OPAL Fuels Announces Agreement for $11.1 Million Sale of IRA Investment Tax Credits
OPAL Fuels Inc. (Nasdaq: OPAL) has announced the sale of approximately $11.1 million of Inflation Reduction Act (IRA) investment tax credits to a subsidiary of Apollo Global Management, Inc. This sale represents OPAL Fuels' stake in the tax credits generated by the Emerald RNG facility, a joint venture 50% owned by OPAL Fuels. The Emerald RNG facility, with a nameplate capacity of 10,000 scfm, is one of the largest landfill RNG facilities in North America.
Jonathan Maurer, Co-CEO of OPAL Fuels, stated that the sale provides additional liquidity to fund strategic growth initiatives. He views the IRA as favorable for the renewable energy industry and an important driver of investment across their project pipeline over the next several years. The transaction marks OPAL Fuels' first IRA tax credit sale, highlighting the company's efforts to capitalize on the benefits provided by the Inflation Reduction Act for renewable fuel projects.
OPAL Fuels Inc. (Nasdaq: OPAL) ha annunciato la vendita di circa 11,1 milioni di dollari di crediti d'imposta investimenti previsti dall'Inflation Reduction Act (IRA) a una filiale di Apollo Global Management, Inc. Questa vendita rappresenta la quota di OPAL Fuels nei crediti d'imposta generati dalla struttura Emerald RNG, una joint venture di cui OPAL Fuels detiene il 50%. La struttura Emerald RNG, con una capacità nominale di 10.000 scfm, è una delle più grandi strutture di RNG da discarica in Nord America.
Jonathan Maurer, Co-CEO di OPAL Fuels, ha dichiarato che la vendita fornisce ulteriore liquidità per finanziare iniziative strategiche di crescita. Egli considera l'IRA favorevole per l'industria delle energie rinnovabili e un importante motore di investimenti nel loro portafoglio progetti nei prossimi anni. La transazione segna la prima vendita di crediti d'imposta IRA da parte di OPAL Fuels, evidenziando gli sforzi dell'azienda per sfruttare i benefici offerti dall'Inflation Reduction Act per i progetti di combustibili rinnovabili.
OPAL Fuels Inc. (Nasdaq: OPAL) ha anunciado la venta de aproximadamente 11.1 millones de dólares en créditos fiscales por inversión del Inflation Reduction Act (IRA) a una filial de Apollo Global Management, Inc. Esta venta representa la participación de OPAL Fuels en los créditos fiscales generados por la instalación Emerald RNG, una empresa conjunta propiedad al 50% de OPAL Fuels. La instalación Emerald RNG, con una capacidad nominal de 10,000 scfm, es una de las instalaciones de RNG de vertedero más grandes de América del Norte.
Jonathan Maurer, Co-CEO de OPAL Fuels, declaró que la venta proporciona liquidez adicional para financiar iniciativas estratégicas de crecimiento. Considera que el IRA es favorable para la industria de energías renovables y un importante motor de inversión a lo largo de su cartera de proyectos en los próximos años. La transacción marca la primera venta de créditos fiscales del IRA por parte de OPAL Fuels, destacando los esfuerzos de la empresa para capitalizar los beneficios que ofrece el Inflation Reduction Act para proyectos de combustibles renovables.
OPAL Fuels Inc. (Nasdaq: OPAL)는 Apollo Global Management, Inc.의 자회사에 약 1110만 달러의 Inflation Reduction Act (IRA) 투자 세액 공제를 판매한다고 발표했습니다. 이 판매는 OPAL Fuels가 소유한 Emerald RNG 시설에서 발생한 세액 공제의 지분을 나타냅니다. Emerald RNG 시설은 10,000 scfm의 정격 용량을 가진 북미에서 가장 큰 매립지 RNG 시설 중 하나입니다.
OPAL Fuels의 공동 CEO인 Jonathan Maurer는 이 판매가 전략적 성장 이니셔티브를 위한 추가 유동성을 제공한다고 밝혔습니다. 그는 IRA가 재생 가능 에너지 산업에 유리하며 향후 몇 년간 프로젝트 파이프라인 전반에 걸쳐 투자의 중요한 동력이 될 것이라고 생각합니다. 이 거래는 OPAL Fuels의 첫 번째 IRA 세액 공제 판매로, 재생 가능한 연료 프로젝트를 위한 Inflation Reduction Act가 제공하는 혜택을 활용하려는 회사의 노력을 강조합니다.
OPAL Fuels Inc. (Nasdaq: OPAL) a annoncé la vente d'environ 11,1 millions de dollars de crédits d'impôt pour investissements issus de l'Inflation Reduction Act (IRA) à une filiale d'Apollo Global Management, Inc. Cette vente représente la part d'OPAL Fuels dans les crédits d'impôt générés par la plante Emerald RNG, une coentreprise détenue à 50% par OPAL Fuels. La plante Emerald RNG, avec une capacité nominale de 10 000 scfm, est l'une des plus grandes installations de RNG de décharge en Amérique du Nord.
Jonathan Maurer, co-CEO d'OPAL Fuels, a déclaré que la vente fournit une liquidité supplémentaire pour financer des initiatives de croissance stratégiques. Il considère l'IRA comme favorable à l'industrie de l'énergie renouvelable et un moteur important d'investissement pour leur portefeuille de projets au cours des prochaines années. La transaction marque la première vente de crédits d'impôt IRA par OPAL Fuels, soulignant les efforts de l'entreprise pour tirer parti des avantages offerts par l'Inflation Reduction Act pour les projets de combustibles renouvelables.
OPAL Fuels Inc. (Nasdaq: OPAL) hat den Verkauf von etwa 11,1 Millionen Dollar an Investitionssteuergutschriften aus dem Inflation Reduction Act (IRA) an eine Tochtergesellschaft von Apollo Global Management, Inc. bekannt gegeben. Dieser Verkauf stellt OPAL Fuels' Anteil an den durch die Emerald RNG-Anlage generierten Steuergutschriften dar, einem Joint Venture, an dem OPAL Fuels zu 50% beteiligt ist. Die Emerald RNG-Anlage mit einer Nennkapazität von 10.000 scfm ist eine der größten RNG-Anlagen für Deponiegas in Nordamerika.
Jonathan Maurer, Co-CEO von OPAL Fuels, erklärte, dass dieser Verkauf zusätzliche Liquidität für die Finanzierung strategischer Wachstumsinitiativen bereitstellt. Er betrachtet den IRA als vorteilhaft für die Branche der erneuerbaren Energien und als wichtigen Treiber für Investitionen in ihr Projektportfolio in den kommenden Jahren. Die Transaktion markiert den ersten Verkauf von IRA-Steuergutschriften durch OPAL Fuels und hebt die Bemühungen des Unternehmens hervor, die Vorteile des Inflation Reduction Act für Projekte zu erneuerbaren Kraftstoffen zu nutzen.
- Sale of $11.1 million in IRA investment tax credits, providing additional liquidity
- 50% ownership in one of North America's largest landfill RNG facilities (10,000 scfm capacity)
- Potential for future IRA tax credit sales to fund growth initiatives
- Favorable outlook on IRA's impact on renewable energy industry and project pipeline
- None.
Insights
The $11.1 million sale of IRA investment tax credits represents a significant liquidity boost for OPAL Fuels. This transaction demonstrates the company's ability to monetize tax incentives, potentially improving its cash position and reducing reliance on traditional financing. The deal with Apollo, a major player in alternative asset management, could signal future collaboration opportunities.
Investors should note that this is OPAL's first IRA tax credit transaction, indicating a new revenue stream that could be replicated with other projects. The Emerald RNG facility's substantial capacity (10,000 scfm) suggests that future tax credit sales could be similarly impactful. This strategy aligns well with the company's growth initiatives and could enhance shareholder value in the long term.
The sale of IRA tax credits by OPAL Fuels highlights the growing importance of government incentives in the renewable energy sector. The Inflation Reduction Act is proving to be a game-changer for companies in this space, providing tangible financial benefits that can accelerate project development and industry growth.
The Emerald RNG facility's significant capacity positions OPAL Fuels as a major player in landfill gas-to-energy projects. This focus on large-scale biogas capture aligns with broader decarbonization efforts, particularly in the heavy-duty trucking sector. As environmental regulations tighten, OPAL's strategic positioning could lead to increased demand for its RNG products, potentially driving long-term revenue growth and market share expansion.
OPAL Fuels' successful sale of IRA tax credits could spark a trend in the renewable energy market. As companies realize the potential of monetizing these credits, we might see an uptick in similar transactions across the industry. This could lead to increased liquidity and investment in renewable projects, potentially accelerating the sector's growth.
The involvement of Apollo Global Management is noteworthy, as it signals growing interest from major financial players in the renewable energy space. This could lead to more favorable financing conditions for companies like OPAL Fuels in the future. Investors should watch for potential partnerships or investments from other large financial institutions, which could further validate the sector's potential and drive stock valuations upward.
The Inflation Reduction Act, signed into law in August 2022, provides for the issuance of transferable federal income tax credits for certain renewable fuel projects and products. The sale is OPAL Fuels’ first
“The sale of
“With nameplate capacity of 10,000 scfm, the Emerald RNG facility is one of the largest landfill RNG facilities in
About OPAL Fuels Inc.
OPAL Fuels Inc. (Nasdaq: OPAL) is a leader in the capture and conversion of biogas into low carbon intensity RNG and renewable electricity. OPAL Fuels is also a leader in the marketing and distribution of RNG to heavy duty trucking and other hard to de-carbonize industrial sectors. For additional information, and to learn more about OPAL Fuels and how it is leading the effort to capture North America’s naturally occurring methane 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’s”) 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 Company’s annual report on Form 10-K and quarterly reports on Form 10-Q, and other filings it makes 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. Except as required by law, 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
ICR, Inc.
OPALFuelsPR@icrinc.com
Source: OPAL Fuels, Inc.
FAQ
What is the value of the IRA investment tax credits sold by OPAL Fuels?
Who purchased the IRA investment tax credits from OPAL Fuels (OPAL)?
What is the nameplate capacity of the Emerald RNG facility partially owned by OPAL Fuels (OPAL)?
How does OPAL Fuels (OPAL) plan to use the proceeds from the tax credit sale?
