OPAL Fuels Announces Closing of $105 Million Senior Secured Credit Facility


WHITE PLAINS, NY–(BUSINESS WIRE)–OPAL Fuels Inc. (Nasdaq: OPAL), a vertically integrated producer and marketer of renewable natural gas (RNG), today announced the closing of a five-year, $105 million senior secured credit facility. The facility provides construction financing for designated OPAL Fuels projects after reaching certain milestones. The syndicate of lenders is made up of Investec, Bank of Montreal and Comerica Bank.

“The closing of our senior secured credit facility today, combined with the $215.8 million generated by the recent closing of our business combination with ArcLight Clean Transition Corp. II, will facilitate the execution of our growth plan,” said Adam Comora, co-CEO of Carburants OPALE. “We believe these transactions demonstrate the strength of our vertically integrated RNG platform and the continued awareness of the central role RNG plays in decarbonizing the heavy-haul industry.”

About OPAL Fuels Inc.

OPAL Fuels Inc. (Nasdaq: OPAL), is a leading vertically integrated renewable fuels platform involved in the production and distribution of renewable natural gas (RNG) for the heavy-duty market. RNG is a proven low carbon fuel that is rapidly decarbonizing the transportation industry while significantly reducing costs for fleet owners. OPAL Fuels captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable and less expensive alternative to diesel fuel. OPAL Fuels also develops, builds and maintains RNG and hydrogen fueling stations. As a producer and distributor of carbon-reduced fuel for heavy-duty truck fleets for more than a decade, the company provides premier, comprehensive renewable solutions to its customers and production partners. To learn more about OPAL Fuels and how it is leading efforts to capture North America’s harmful methane emissions and decarbonize the transportation industry, please visit www.opalfuels.com and follow the company on LinkedIn and Twitter at @OPALFuels.

Forward-looking statements

Certain statements contained in this communication may be deemed to be forward-looking statements. Forward-looking statements are statements that are not historical facts and generally relate to future events or measures of future financial or other performance of OPAL Fuels. In some cases, you can identify forward-looking statements by words such as “believe”, “may”, “will”, “potentially”, “estimate”, “continue”, “anticipate”, “intend”. , “could,” “would,” “projects,” “targets,” “plans,” “expects” or the negative terms of these terms or variations thereof or similar terminology. These forward-looking statements, including the identification of a target business and a potential business combination or other such transaction, are subject to risks and uncertainties, which could cause actual results will differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may arise from time to time and it is not possible to foresee all risks and uncertainties. These forward-looking statements are based on estimates and assumptions which, while considered reasonable by OPAL Fuels and its management, as applicable, are inherently uncertain and subject to material change. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control, including general economic conditions and other risks, uncertainties and factors. set out in the sections titled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Proxy Circular/Prospectus filed June 27, 2022 as part of our registration statement on Form S-4 and other documents filed with the Securities and Exchange Commission. Nothing in this communication should be taken as a representation by anyone that the forward-looking statements set forth herein will be realized or that any of the results contemplated by such forward-looking statements will be achieved. You should not place undue reliance on the forward-looking statements contained in this communication, which speak only as of the date on which they are made and are qualified in their entirety by reference to the cautionary statements contained herein. OPAL Fuels expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein to reflect any change in OPAL Fuels’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. .

Disclaimer

This communication is for informational purposes only and does not constitute an offer to buy, or a solicitation of an offer to sell, subscribe or purchase securities, and there will be no sale, issue or transfer of securities in a jurisdiction in violation of applicable law. No offer of securities will be made except by means of a prospectus satisfying the requirements of Section 10 of the Securities Act of 1933, as amended.

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