In This Story
OPAL Fuels Inc. (OPAL+11.64%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements and an overview of the company's operations, highlighting its role as a vertically integrated leader in the capture and conversion of biogas into low carbon intensity renewable natural gas (RNG) and renewable power.
OPAL Fuels reported total revenues of $299.97 million for the year ended December 31, 2024, an increase from $256.11 million in the previous year. This increase was primarily driven by higher revenues in the RNG Fuel and Fuel Station Services segments.
Cost of sales for the RNG Fuel segment was $38.55 million, while the Fuel Station Services segment reported cost of sales of $128.80 million. Renewable Power segment costs were $32.50 million.
The company reported an operating income of $21.22 million, compared to $7.04 million in the previous year, reflecting improved operational performance.
Net income for the year was $14.33 million, down from $127.02 million in the prior year, which included a significant gain from deconsolidation of certain variable interest entities.
The company highlighted its ongoing projects, including 11 RNG projects in operation with a design capacity of 8.8 million MMBtus per year, and 15 renewable power projects with a nameplate capacity of 105.8 MW per hour.
OPAL Fuels' liquidity was reported at $223.6 million, consisting of cash, cash equivalents, and unused capacity under its senior secured credit facility.
The filing also outlines OPAL Fuels' strategy to expand its RNG production capacity and its involvement in the development of hydrogen fueling stations.
The company discussed various risks, including regulatory changes, market demand for RNG, and competition in the renewable energy sector. It also addressed its reliance on government incentives and the potential impact of changes in these incentives on its operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the OPAL Fuels Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.