Montauk Renewables Announces First Quarter 2026 Results

About this update from Montauk Renewables, Inc.

PITTSBURGH, May 06, 2026 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. (“Montauk” or “the Company”) (NASDAQ: MNTK), a renewable energy company specializing in the management, recovery, and conversion of biogas into renewable natural gas (“RNG”), today announced financial results for the first quarter ended March 31, 2026. First Quarter Highlights: In March 2026, we entered into a new, five year senior credit facility with a wholly owned subsidiary of Hannon Armstrong Capital LLC ("HASI”) that consists of up to $200 million in senior indebtedness. We used this facility to refinance our existing outstanding debt and have $45 million available to borrow subject to terms of the agreement. Additionally, we successfully negotiated a five-year gas rights extension at our Raeger facility. The extension secures our access to biogas feedstock at the site through 2031, supporting the continued operation of the facility. The EPA finalized RFS standards for 2026 and 2027, as well as a partial waiver of the 2025 cellulosic biofuel volume requirement. Final cellulosic biofuel volume requirements for 2026 and 2027 were established at 1,360 million and 1,430 million D3 RINs, respectively, representing an increase from the preliminary RFS standards for 2026 and 2027. We have commissioned our Montauk Ag Renewables project in North Carolina and expect our production and revenue generation activities to commence in May 2026. We expect a ramp-up in production volumes throughout 2026 directly related to additional feedstock collection. First Quarter Financial Results Total revenues in the first quarter of 2026 were $46.4 million, an increase of $3.8 million (9.0%) compared to $42.6 million in the first quarter of 2025. The increase is related to environmental attribute revenues from RINs sold related to the distribution of RINs from our GreenWave joint venture which had no RINs distributed and sold in the first quarter of 2025. Our first quarter of 2026 RNG volumes sold under fixed/floor-price contracts decreased approximately 82.1% as compared to first quarter of 2025 as a result of the expiration of fixed price pathway contracts. Our RNG commodity revenue decreased approximately 49.3% which was offset by an increase in RINs sold of 25.5%. Operating and maintenance expenses for our RNG facilities in the first quarter of 2026 were $14.4 million, an increase of $0.3 million ...

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