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WHITE PLAINS, N.Y. - OPAL Fuels Inc. (NASDAQ:OPAL), a renewable natural gas (RNG) producer and provider, currently valued at $501 million and identified as undervalued by InvestingPro analysts, has announced the acquisition of a fueling station in Visalia, California, as part of its strategy to expand its RNG dispensing network. The company plans to upgrade the station and supply RNG to Western Milling’s transportation division, OHK Transport, along with other local carriers.
The Visalia station, situated at 31189 Road 68, operates under a long-term lease and fuel purchase agreement, which includes provisions for additional public volumes. This acquisition is intended to cater to the increasing demand for renewable transportation fuels within California’s Central Valley (NASDAQ:CVCY), building on OPAL’s impressive 30% revenue growth over the last twelve months.
Adam Comora, co-CEO of OPAL Fuels, highlighted the significance of RNG as a low-carbon alternative for fleets transitioning away from diesel, citing its potential to enhance profitability while reducing carbon footprints.
OPAL Fuels specializes in capturing and converting biogas into low carbon intensity RNG and renewable electricity. It also markets and distributes RNG to heavy-duty trucking and industrial sectors that are challenging to decarbonize.
The company’s assertion of leadership in RNG production and distribution is part of its broader commitment to capturing naturally occurring methane and contributing to the decarbonization of North America’s economy.
This expansion aligns with OPAL’s ongoing efforts to meet the growing demand for cleaner fuel alternatives, as more fleets and transport companies seek sustainable solutions. The information regarding this expansion is based on a press release statement from OPAL Fuels.
In other recent news, OPAL Fuels Inc. has entered into a six-year agreement to supply renewable natural gas (RNG) to a leading freight logistics company. This contract is expected to generate approximately 12 million gasoline gallon equivalents annually, supporting five new fueling stations. Two of these stations will commence operations soon, with the remaining three to follow within the next year. Additionally, OPAL Fuels announced the appointment of Darrell P. Birck as Executive Vice President of Biogas. Birck will oversee the construction and operational aspects of the company’s biogas business, leveraging over two decades of industry experience. His appointment aligns with OPAL Fuels’ strategic growth plans and efforts to enhance operational efficiencies. The company continues to focus on reducing carbon emissions in the heavy-duty trucking industry through RNG solutions. These developments reflect OPAL Fuels’ ongoing commitment to sustainability and market expansion.
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