAL Fuels is vertically integrated across several parts of the value chain. It develops and operates renewable natural gas projects, sells RNG produced from its own facilities and from third parties, and provides fueling solutions for fleets that use natural gas vehicles. The company also designs, builds, operates, and services natural gas fueling stations, giving it exposure not only to fuel production but also to the distribution infrastructure needed to reach end users.

Its operating segments include RNG Fuel, Fuel Station Services, and Renewable Power. Revenue is generated from renewable power sales, renewable natural gas sales, and the development, construction, and servicing of fueling stations. OPAL Fuels is positioned around decarbonization policies, corporate sustainability demand, and transportation customers seeking fuel options with lower lifecycle carbon intensity.