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OPAL Fuels has successfully completed its business combination with ArcLight Clean Transition Corp. II, enabling its public listing on Nasdaq under the ticker 'OPAL' from July 22, 2022. This move accelerates OPAL's mission to expand low-carbon renewable natural gas (RNG) in the transportation sector. The company operates 24 biogas projects and is focused on growing its RNG production and fueling station network. Management expresses optimism about growth and delivering value amid industry evolution and decarbonization efforts.
Shareholders of ArcLight Clean Transition Corp. II (ACTD) have approved the business combination with OPAL Fuels LLC at a special meeting on July 15.
The transaction is expected to close once all conditions are met. The new entity will be named OPAL Fuels Inc., with Class A shares trading on Nasdaq under the symbol "OPAL" and warrants under "OPALW." ArcLight aims to leverage OPAL Fuels' expertise in renewable natural gas to capitalize on the growing demand for sustainable energy solutions.
OPAL Fuels LLC has appointed Todd Firestone as Vice President of Investor Relations and Corporate Development. He will report to Ann Anthony, CFO, and act as the main point of contact for investors and analysts, advising on growth initiatives. Firestone, with experience from Evercore ISI and Morgan Stanley, aims to deepen stakeholder relationships as OPAL Fuels executes its growth strategy focused on renewable natural gas (RNG) to decarbonize transportation. The company is also moving towards becoming publicly listed through a business combination with ArcLight Clean Transition Corp. II (NASDAQ: ACTD).
ArcLight Clean Transition Corp. II (ACTD) has announced that its registration statement on Form S-4 has been approved by the SEC for its upcoming business combination with OPAL Fuels LLC. The definitive proxy statement will be mailed to shareholders of record as of June 1, 2022, ahead of a Special Meeting set for July 15, 2022. If approved, the business combination will transition the company's trading to the new Nasdaq ticker 'OPAL'. Shareholders are urged to vote by July 14, 2022, to ensure representation in the meeting.
OPAL Fuels will host a Virtual Investor Event on May 6, 2022, at 8:00 AM EDT. Co-CEOs Adam Comora and Jonathan Maurer, along with CFO Ann Anthony, will present and participate in a Q&A session. Questions can be submitted via email or during the event. Registration is open, and details can be found on the OPAL Fuels investor page. Additionally, OPAL Fuels announced a business combination with ArcLight Clean Transition Corp. II (ACTD), aiming for public listing on the Nasdaq in the second quarter of 2022, pending customary closing conditions.
OPAL Fuels LLC has announced the start of commercial operations at its new facility in Shiloh, Ohio, aimed at capturing waste methane from the Noble Road Landfill. This facility is projected to produce around 6.9 million gallons of RNG annually, significantly reducing methane emissions by approximately 20,000 tons per year and CO2 emissions by more than 48,000 tons. A 33.1-mile pipeline will transport the RNG, helping displace diesel fuel in Rumpke trucks. This initiative aligns with OPAL Fuels' growth strategy and supports environmental sustainability.
OPAL Fuels has announced a 50/50 joint venture with GFL Renewables to develop renewable natural gas (RNG) production facilities in the U.S. The projects will capture methane emissions from GFL's landfills, converting them into RNG for heavy-duty trucking. The Michigan facility aims to produce 2 million MMBtu annually, while the North Carolina site will generate over 1 million MMBtu per year. The Michigan project is set for early 2023 operations, continuing OPAL's commitment to sustainable energy and reducing carbon emissions.