OPAL Fuels
OPAL Fuels is a vertically integrated U.S. renewable natural gas producer and distributor that captures methane from landfills and dairy farms, upgrades it to pipeline-quality RNG, and sells it under long-term contracts to heavy-duty trucking fleets through 140+ company-owned fueling stations.
- Company typePublic
- Founded2020
- HeadquartersWhite Plains, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What OPAL Fuels does
OPAL Fuels is a fully integrated, vertically integrated renewable natural gas (RNG) producer and distributor targeting the U.S. heavy-duty transportation sector. Formed in April 2021 through the merger of Fortistar Methane Group (upstream) and TruStar Energy (downstream) under Fortistar's ownership, the company became publicly traded on Nasdaq in July 2022 via a SPAC business combination with ArcLight Clean Transition Corp. II at a $1.75B enterprise value, and is now headquartered in White Plains, NY.
The company operates a national waste-to-energy platform that captures fugitive methane emissions from landfills and dairy farms, processes the biogas into pipeline-quality RNG using Air Liquide-sourced membrane technology and proprietary upgrading systems, and distributes the fuel through a network of more than 140 company-owned and operated RNG/CNG fueling stations across 42 states. Its project portfolio includes named facilities such as Sapphire (NC), Atlantic (NJ, JV with SJI), Pine Bend (MN), Noble Road (OH), Sunoma at Paloma Dairy (AZ), Bio Town (IN), and New River (FL), plus the GFL Environmental 50/50 joint venture pipeline covering sites in Pennsylvania, Michigan, North Carolina, Alabama, and Georgia.
OPAL generates revenue across four streams: (1) RNG production and sale under 10+ year supply contracts with fleet operators, supplemented by D3 RIN and LCFS environmental credit monetization; (2) build-own-operate fueling station services with construction, service, and dispensing fees; (3) IRA Investment Tax Credit sales (five completed to date) and a $100M Section 45Z Clean Fuel Production Credit master agreement; and (4) long-term offtake arrangements with NextEra Energy affiliates for the majority of its environmental attributes. The company sells directly to enterprise fleet customers (waste haulers, logistics providers, retail distribution), and secures 20+ year gas rights agreements with landfill owners (e.g., Republic Services, Rumpke, GFL) and dairy operators (e.g., Paloma Dairy) for feedstock access. Recent strategic emphasis includes the hire of a dedicated CRO for fuel station services and a MoU with Nikola Corporation to position RNG as feedstock for renewable hydrogen refueling infrastructure.
OPAL Fuels firmographics
Firmographics- Name
- OPAL Fuels
- Legal name
- OPAL Fuels LLC
- Website
- https://opalfuels.com
- Company type
- Public
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- OPAL Fuels is a vertically integrated U.S. renewable natural gas producer and distributor that captures methane from landfills and dairy farms, upgrades it to pipeline-quality RNG, and sells it under long-term contracts to heavy-duty trucking fleets through 140+ company-owned fueling stations.
- Ownership category
- akta.pro rank
OPAL Fuels industry classification
Industry- Product category
- Renewable Natural Gas Production and Distribution
- NAICS
- Natural Gas Distribution (2212), Natural Gas Distribution (22121)
- SIC
- Natural Gas Distribution (4924), Natural Gas Transmisison & Distribution (4923)
- akta.pro primary industry
- RNG Injection, Interconnection & Pipeline Quality Compliance (EUAAAEAE)
- akta.pro secondary industry
- RNG Offtake, Marketing & Environmental Attributes (RINs/LCFS/Guarantees of Origin) (EUAAAEAG)
Keywords
Where OPAL Fuels is headquartered
LocationHeadquarters
- HQ city
- White Plains
- HQ country
- United States
- HQ region
- North America
Offices11 records
Markets served
OPAL Fuels business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- RNG Production and Sales: OPAL produces RNG by capturing methane from landfills and dairy farms, converts it to pipeline-quality RNG, and sells the fuel to heavy-duty transportation fleet customers. Revenue is generated from RNG volume sold under long-term supply agreements (typically 10+ years). Additional revenue derives from associated environmental credits including D3 RINs (Renewable Identification Numbers) under the EPA Renewable Fuel Standard and LCFS (Low Carbon Fuel Standard) credits in applicable states.
- Fueling Station Services: OPAL builds, owns, and operates custom-designed RNG/CNG fueling stations for fleet customers. Revenue includes construction and development fees, ongoing station service and maintenance contracts, and fuel dispensing fees. All carbon credits and incentives are passed through to customers via lower fuel costs.
- IRA Tax Credit Monetization: Sale of Investment Tax Credits (ITCs) generated under the Inflation Reduction Act (IRA) for qualifying RNG production facilities. OPAL has completed five ITC sales including a $23M sale for the Atlantic RNG facility in New Jersey. Also includes Section 45Z Clean Fuel Production Tax Credits monetization agreements worth up to $100M.
- Environmental Credit Monetization: Long-term agreements for sale of environmental attributes including RINs and LCFS credits associated with RNG production. NextEra Energy affiliate has entered into a purchase and sale agreement for the majority of OPAL's environmental attributes. D3 RIN price compression noted as a risk factor in 2025-2026.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | RNG fuel supply and station services for fleet operators |
| Other | Multi-year contract | RNG project development for feedstock hosts (landfills, dairy farms) |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
OPAL Fuels product offering
Product offeringCore offering
OPAL Fuels is a fully integrated, nationwide producer and distributor of renewable natural gas (RNG). It captures methane emissions from landfills and dairy farms, upgrades the gas to pipeline quality, and delivers it as vehicle fuel to heavy-duty Class 8 trucking fleets through 140+ owned-and-operated CNG/RNG fueling stations. The company also develops and operates on-site RNG production projects for feedstock hosts and manages all environmental credit monetization (RINs, LCFS, IRA ITCs, Section 45Z) on behalf of customers.
Product overview
OPAL Fuels is a fully integrated, nationwide leader in the production and distribution of renewable natural gas (RNG). The company operates a vertical waste-to-energy model combining upstream RNG production from landfills and dairy farms with downstream marketing and distribution of RNG/CNG for heavy-duty transportation fleets. The core offerings include RNG production facilities (Paloma Dairy Sunoma, Atlantic, Pine Bend, Noble Road, New River, Bio Town projects), fueling station development and operations (TruStar Energy brand), and comprehensive project development services for landfill and dairy farm partners. OPAL Fuels serves Class 8 trucking fleets with RNG fuel at costs up to 50% less than diesel, while converting harmful methane emissions into clean, renewable vehicle fuel.
Differentiator
Problem solved
Functional benefit
Brands
- TruStar Energy: RNG fueling station development, construction, and service subsidiary of OPAL Fuels
- Sapphire RNG Facility
Products and services
- Renewable Natural Gas (RNG) Production Capture of methane emissions from landfills and dairy farms and conversion into pipeline-quality renewable natural gas for use as vehicle fuel in heavy-duty trucking; produced by OPAL's vertically integrated platform across multiple production facilities.
- RNG/CNG Fueling Station Development and Operations In-house engineering, design, permitting, construction, and 24/7 monitoring of RNG/CNG fueling stations for fleet operators; supports fast-fill, time-fill, and compact station configurations behind customer depots or at shared locations.
- RNG Fuel Supply (Fleet Customers) Long-term volume-based supply of renewable natural gas to Class 8 heavy-duty trucking fleets at OPAL-owned fueling stations, with RIN/LCFS credit value passed through as a discounted fuel price.
- RNG Project Development for Producers Full-lifecycle RNG project development service provided to landfill owners and dairy/livestock farmers, including plant design, permitting, construction, operations, optimization, and project financing; feedstock hosts receive long-term revenue share.
- CNG/RNG Parts and Service Parts supply and 24/7 emergency service support for CNG/RNG fueling stations operated by OPAL and third-party customers, delivered through a national service network of 60+ technicians.
- Hydrogen Refueling Infrastructure (Emerging) Co-developed hydrogen refueling stations for heavy-duty fuel-cell electric trucks behind customer depots, leveraging OPAL's RNG portfolio as feedstock to lower the carbon intensity of hydrogen production.
Quantifiable outcome
- RNG costs 40–70% less per gallon than diesel fuel for fleet operators
- +8 more outcomes
Companies that use OPAL Fuels
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles3 records
OPAL Fuels technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
OPAL Fuels partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered flagship, major, supporting and emerging.
- South Jersey Industries (SJI)flagship50/50 joint venture to develop and operate RNG facilities. Inaugurated Atlantic RNG facility at Atlantic County Utilities Authority landfill in Egg Harbor Township, New Jersey (October 2025). Facility has nameplate capacity of 2,500 SCFM of landfill gas and produces over 650,000 MMBtu annually of pipeline-quality RNG injected into South Jersey Gas pipelines. SJI purchases the RNG; OPAL manages development and operations. Fifth ITC sale (~$23M) completed for this facility, with OPAL receiving $11.5M.
- GFL Environmental Inc.flagship50/50 joint venture to develop, construct, and operate RNG production facilities at GFL-owned landfill sites in the United States. First project in Michigan expected to produce 2 million MMBtu/year (early 2023). Second project in North Carolina expected to produce over 1 million MMBtu/year (mid-2023). OPAL also operates an existing RNG facility at a GFL Pennsylvania landfill producing ~890,000 MMBtu/year. In 2026, the partnership advanced construction of two additional facilities at Stones Throw Landfill (Alabama) and Grady Road Landfill (Georgia) with combined capacity of nearly 2 million MMBTU, supplying fuel for about 800 heavy-duty Class 8 trucks.
- Paloma Dairy / Van Hofwegen FamilymajorSunoma Renewable Biofuel Project at Paloma Dairy in Gila Bend, Arizona. $65M+ investment producing 1.6M GGE annually from dairy manure anaerobic digestion. Prevents 54,000 metric tons of CO2 equivalent annually. Creates revenue stream for multi-generational dairy. 50 construction jobs and 4 full-time positions created. Montrose Environmental Group provided design/engineering; ISC led construction; Southwest Gas purchases the gas; Live Oak Bank provided debt financing.
- Montrose Environmental GroupsupportingDesign, engineering, construction oversight, and equipment procurement for Paloma Dairy Sunoma RNG Project. Montrose Water and Sustainability Services division provided subject matter expertise for the anaerobic digestion project. Also provided commissioning support. OPAL engaged Montrose for Atlantic RNG facility engineering as well.
- Nikola CorporationemergingMemorandum of Understanding signed September 2021 to co-develop and co-market hydrogen refueling infrastructure for heavy-duty fuel-cell electric vehicles (FCEV) in North America. Initial focus on 'behind the fence' private fleet fueling. OPAL to leverage growing RNG portfolio to cost-effectively reduce carbon intensity of Nikola's hydrogen supply. Nikola's Tre FCEVs for North America targeted 2023+ launch. Parties to initiate beta projects with select customers.
- Republic Services, Inc.majorRNG project development at Republic Services' Pine Bend Landfill in Inver Grove Heights, Minnesota — the first landfill RNG production facility in Minnesota. Partnership with NextEra Energy Marketing. Project produces over 6M GGE/year, captures 3,200 SCFM of landfill gas, creates 2,140 dekatherms of RNG per day. Xcel Energy provides pipeline interconnection. Supports Republic's goal to send 50% more biogas to beneficial reuse by 2030.
- Xcel Energy, Inc.supportingPipeline interconnection partner for Pine Bend RNG Project in Minnesota. Xcel Energy operates the gas pipeline into which RNG is injected at Republic Services' Pine Bend Landfill. As the leading electric and gas utility in the region, Xcel Energy enables the delivery of RNG to end markets.
- Rumpke Waste & RecyclingmajorRNG project development at Rumpke's Noble Road Landfill in Shiloh, Ohio. $33M project captures 20,323 tons of methane annually (equivalent to 49,940 tons of CO2). Produces 6.9M GGE per year, enough to fuel 725 biofuel trucks. Chesapeake Utilities/Aspire Energy purchases the RNG. Project created 35–40 construction jobs and 3 permanent operations positions. OPAL developed and operates the facility.
- Chesapeake Utilities CorporationmajorRNG offtake and pipeline partner for Noble Road RNG Project in Ohio. Affiliate Aspire Energy's pipelines distribute the RNG produced at Rumpke's Noble Road landfill. Chesapeake Utilities is one of the largest RNG stakeholders through its affiliate, representing nearly 10% of Aspire Energy's entire system volume once flowing. Recognized as a Top Workplace in Delaware for nine consecutive years.
- Air LiquidesupportingProprietary membrane technology provider for RNG upgrading at Noble Road and other OPAL facilities. Membranes remove CO2 and other components from landfill gas to produce pipeline-quality RNG. Air Liquide is a multinational leading company in gases, technologies, and services for industry and health.
Scale indicators17 records
Recent moves10 records
Expansion highlights6 records
OPAL Fuels competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
OPAL Fuels social profiles
Digital presenceOPAL Fuels financial estimates
Financial estimateRevenue estimate
Valuation estimate
OPAL Fuels leadership team
Management profileNumber of profiles
Profiles10 records
OPAL Fuels subsidiaries and ownership
Company hierarchySubsidiaries3 records
OPAL Fuels funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OPAL Fuels M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OPAL Fuels
What does OPAL Fuels do?
OPAL Fuels is a fully integrated, nationwide producer and distributor of renewable natural gas (RNG). It captures methane emissions from landfills and dairy farms, upgrades the gas to pipeline quality, and delivers it as vehicle fuel to heavy-duty Class 8 trucking fleets through 140+ owned-and-operated CNG/RNG fueling stations. The company also develops and operates on-site RNG production projects for feedstock hosts and manages all environmental credit monetization (RINs, LCFS, IRA ITCs, Section 45Z) on behalf of customers.
Is OPAL Fuels a public or private company?
OPAL Fuels is a public company. It is classified as public and is currently operating.
When was OPAL Fuels founded?
OPAL Fuels was founded in 2020. It employs 251 to 500 people.
Where is OPAL Fuels based?
OPAL Fuels is headquartered in White Plains, United States, in the North America region.
How does OPAL Fuels make money?
Four revenue lines are on record. RNG Production and Sales are the primary driver. The others are fueling Station Services, IRA Tax Credit Monetization and environmental Credit Monetization.
Does OPAL Fuels have an API?
No public API is recorded for OPAL Fuels.
What industry is OPAL Fuels in?
OPAL Fuels's product category is Renewable Natural Gas Production and Distribution. Its primary akta.pro industry code is EUAAAEAE, RNG Injection, Interconnection & Pipeline Quality Compliance, with a secondary code of EUAAAEAG, RNG Offtake, Marketing & Environmental Attributes (RINs/LCFS/Guarantees of Origin). Its NAICS code is 2212 and its SIC code is 4924.