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OPAL Fuels Announces Closing of $180 Million Preferred Stock Facility
WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- OPAL Fuels (Nasdaq: OPAL) announced that it has closed a new $180 million preferred stock facility with an affiliate of
About this update from Opal Fuels Inc.
[{"type":"text","content":" WHITE PLAINS, N.Y.--(BUSINESS WIRE)--\nOPAL Fuels (Nasdaq: OPAL) announced that it has closed a new $180 million preferred stock facility with an affiliate of its majority shareholder, Fortistar. At closing, $120 million was issued from the facility, of which approximately $100 million was used to fully redeem the Series A Preferred Units previously owned by Mendocino Capital, LLC. The remaining $60 million of the facility will be available for future draw-downs.\n\n\n“This financing sets the stage for the company’s next stage of growth,” said Jonathan Maurer, Co-Chief Executive Officer of OPAL Fuels. “We remain committed to delivering long-term shareholder value. The new preferred stock facility will enable OPAL Fuels to complete development and construction of new RNG projects and fueling infrastructure to support heavy-duty transportation.”\n\n\nAbout OPAL Fuels\n\n\nOPAL 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.\n\n\nForward-Looking Statements\n\n\nCertain 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...