Press Release

New River RNG recognized for capturing harmful greenhouse gases and replacing fossil fuel with innovative renewable energy solution

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Aug. 24, 2023-- OPAL Fuels Inc. (Nasdaq: OPAL), a vertically integrated producer and distributor of renewable natural gas (RNG) and renewable electricity, announced its New River RNG facility, which was created through a close working relationship with New River Solid Waste Association (NRSWA), has been named Project of the Year by the American Society of Civil Engineers (ASCE), Florida Section. The facility is located at the NRSWA municipal solid waste landfill in Raiford, Florida.

The award recognizes New River RNG’s innovative use of technology to combat two of the most significant contributors to climate change: harmful methane gas emissions and transportation emissions, particularly from the heavy-duty trucking industry. The facility captures methane that is produced from the decomposition of organic material at the landfill, and refines it into RNG, a proven replacement for diesel, providing trucking fleets with a fuel source that’s cleaner than fossil fuels at no additional cost. The facility is set to produce approximately 5 million GGE per year of RNG, which 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.

“OPAL Fuels is one of the largest developers and operators in the renewable biogas space, with a decades-long track record of making projects like New River RNG a reality,” said David Unger, Executive Vice President, OPAL Fuels. “We are honored that New River RNG was recognized as Project of the Year. Developing, constructing, and bringing this facility online was a tremendous cooperative effort and we thank the New River Solid Waste Association, Peoples Gas, and the entire team that made Florida’s first landfill gas to RNG project a reality.”

“This renewable natural gas project is a commitment to innovation and contribution to waste conversion and energy recovery,” said Tzufit Boyle, PE, F.ASCE, President, ASCE Florida Section. “This project is the first in Florida to convert landfill gas into pipeline-quality renewable natural gas. It is also the first landfill to interconnect to Florida Gas Transmission's interstate pipeline and inject processed landfill gas, which is treated to meet strict pipeline-gas specifications. The Florida Section of ASCE recognizes outstanding civil engineering achievements in a branch’s area to highlight the extensive work done and give proper recognition to the project team.”

The ASCE Florida Section Award Committee scores the nominees for Project of the Year on several criteria, including innovative application of new or existing technology, future value to the engineering profession, social and economic considerations, complexity of the project, and exceeding client needs.

About OPAL Fuels Inc.

OPAL Fuels Inc. (Nasdaq: OPAL) is a leading vertically integrated producer and distributor of renewable natural gas (RNG) and renewable electricity. RNG is a proven low-carbon energy source that is rapidly decarbonizing multiple sectors including the transportation and utility industries. OPAL Fuels delivers complete renewable solutions to customers and production partners. With a portfolio of 24 operating renewable energy projects, OPAL Fuels is positioned to advance the clean energy transition in support of renewable energy for transportation, utilities, EV charging infrastructure, and hydrogen fuel solutions. To learn more about OPAL Fuels and how it is leading the effort to capture North America’s harmful methane emissions and decarbonize the economy, please visit www.opalfuels.com.

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 Quarterly Report on Form 10-Q filed on May 15, 2023 with the Securities and Exchange Commission, 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.

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

Media
Jason Stewart
Senior Director Public Relations and Marketing
914-421-5336
jstewart@opalfuels.com

ICR, Inc.
OPALFuelsPR@icrinc.com

Source: OPAL Fuels, Inc.