Opal Fuels Inc. on March 16 released fourth quarter financial results, reporting the company produced 1.3 million MMBtu of renewable natural gas (RNG) during the quarter, up 20% when compared to the same period of 2024. Total RNG production for 2025 reached 4.9 million MMBtu, up 29% when compared to the previous year.&nbsp;"2025 was an important year for&nbsp;OPAL Fuels&nbsp;as we continue to scale our platform and prepare for additional growth," said&nbsp;Adam Comora, Co-CEO of&nbsp;Opal Fuels. "Despite experiencing some regulatory and macro headwinds in 2025, we are pleased to have closed the year with Adjusted EBITDA of&nbsp;$90.2 million, within our guidance. Production increased to 4.9 million MMBtu, 28% higher compared to 2024, helped by improved operations during the second half of the year. We also sold&nbsp;$42.9 million&nbsp;of Investment Tax Credits and began recognizing our first 45Z production tax credits."Adjusted EBITDA for the full year was approximately $90.2 million, essentially flat when compared to 2024 despite declining environmental credit prices, Comora said during a March 16 earnings call. He noted that the price of D3 cellulosic biofuel renewable identification numbers (RINs) were down approximately 70 cents per RIN when compared to 2024. The realized RIN price averaged $2.45 in 2025, down from $3.13 in 2024. “This decline offset much of the operational progress achieved during the year,” Comora added, noting operational growth across Opal’s platform helped offset that decline.&nbsp;Jonathan Maurer, co-CEO of Opal Fuels, said the company has already grown its upstream portfolio to 12 operating RNG facilities with 9.1 MMBtu in annual design capacity. “On the upstream side, our focus remains on improving performance across our existing operating assets while advancing the next wave of RNG projects currently in construction and development,” he explained. “Production from facilities commissioned late in 2024 significantly increased during 2025 and sets up a stronger 2026 operating position when compared to this time last year.”&nbsp;Moving into 2026, Opal Fuels Chief Financial Officer Kazi Hanan said Opal Fuels is expected RNG production to grow by more than 14% when compared to last year. In addition, the company expects to benefit from approximately $15 million to $20 million in 45Z credits for the full year.&nbsp;Opal Fuels reported revenue of $99.8 million for the fourth quarter, up 25% when compared to the same period of 2024. Net income was $16.2 million, compared to a net loss of $5.4 million. Adjusted EBITDA was $34.2 million, up from $22.6 million.&nbsp;For the full year 2025, revenue was $349 million, up 16% when compared to 2024. Net income was $36.4 million, up from $14.3 million. Adjusted EBITDA was $90.2 million, up slightly from $90 million.&nbsp;&nbsp;&nbsp;&nbsp;

medium_OpalFuelsQ42025.jpg

small_OpalFuelsQ42025.jpg

thumbnail_OpalFuelsQ42025.jpg

OpalFuelsQ42025.jpg

Opal Fuels Inc. on March 16 released fourth quarter financial results, reporting the company produced 1.3 million MMBtu of renewable natural gas (RNG) during the quarter, up 20% when compared to the same period of 2024. 

Opal Fuels reports 29% increase in RNG production for 2025

Related Stories

DOE offers funding biotechnology projects leveraging AI

Clean Fuels to President Trump: Finalize the RFS to boost America’s energy security

Boeing and Carbonfuture sign multi-year agreement for at least 40,000 metric tons of durable carbon removal

Montauk Renewables: RNG production up 1% in 2025, renewable electricity production down 5%

Abundia Global Impact Group secures licensing and partnership agreement with Topsoe for HydroFlex low carbon upgrade technology

Upcoming Events

2026 International Biomass Conference & Expo

Opal Fuels reports 29% increase in RNG production for 2025.css-7jxktu{position:absolute;bottom:0px;left:0px;right:0px;height:3px;border-radius:3px;background-color:var(--chakra-colors-brandBlack);}