OPAL Fuels Announces Closing of $105 Million Senior Secured Credit Facility – Business Wire | Vette Leader

WHITE PLAINS, NY–(BUSINESS WIRE)–OPAL Fuels Inc. (Nasdaq: OPAL), a vertically integrated producer and distributor of renewable natural gas (RNG), today announced it has completed a $105 million five-year senior secured credit facility. The Facility provides construction financing for certain OPAL Fuels projects upon the achievement of certain milestones. The loan syndicate consists of Investec, Bank of Montreal and Comerica Bank.

“Today’s closing of our senior secured credit facility, combined with the $215.8 million raised from the recent completion of our business combination with ArcLight Clean Transition Corp. II will facilitate the execution of our growth plan,” said Adam Comora, Co-CEO of OPAL-Bbrennstoffe. “We believe these transactions are a testament to the strength of our vertically integrated RNG platform and continued awareness of the critical role RNG is now playing in decarbonizing the heavy-duty transportation 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 vehicle market. RNG is a proven low-carbon fuel that is now rapidly decarbonizing the transportation industry while significantly reducing costs for fleet owners. OPAL Fuels captures harmful methane emissions at source and recycles the trapped energy into a commercially viable, lower cost alternative to diesel fuel. OPAL Fuels also develops, builds and services RNG and hydrogen fueling stations. As a manufacturer and distributor of CO2-reducing fuel for heavy truck fleets, the company has been delivering best-in-class, fully renewable solutions for customers and manufacturing partners for more than a decade. To learn more about OPAL Fuels and how it is leading efforts to capture North America’s noxious 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 in this release 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 future financial or other performance indicators of OPAL Fuels. In some cases, you can identify forward-looking statements by using words such as “believe,” “may,” “will,” “potential,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would” , “project”, “aim”, “plan”, “expect” or the negative of these terms or variations thereof or similar terminology. Such forward-looking statements, including the identification of a target company and a potential business combination or other such transaction, are subject to risks and uncertainties that could cause actual results to 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 predict all risks and uncertainties. These forward-looking statements are based on estimates and assumptions that, while believed to be reasonable by OPAL Fuels and its management, are inherently uncertain and subject to change. Factors that could cause actual results to differ materially from current expectations include, among others, various factors beyond management’s control, including general economic conditions and other risks, uncertainties and factors discussed in the sections “Risk Factors” and “Caution” are listed in the Proxy Statement/Prospectus filed on June 27, 2022 in connection with our registration statement on Form S-4 and other filings with the Securities and Exchange Commission. Nothing in this release should be taken as a representation by any person that any forward-looking statements contained herein will be achieved or that any of the intended results of such forward-looking statements will be achieved. You should not place undue reliance on any forward-looking statements contained in this release, which speak only as of the date 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 announcement is for informational purposes only and does not constitute an offer to purchase, or a solicitation of an offer to sell, subscribe for or purchase any securities, nor may any sale, issue or transfer of any securities be made in any jurisdiction contrary to these provisions applicable law. Securities may only be offered by means of a prospectus that satisfies the requirements of Section 10 of the Securities Act, 1933, as amended.

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