OPAL Fuels Inc. has reported $300 million in income for 2024, up 17 p.c from 2023. Internet revenue for 2024 landed at $14.3 million, down from $127 million for 2023.
“2024 was a strong yr for OPAL Fuels, we made sturdy progress on our operational and strategic goals and have positioned the corporate for continued success this yr and for a few years to come back”, co-CEO Adam Comora stated.
The corporate stated it has begun operations at three landfill renewable pure gasoline (RNG) tasks: Prince William, Sapphire, and Polk, which have a complete annual design capability of three.6 million British thermal models (MMBtu). This brings the annual design capability of OPAL Fuels’ operational RNG tasks to eight.8 MMBtu by the top of 2024. When together with tasks which might be presently beneath building, the entire annual design capability rises to 11.4 MMBtu.
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In 2024, OPAL Fuels produced 3.8 MMBtu of RNG, a 41 p.c improve in comparison with the identical interval within the prior yr.
“Since changing into a public firm in 2022, now we have, organically, greater than tripled our working manufacturing capability and doubled EBITDA by way of a mix of changing present biogas-to-electricity vegetation into RNG, new RNG tasks, and robust progress in our gas station providers phase. Regardless of near-term market volatility, 2025 is predicted to be one other yr of strong progress for OPAL Fuels”, stated Comora.
The Gas Station Companies phase bought, allotted, and serviced 41.9 million and 150.2 million gasoline gallon equivalents (GGEs) of transportation gas for the fourth quarter and full yr 2024, respectively. The annual determine is a rise of 13 p.c from 2023.
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