Private US investor Fortistar creates integrated RNG network
Fortistar LLC, a privately-owned investment firm focused on providing capital to address complex sustainability challenges, said April 22 two of its portfolio companies had merged to create a fully-integrated renewable natural gas (RNG) supply company.
Fortistar Methane Group (FMG), a growing developer of RNG facilities and one of the largest landfill-gas-to-energy companies in the US, and TruStar Energy, which provides RNG for the transportation sector, will merge to become Opal Fuels, with 140 RNG refuelling stations nationwide.
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“Opal will lead the effort to decarbonise America’s transportation industry, which generates the largest share of annual greenhouse gas (GHG) emissions, by supplying clean, sustainable energy fuelled by renewable natural gas,” Fortistar president Mark Comora said.
Opal Fuels will maintain one of the largest portfolios of internally-produced RNG to ensure a stable for its customers. And it offers a natural platform for growth by converting its landfill gas electric projects to RNG facilities and developing new greenfield capacity from animal waste digesters and new landfill projects.
Opal will also work to develop renewable hydrogen as an emerging fuel, Fortistar said.
TruStar has completed 380 natural gas fuelling stations across the US. FMG is in the midst of a $500mn expansion to complete construction on the fifth of 12 RNG projects that together will provide over 100mn gas gallon equivalents annually of RNG.