The following is a summary of the OPAL Fuels Inc. (OPAL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• OPAL Fuels posted a Q1 revenue of $65 million, marking an increase from the previous year's Q1 revenue of $43 million due to environmental credit sales timing and pricing, along with RNG Fuel and Fuel Station Services growth.

• Net income for the quarter stood at $0.7 million, showing significant progress from the net loss of $7.3 million in Q1 2023.

• Adjusted EBITDA for the quarter was $15.2 million, showing a positive shift from the previous year's Q1 negative $1.6 million.

• The RNG Fuel segment showed promising growth, with revenues reaching $17.7 million in Q1 2024 up from Q1 2023's $6.7 million.

• The Fuel Station Services segment posted a revenue of $37.1 million in Q1, a significant increase from the $20.8 million recorded in Q1 2023.

• Q1 capital expenditures stood at $37.7 million, with expectations of aligning with the full year guidance.

Business Progress:

• The ninth RNG facility, Prince William, has started operations, with six additional RNG projects also under construction.

• RNG production in Q1 increased to 0.8 million MMBtu, primarily due to the Emerald RNG project contribution.

• Through upcoming projects like the Sapphire and Polk County projects, the company is projecting an exit design capacity of 8.8 million MMBtu for 2024.

• Atlantic RNG project, a joint venture with South Jersey Industries, plans to commence operations in 2025.

• The organization is also focusing on optimizing utilization of inlet gas and improving efficiency to convert raw biogas.

• The company is actively seeking new growth opportunities not only in landfill RNG projects, but also in areas like agricultural waste, wastewater, and food waste.

• Large initiatives, like the Cottonwood Project, are demonstrating the company's capabilities and developmental proficiency.

• The company continues to prioritize tackling climate change while exploring regulatory opportunities such as potential eRINs inclusion into the RFS.

• Despite potential challenges, such as disputes with EPC construction contractors, the company demonstrates optimism for capturing royalties and managing CapEx.

More details: OPAL Fuels IR

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