OPAL Fuels delays ITC sales, cuts FY2023 Adjusted EBITDA guidance by $8.5M due to IRS proposal

OPAL Fuels Inc.

IRS proposed regulations on Nov 17 create inconsistencies for ITC credits on renewable projects.
Company delaying pending ITC sales transactions until IRS clarifies issues.
Removing anticipated $8.5M ITC proceeds from FY2023 Adjusted EBITDA guidance.
Revised FY2023 Adjusted EBITDA guidance now $51.5-54.5M (down from $60-63M).
Proposed regulations are open for comment; final outcome uncertain.

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