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OPAL Fuels Announces Completion of Business Combination with ArcLight Clean Transition Corp. II
Accelerates OPAL Fuels LLC’s (“OPAL Fuels”) mission to expand the role of low-carbon renewable natural gas across the transportation sector OPAL Fuels Inc.
About this update from Opal Fuels Inc.
[{"type":"text","content":"\n\nAccelerates OPAL Fuels LLC’s (“OPAL Fuels”) mission to expand the role of low-carbon renewable natural gas across the transportation sector\n\n\n\nOPAL Fuels Inc. (“New OPAL”) shares to begin trading on the Nasdaq July 22, 2022, under ticker “OPAL”\n\n\n WHITE PLAINS, N.Y.--(BUSINESS WIRE)--\nOPAL Fuels, a vertically integrated producer and distributor of renewable natural gas (“RNG”), today announced that it has completed its previously announced business combination (the “Business Combination”) with ArcLight Clean Transition Corp. II (Nasdaq: ACTD) (“ArcLight”).\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220721006011/en/\nThe transaction was unanimously approved by ArcLight’s board of directors and was approved at a special meeting of ArcLight shareholders on July 15, 2022.\n\nThe combined entity will be renamed OPAL Fuels Inc. and commencing on July 22, 2022, the Class A ordinary shares of New OPAL will trade on the Nasdaq under the ticker symbol “OPAL” and its warrants will trade on the Nasdaq under the ticker symbol “OPALW”.\n\nCompany Background\n\nOPAL Fuels is a renewable energy company specializing in the capture and conversion of biogas for the production of RNG for use as a vehicle fuel for heavy and medium-duty trucking fleets, and the generation of renewable power for sale to utilities. OPAL Fuels also designs, develops, constructs, operates and services fueling stations for trucking fleets across the country that use natural gas to displace diesel as their transportation fuel. The biogas conversion projects currently use landfill gas and dairy manure as the source of the biogas. In addition, OPAL Fuels has recently begun implementing design, development, and construction services for hydrogen fueling stations.\n\nAs of May 1, 2022, OPAL Fuels owns and operates 24 biogas projects, five of which are RNG projects and 19 of which are renewable power projects. Additionally, OPAL Fuels currently has seven RNG projects under construction.\n\nManagement Commentary\n\nAdam Comora, Co-CEO of OPAL Fuels, stated, “We are incredibly proud to complete this transaction and become a public company. This transformative step enables the next phase of growth at OPAL Fuels, and we look forward to our continued partnership with the ArcLight team and delivering value...