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OPAL Fuels Reports FY24 Revenue Up 85% YoY to $435.6mln.
ByAinvest
Friday, Mar 14, 2025 6:07 am ET1min read
• OPAL Fuels reports Q4 and FY24 results • Vertically integrated RNG and renewable electricity leader • Three large landfill RNG projects online • 3.8 million MMBtu of annual design capacity • Co-CEO Adam Comora cites strong progress and strategic objectives
OPAL Fuels (Nasdaq: OPAL), a leading vertically integrated renewable natural gas (RNG) and renewable electricity company, recently reported its financial and operational results for the fourth quarter and full year 2024 [1]. The company, which operates 11 large landfill RNG projects with a total annual design capacity of 11.4 million MMBtu, reported solid progress and strategic objectives for the year.According to Adam Comora, co-CEO of OPAL Fuels, 2024 was a year of progress for the company. They brought online three large landfill RNG projects, totaling 3.8 million MMBtu of annual design capacity, and now have 11 in operation. The company's total annual design capacity for RNG projects in operation and construction is now 11.4 million MMBtu.
Despite near-term market volatility, OPAL Fuels is expected to continue its growth trajectory in 2025. The company's revenue for the three and twelve months ended December 31, 2024, was $80.0 million and $300.0 million, respectively, which was 8% lower than the previous year. However, Comora expects 2025 to be another year of solid growth for OPAL Fuels.
OPAL Fuels' disciplined execution and vertical integration have been key drivers of its growth. Since becoming a public company in 2022, the company has organically more than tripled its operating production capacity and doubled EBITDA through a combination of converting existing biogas-to-electricity plants into RNG, new RNG projects, and strong growth in its fuel station services segment [1].
With a focus on disciplined execution and a commitment to driving shareholder value, OPAL Fuels is well-positioned to continue its growth in the RNG market. The company's position as one of the largest integrated RNG operators makes it a logical choice for feedstock suppliers seeking an operating partner and fleet customers looking to deploy trucks that are cleaner, cheaper, and now [1].
References:
[1] OPAL Fuels Reports Fourth Quarter and Full Year 2024 Results. Business Wire. March 13, 2025. https://www.businesswire.com/news/home/20250313005448/en/
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