Opal Fuels released first quarter financial results on May 8, reporting the company produced 1.1 million MMBtu of renewable natural gas during the quarter, up 38% when compared to the same period of last year.&nbsp;The company’s fuel station services segment sold, dispensed and serviced an aggregate of 40.6 million gasoline gallon equivalents (GGEs) of transportation fuel during the first quarter, up 16% when compared to the same period of last year. Of that amount, RNG dispensed as transportation fuel was 19.5 million GGEs, up 19%.&nbsp;&nbsp;Opal provided updates on several ongoing construction projects. The Atlantic RNG project remains on schedule to begin operations in the third quarter of this year, while the Burlington, Cottonwood and Kirby RNG projects are expected to begin operations in 2026. The completion of two California diary RNG projects continues to be delayed due to a dispute with the prior engineering, procurement and construction (EPC) contractor over a series of change order requests.&nbsp;As of March 31, Opal had 45 fueling stations under construction, including 19 company-owned stations.&nbsp;"Our two RNG facilities which we brought online in the fourth quarter of 2024 are performing as expected through their respective ramp-up periods and support our full-year production target," said co-CEO&nbsp;Jonathan Maurer. "We’re also pleased that we completed our second ITC sale in the first quarter and expect additional sales later this year. With respect to our Fuel Station Services segment we saw solid first quarter results and expect this trend to continue for the remainder of 2025."“Landfill RNG assets have visible and stable growth with minimal ongoing capital requirements, thus generating significant free cash flow during their operations. We continue to believe that the outlook for&nbsp;OPAL Fuels&nbsp;is strong and our focus on the disciplined execution of our growth strategy is creating meaningful shareholder value," continued Maurer.Opal reported $85.4 million in revenue for the first quarter, up 31% when compared to the same period of last year. Net income was $1.3 million, up from $700,000. Adjusted EBITDA was $20.2 million, up from $15.2 million. Basic and diluted net loss per share attributable to Class A common stockholders was 1 cent, unchanged from the first quarter of last year.

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Opal Fuels released first quarter financial results on May 8, reporting the company produced 1.1 million MMBtu of renewable natural gas during the quarter, up 38% when compared to the same period of last year. 

Opal Fuels reports increased RNG production, sales for Q1

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