OPAL Fuels Signs $100 Million Master Agreement to Monetize Section 45Z Production Tax Credits

OPAL Fuels (Nasdaq: OPAL) announced that it has entered into a master agreement establishing a framework to monetize $100 million of Section 45Z Clean Fuel Production Tax Credits over the next several years. The first closing is anticipated to take place in this quarter.

This agreement represents another milestone in advancing OPAL Fuels’ strategy to optimize the value of its vertically integrated platform, enabling fleets to displace diesel with renewable and compressed natural gas (RNG and CNG) while delivering cost savings, greater pricing stability, and measurable sustainability outcomes to fleets.

Section 45Z of the U.S. tax code, or the Clean Fuel Production Credit, was created and updated with bipartisan support to encourage production of low-carbon transportation fuels. Continued bipartisan support for the credit has provided greater industry confidence and policy certainty in the longevity and stability of the program, encouraging sustained investment in the renewable fuels sector.

“This agreement furthers OPAL Fuels’ ability to enhance value from our operating platform and new facilities as they come online,” said Adam Comora, Co-Chief Executive Officer of OPAL Fuels. “These proceeds will contribute to our overall corporate liquidity for future growth investments in both new RNG projects and fueling infrastructure that will accelerate broader fleet adoption of RNG and CNG, one of the primary solutions available at scale today that can meaningfully improve economics in heavy-duty transportation.”

About OPAL Fuels

OPAL Fuels (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 decarbonize industrial sectors. For additional information, and to learn more about OPAL Fuels and how it is leading the effort to capture North America’s harmful methane emissions 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.

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