WHITE PLAINS, N.Y. – OPAL Fuels Inc. (NASDAQ: OPAL) has begun the development of a brand new renewable (RNG) facility on the Kirby (NYSE:) Canyon Landfill in Santa Clara County, California. The ability, which is totally owned by OPAL Fuels, can have an preliminary annual design capability of roughly 0.66 million MMBtus.
The venture makes use of established expertise to seize and convert landfill biogas, a results of natural materials decomposition, into RNG. This various gas supply is meant to function a low-carbon and cost-effective choice for transportation gas. The plant’s design capability permits for the manufacturing of roughly 5.1 million gasoline gallons equal (GGE) of RNG per yr. OPAL Fuels plans to distribute this RNG by means of its community of fueling stations to pure gas-powered heavy-duty vehicles, aiming to scale back emissions and gas prices in comparison with diesel-powered fleets.
This new facility marks OPAL Fuels’ seventeenth RNG venture and its first within the state of California. “Beginning construction of our 17th RNG project, our first in California, continues the OPAL execution story of moving projects from development, through construction and into operations,” said Jonathan Maurer, co-CEO of OPAL Fuels.
OPAL Fuels Inc. is acknowledged for its position within the seize and conversion of biogas into RNG and renewable electrical energy, in addition to its advertising and marketing and distribution efforts of RNG to the heavy-duty trucking sector and different industries which are difficult to decarbonize.
The data supplied relies on a press launch assertion from OPAL Fuels Inc.
In different latest information, Piper Sandler has revised its third-quarter earnings per share (EPS) and EBITDA estimates for Darling Components (NYSE:), primarily on account of weaker margins at Darling Components’ three way partnership, Diamond Inexperienced Diesel (DGD), and slower enchancment in fats pricing than initially anticipated. The agency additionally revised its fiscal yr 2024 and 2025 EBITDA estimates for Darling Components. The agency anticipates that Darling Components’ administration will present up to date FY24 steering and description the outlook for 2025.
In the meantime, OPAL Fuels has reported vital enterprise developments. The corporate has bought roughly $11.1 million in funding tax credit to a subsidiary of Apollo World Administration (NYSE:), Inc., marking OPAL Fuels’ entrance into IRA tax credit score gross sales. This transaction gives the corporate with extra liquidity to additional its strategic development initiatives.
OPAL Fuels has additionally reported stable Q2 efficiency, with outcomes aligning with expectations. The corporate commenced development on its sixteenth RNG venture and goals to have at the very least 2 million MMBtu of latest RNG manufacturing in development for 2024. These are latest developments that reveal the corporate’s dedication to development within the renewable power sector.
InvestingPro Insights
OPAL Fuels Inc.’s latest announcement of its seventeenth RNG venture aligns with the corporate’s robust development trajectory. In accordance with InvestingPro knowledge, OPAL has demonstrated spectacular income development, with a 27.13% improve over the past twelve months as of Q2 2024, and an much more sturdy 28.9% quarterly development in Q2 2024. This growth into California, a state recognized for its aggressive environmental insurance policies, might additional bolster the corporate’s market place.
The corporate’s deal with renewable power options seems to be paying off financially. InvestingPro Suggestions spotlight that OPAL is worthwhile over the past twelve months, with analysts predicting continued profitability this yr. This monetary well being is mirrored within the firm’s adjusted P/E ratio of 9.05, suggesting that the inventory could also be undervalued relative to its earnings potential.
Nevertheless, traders ought to observe that OPAL is buying and selling at a excessive EBITDA valuation a number of, which might point out that the market has already priced in among the firm’s development prospects. The corporate additionally operates with a reasonable stage of debt, which can present flexibility for future initiatives however must be monitored.
For these fascinated by a deeper evaluation, InvestingPro presents extra suggestions and insights. At the moment, there are 7 extra InvestingPro Suggestions out there for OPAL Fuels Inc., offering a extra complete view of the corporate’s monetary place and market outlook.
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