Montauk Renewables Announces Full Year 2025 Results

About this update from Montauk Renewables, Inc.

PITTSBURGH, March 11, 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 year ended December 31, 2025. Full Year Highlights: • Revenues of $176.4 million, flat year over year • Net Income of $1.7 million, decreased 82.0% year over year • Non-GAAP Adjusted EBITDA of $35.6 million, decreased 16.5% year over year • RNG production of 5.6 million MMBtu, increased 1.0% year over year • RINs sold of 44.1 million, increased 7.5 million or 20.5% year over year We reported an increase in the total volume of RINs sold in 2025 of 20.5% when compared to 2024 and we reported an increase in RNG production in 2025 of 1.0% over 2024 when considering the 2024 fourth quarter sale of an RNG facility. These increases were offset by a 29.0% decrease in average RIN pricing in 2025 when compared to 2024. In connection to our joint venture, GreenWave Energy Partners, LLC, we began matching available RNG volumes to dispensing opportunities through GreenWave's transportation pathways. As a result, we have recorded investment income from the joint venture in 2025 of $1.5 million from the 706 thousand RINs separated by GreenWave distributed to us. In March 2026, we successfully negotiated a five-year gas rights extension at our Raeger facility. In September 2025, a joint motion was filed with the North Carolina Utilities Commission ("NCUC") by various entities seeking to modify and delay certain aspects of the Clean Energy Portfolio Standards, specifically, the portfolio standards relating to swine RECs. In October 2025, we filed response comments to the joint motion with the NCUC requesting they grant modifications or delays only to individual power supplies that have demonstrated need, require power suppliers that have not achieved 100% compliance in 2025 to apply any cumulatively acquired swine RECs to the suppliers unsatisfied 2025 pro rata obligation, and modify the swine REC set-aside for 2026 and beyond to match the requirement originally set by North Carolina in 2018. In January 2026, the NCUC denied the request for waivers and determined that parties must use banked RECs to meet 2025 compliance targets with the ability to use solar RECs to fill any compliance sho...

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