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Montauk Renewables, Inc. Announces Approval of Provisional California Air Resource Board Carbon Intensity Score for Pico Energy Site in Idaho
PITTSBURGH, March 28, 2023 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. (NASDAQ: MNTK) (the “Company”) today announced that on March 27, 2023 the Company’s
About this update from Montauk Renewables, Inc.
[{"type":"text","content":"PITTSBURGH, March 28, 2023 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. (NASDAQ: MNTK) (the “Company”) today announced that on March 27, 2023 the Company’s Tier 2 application with the California Air Resource Board (CARB) was certified (the “Project”). The Company sought provisional certification of a Tier 2 pathway for biomethane (Bio-CNG) production at its Pico Energy facility in Idaho from anaerobic digestion of dairy manure. Pico Energy, LLC owns and operates the facility which upgrades biogas to biomethane. The biomethane is then injected into the pipeline onsite and supplied to CNG vehicles in California as bio-CNG. The approved provisional Carbon Intensity Score (CI Score) is -260.56. This certified CI value will be used to report and generate Low Carbon Fuel Standards credits (LCFS Credits) for fuel quantities from the Pico Energy facility starting with the fourth quarter of 2022. About Montauk Renewables, Inc. Montauk Renewables, Inc. (NASDAQ: MNTK) is a renewable energy company specializing in the management, recovery and conversion of biogas into RNG. The Company captures methane, preventing it from being released into the atmosphere, and converts it into either RNG or electrical power for the electrical grid (“Renewable Electricity”). The Company, headquartered in Pittsburgh, Pennsylvania, has more than 30 years of experience in the development, operation and management of landfill methane-fuelled renewable energy projects. The Company has current operations at 15 operating projects located in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina and Texas. The Company sells RNG and Renewable Electricity, taking advantage of Environmental Attribute premiums available under federal and state policies that incentivize their use. For more information, visit https://ir.montaukrenewables.com Company Contact: John Ciroli Chief Legal Officer and Secretary [email protected](412) 747-8700 Investor Relations Contact: Georg Venturatos Gateway Investor Relations [email protected] (949) 574-3860 Safe Harbor Statement This release contains forward-looking statements regarding our approval of the provisional California Air Resource Board Carbon Intensity score for the Pico Energy site in Idaho and the credits that may be generated from Q4 of 2022. Forward-looking statements are necessarily subject to numerous ass...