secwatch / observer

OPAL Fuels Inc. — fact timeline

Source-grounded facts extracted from OPAL Fuels Inc.'s SEC 8-K filings across all families, newest first. Each cites a verbatim SEC excerpt.

OPAL OPAL Fuels Inc. JSON
Shareholder Votes

OPAL Fuels Inc. shareholders approved Ratification of the appointment of BDO USA, P.C. as the Company’s independent registered public accounting firm for the year ending December 31, 2026. at the 2026-06-17 meeting.

“Proposal 2 - Ratification of the appointment of BDO USA, P.C. as the Company’s independent registered public accounting firm for the year ending December 31, 2026. FOR AGAINST ABSTENTIONS Broker Non-Votes 256,881,212 74,151 2,276 —”
Shareholder Votes

OPAL Fuels Inc. shareholders approved Election of eight directors to hold office until the Annual Meeting of Stockholders to be held in 2027 or until each such director’s respective successor is elected and qualified or until each such director’s earlier death, resignation or removal. at the 2026-06-17 meeting.

“Proposal 1 - Election of eight directors to hold office until the Annual Meeting of Stockholders to be held in 2027 or until each such director’s respective successor is elected and qualified or until each such director’s earlier death, resignation or removal. Nominee FOR WITHHELD Broker Non-Votes Mark Comora, Chairman 246,057,694 4,493,592 6,406,353 Betsy L. Battle 247,691,808 2,859,478 6,406,353 Scott Dols 247,414,197 3,137,089 6,406,353 James Martell 247,466,228 3,085,058 6,406,353 Lance Moll 250,143,781 407,505 6,406,353 Nadeem Nisar 246,580,453 3,970,833 6,406,353 Scott Sutton 250,142,981 408,305 6,406,353 Ashok Vemuri 247,404,037 3,147,249 6,406,353”
Earnings Releases

OPAL Fuels Inc. reported the three months ended March 31, 2026 results: revenue $73.4 million, net income $(5.6) million, EPS $(0.09) per diluted share. Guidance reaffirmed.

“Revenue for the three months ended March 31, 2026 and 2025, was $73.4 million and $85.4 million respectively, a decrease of (14)%, compared to the same period last year. 1 • Net (loss) income for the three months ended March 31, 2026 was $(5.6) million, compared to $1.3 million in the same period last year. • Basic and diluted net loss per share attributable to Class A common shareholders for the three months ended months ended March 31, 2026 were $(0.09) compared to $(0.01) in the comparable period last year.”
Earnings Releases

OPAL Fuels Inc. reported financial results for the three and twelve months ended December 31, 2025.

“On March 16, 2026 , OPAL Fuels Inc. (the "Company") issued a press release regarding its financial results for the year ended December 31, 2025.”
Governance Changes

OPAL Fuels Inc.: OPAL Fuels LLC approved and adopted an Amended and Restated Certificate of Designations of Series A Preferred Units, increasing dividend rates to 12% per annum, revising mandatory redemption provisions, and adding enhanced protective covenants and transfer restrictions (effective 2026-03-06).

“on March 6, 2026, OPAL Fuels LLC approved and adopted an Amended and Restated Certificate of Designations of Series A Preferred Units (the " Amended Series A Certificate of Designations "). Among other things, the Amended Series A Certificate of Designations increased the dividend rates to 12% per annum (compounding quarterly) with a partial payment-in-kind option, revised the mandatory redemption provisions (including the addition of redemption triggers upon certain events or after the fifth anniversary of the issuance date), added enhanced protective covenants and transfer restrictions, and updated certain other terms and definitions to reflect the current transaction structure.”
Debt Financings

OPAL Fuels Inc. incurred credit facility of approximately $128.4 million with Bank of America, N.A..

“OPAL Fuels Intermediate HoldCo LLC (the “ Borrower ”), a subsidiary of the Company, prior to the expiration of the delayed draw availability, recently drew down approximately $128.4 million under that certain Credit and Guarantee Agreement”

Kevin Fogarty departed as Director at OPAL Fuels Inc..

“On April 21, 2025, Kevin Fogarty advised the Board of Directors (the “Board”) of OPAL Fuels Inc. (the “Company”) that he will not be standing for re-election to the Board at the Company’s 2025 Annual Meeting of Stockholders (the “Annual Meeting”).”

Kazi Hasan was appointed as Principal Accounting Officer at OPAL Fuels Inc..

“Mr. Hasan was also appointed Principal Accounting Officer, effective as of March 18, 2025.”

Scott Contino departed as Interim Chief Financial Officer and Principal Financial Officer at OPAL Fuels Inc..

“Mr. Scott Contino will resign as the Company’s Interim Chief Financial Officer and Principal Financial Officer.”

Kazi Hasan was appointed as Chief Financial Officer and Principal Financial Officer at OPAL Fuels Inc..

“On February 3, 2025, OPAL Fuels Inc. (the “Company”) announced the appointment of Mr. Kazi Hasan as Chief Financial Officer and Principal Financial Officer, effective as of February 3, 2025.”

Anthony Falbo resigned as Chief Operating Officer at OPAL Fuels Inc..

“On June 25, 2024, Mr. Anthony Falbo, chief operating officer of OPAL Fuels Inc. (“OPAL Fuels” or the “Company”), tendered his resignation, to be effective August 2, 2024, in order to pursue another opportunity, and the Company wishes him well with this new endeavor.”
Material Agreements

OPAL Fuels Inc. amended First Amendment to Landfill Gas Purchase Agreement with Polk County valued at Amendment provides for the Company to construct, at its sole expense, an additional flare for the re (effective 2024-03-06).

“On March 27, 2024, a wholly-owned subsidiary of OPAL Fuels Inc. (referred to herein as the “ Company ”) entered into a First Amendment (the “ Amendment ”) to the Landfill Gas Purchase Agreement dated May 2, 2023 between the Company and Polk County, a political subdivision of the State of Florida (“ Polk ”).”
Material Agreements

OPAL Fuels Inc. entered into Site Lease with Polk County valued at Payments by the Company to Polk in consideration for the Site Lease are de minimis. (effective 2024-03-20).

“On March 27, 2024, the Company entered into a lease and access agreement (the “ Site Lease ”), which is effective as of March 20, 2024, with Polk that provides the Company with the right to build and operate the Facility on a parcel of real property located at or near the landfill.”
Debt Financings

OPAL Fuels Inc. amended credit facility of $2.0 million each on the last business day of each fiscal quarter in 2024, and to the extent funds are available on such.

“The Credit Agreement Amendment and the Depositary Agreement Amendment together require prepayments of principal in the amount of $2.0 million each on the last business day of each fiscal quarter in 2024, and to the extent funds are available on such dates, additional prepayments in the amounts of $2.5 million, $6.0 million, $10.0 million and $15.0 million (each a “Target Aggregate Special Principal Prepayment Amount”)”
Debt Financings

OPAL Fuels Inc. amended term loan of from a maximum aggregate principal amount of $85.0 million to approximately $81.0 million.

“Availability under the Credit Agreement’s delayed term loan facility (the “DDTL Facility”) has been reduced from a maximum aggregate principal amount of $85.0 million to approximately $81.0 million”
Debt Financings

OPAL Fuels Inc. amended revolving credit of up to a maximum aggregate principal amount of $10.0 million with Bank of Montreal at substantially the same terms as the DSR Facility.

“the Credit Agreement Amendment reclassifies the debt service reserve facility (the “DSR Facility”) under the Credit Agreement as a revolving loan facility of up to a maximum aggregate principal amount of $10.0 million (the “Revolving Loan Facility”) on substantially the same terms as the DSR Facility”
Material Agreements

OPAL Fuels Inc. entered into At Market Issuance Sales Agreement with B. Riley Securities, Inc., Cantor Fitzgerald & Co. and Stifel, Nicolaus & Company, Incorporated valued at up to $75 million of Class A common stock (effective 2023-11-17).

“On November 17, 2023, OPAL Fuels Inc. (the “Company”) entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc., Cantor Fitzgerald & Co. and Stifel, Nicolaus & Company, Incorporated (each, an “Agent,” and collectively, the “Agents”) pursuant to which the Company may issue and sell shares of its Class A common stock having an aggregate offering price of up to $75 million from time to time through the Agents.”
Earnings Releases

OPAL Fuels Inc. reported three and nine months ended September 30, 2023 results: revenue $71.1 million and $169.1 million, net income $0.2 million and $106.9 million, EPS $(0.01) and $0.59.

“near and longer-term earnings power of the business,” said co-CEO Jonathan Maurer. 1 Financial Highlights • Revenues for the three and nine months ended September 30, 2023, were $71.1 million and $169.1 million, up 7% and 0.2% compared to same periods last year. • Net income for the three and nine months ended September 30, 2023, was $0.2 million and $106.9 million”
Earnings Releases

OPAL Fuels Inc. reported financial results for three and nine months ended September 30, 2023.

“On November 13, 2023, OPAL Fuels Inc. (the "Company") issued a press release regarding its financial results for the three and nine months ended September 30, 2023. A copy of the press release is furnished as Exhibit 99.1 hereto.”

Scott Contino was appointed as Interim Chief Financial Officer, Interim Principal Financial Officer and Interim Principal Accounting Officer at OPAL Fuels Inc..

“the appointment of Scott Contino as Interim Chief Financial Officer, Interim Principal Financial Officer and Interim Principal Accounting Officer”

Ann Anthony resigned as Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer at OPAL Fuels Inc..

“the resignation of Ann Anthony as the Company's Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer”

Scott Contino was appointed as Interim Chief Financial Officer at OPAL Fuels Inc..

“On October 10, 2023, the board of directors of the Company appointed Mr. Scott Contino as Interim Chief Financial Officer.”

Ann Anthony resigned as Chief Financial Officer at OPAL Fuels Inc..

“On October 5, 2023, Ms. Ann Anthony gave notice of her intention to resign as Chief Financial Officer ("CFO") of OPAL Fuels Inc. (the “Company”) to pursue another professional opportunity.”
Debt Financings

OPAL Fuels Inc. incurred credit facility of $500 million with Bank of America, N.A., as administrative agent at Term SOFR plus 3.5%, increasing by 0.25% per annum during the term maturing five-year anniversary of the closing date.

“On September 1, 2023, Opal Fuels Intermediate HoldCo LLC (“ Intermediate HoldCo ” or the “ Borrower ”)), an indirect wholly-owned subsidiary of OPAL Fuels Inc. (the “ Company ”) entered into a new $500 million senior secured credit facility (the “ Credit Facility ”) pursuant to a Credit and Guarantee Agreement (the “ Credit Agreement ”) with Intermediate HoldCo as the Borrower, direct and indirect subsidiaries of the Borrower as guarantors (the “ Guarantors ”), the lenders party thereto, as lenders, Apterra Infrastructure Capital LLC, Barclays Bank PLC, BofA Securities, Inc., Celtic Bank Corporation, Citibank, N.A., JP Morgan Chase Bank, N.A. Investec Inc. and ICBC Standard Bank PLC, as joint lead arrangers, and Bank of America, N.A., as administrative agent.”
Material Agreements

OPAL Fuels Inc. entered into Guadalupe Agreements with Guadalupe Rubbish Disposal Co., Inc. valued at Landfill gas purchase and sale agreement and lease agreement; 25-year term from commencement of oper (effective 2023-08-28).

“On August 28, 2023, a separate, wholly-owned subsidiary of the Company entered into a Landfill Gas Purchase and Sale Agreement and a Lease Agreement (collectively, the “ Guadalupe Agreements ”) with Guadalupe Rubbish Disposal Co., Inc. (" GRD "), an affiliate of WM.”
Material Agreements

OPAL Fuels Inc. entered into Kirby Agreements with Waste Management of California, Inc. valued at Landfill gas purchase and sale agreement and lease agreement; 25-year term from commencement of oper (effective 2023-08-28).

“On August 28, 2023, a wholly-owned subsidiary of OPAL Fuels Inc. (referred to herein as the “ Company ”) entered into a Landfill Gas Purchase and Sale Agreement and a Lease Agreement (collectively, the “ Kirby Agreements ”) with Waste Management of California, Inc. (" WM ").”
Earnings Releases

OPAL Fuels Inc. reported three and six months ended June 30, 2023 results: revenue $55.0 million and $98.0 million, net income $114.1 million and $106.7 million, EPS $0.66 and $0.60. Guidance reaffirmed.

“we believe we are well positioned heading into the second half of 2023.” said Maurer. 1 Financial Highlights • Revenues for the three and six months ended June 30, 2023, were $55.0 million and $98.0 million, up 3% and down 4%, in the first half of the year compared to the same periods last year. As disclosed in previous reporting, revenue was affected by our”

James Martell was appointed as Director at OPAL Fuels Inc..

“On June, 28, 2023, to fill the vacancy arising from Mr. Gatti’s resignation, the Company appointed James Martell as a director and as a member of the to the Board and the Audit Committee.”

Marco Gatti resigned as Director at OPAL Fuels Inc..

“On June 26, 2023, Mr. Marco Gatti tendered his resignation from the Board of Directors (the “Board”) of OPAL Fuels Inc. (the “Company”), such resignation to become effective upon the appointment of his successor .”
Shareholder Votes

OPAL Fuels Inc. shareholders approved Ratification of the appointment of BDO USA, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2023. at the 2023-06-23 meeting.

“Item 2 - Ratification of the appointment of BDO USA, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2023. FOR AGAINST ABSTENTIONS Broker Non-Votes 737,621,288 36,195 1,550 0”
Shareholder Votes

OPAL Fuels Inc. shareholders approved Election of seven directors to hold office until the Annual Meeting of Stockholders to be held in 2024 or until each such director's respective successor is elected and qualified or until each such director's earlier death, resignation or removal. at the 2023-06-23 meeting.

“Item 1 - Election of seven directors to hold office until the Annual Meeting of Stockholders to be held in 2024 or until each such director's respective successor is elected and qualified or until each such director's earlier death, resignation or removal. Nominee FOR WITHHELD Broker Non-Votes Mark Comora, Chairman 731,283,912 2,291,193 4,083,928 Betsy L. Battle 732,231,052 1,344,053 4,083,928 Scott Dols 732,231,052 1,344,053 4,083,928 Kevin M. Fogarty 733,358,460 216,645 4,083,928 Marco F.Gatti 733,358,425 216,680 4,083,928 Nadeem Nisar 731,284,260 2,290,845 4,083,928 Ashok Vemuri 733,358,459 216,646 4,083,928”
Debt Financings

OPAL Fuels Inc. incurred credit facility of up to a maximum aggregate principal amount of $85.0 million with Bank of Montreal at adjusted Term SOFR plus 3.5% to 3.75% maturing May 30, 2028.

“The Credit Agreement provides for an approximately two-year delayed term loan facility (the “DDTL Facility”) of up to a maximum aggregate principal amount of $85.0 million and a debt service reserve facility (the “DSR Facility”) of up to a maximum aggregate principal amount of $10.0 million.”
Earnings Releases

OPAL Fuels Inc. reported the three months ended March 31, 2023 results: revenue $43.0 million, net income $7.3 million, EPS $0.06.

“Fuels proportional ownership with respect to RNG projects owned with joint venture partners. 1 Financial Highlights • Revenues for the three months ended March 31, 2023, were $43.0 million, down 12%, compared to to the same period last year. • Net loss for the three months ended March 31, 2023, was $7.3 million compared to $4.5 million in the same period last year.”
Earnings Releases

OPAL Fuels Inc. reported three months ended March 31, 2023 results: revenue $43.0 million, net income Net loss for the three months ended March 31, 2023, was $7.3 million, EPS Basic and diluted loss per share attributable to Class A common shareholders for the three months ended March 31, 2023 w.

“Revenues for the three months ended March 31, 2023, were $43.0 million, down 12%, compared to to the same period last year. • Net loss for the three months ended March 31, 2023, was $7.3 million compared to $4.5 million in the same period last year. • Basic and diluted loss per share attributable to Class A common shareholders for the three months ended March 31, 2023 was $0.06.”
Material Agreements

OPAL Fuels Inc. entered into Landfill Gas Purchase Agreement with Polk County (effective 2023-05-02).

“On May 2, 2023, a wholly-owned subsidiary of OPAL Fuels Inc. (referred to herein as the “ Company ”) entered into a Landfill Gas Purchase Agreement (the “ Agreement ”) with Polk County, a political subdivision of the State of Florida (“ Polk County ”).”
Material Agreements

OPAL Fuels Inc. entered into Lease Agreement with Waste Management of Illinois, Inc. (effective 2023-03-13).

“On April 13, 2023, a wholly-owned subsidiary of OPAL Fuels Inc. (referred to herein as the “ Company ”) entered into a Landfill Gas Purchase and Sale Agreement and a Lease Agreement (collectively, the “ Agreements ”) with Waste Management of Illinois, Inc.”
Material Agreements

OPAL Fuels Inc. entered into Landfill Gas Purchase and Sale Agreement with Waste Management of Illinois, Inc. (effective 2023-03-13).

“On April 13, 2023, a wholly-owned subsidiary of OPAL Fuels Inc. (referred to herein as the “ Company ”) entered into a Landfill Gas Purchase and Sale Agreement and a Lease Agreement (collectively, the “ Agreements ”) with Waste Management of Illinois, Inc.”
Material Agreements

OPAL Fuels Inc. entered into Purchase Agreement with certain accredited entities and managed accounts for which Encompass Capital Advisors LLC exercises investment discretion (effective 2023-03-30).

“On March 30, 2023, OPAL Fuels Inc. (the “ Company ”) issued an aggregate of 49,633 shares of Class A common stock, par value $0.0001 per share (the “ Class A Common Stock ”), to certain accredited entities and managed accounts for which Encompass Capital Advisors LLC exercises investment discretion (the “ Investors ”) pursuant to a securities purchase agreement (the “ Purchase Agreement ”) with the Investors (the “ Offering ”).”
Earnings Releases

OPAL Fuels Inc. reported the twelve months ended December 31, 2022 results: revenue $235.5 million, net income $32.6 million.

“Revenue for the three and twelve months ended December 31, 2022, was $66.7 million and $235.5 million, respectively, up 9% and 42%, compared to prior-year periods. • Net income for the three and twelve months ended December 31, 2022, was $32.0 million and $32.6 million, respectively”
Earnings Releases

OPAL Fuels Inc. reported the three months ended December 31, 2022 results: revenue $66.7 million, net income $32.0 million.

“Revenue for the three and twelve months ended December 31, 2022, was $66.7 million and $235.5 million, respectively, up 9% and 42%, compared to prior-year periods. • Net income for the three and twelve months ended December 31, 2022, was $32.0 million and $32.6 million, respectively”
Material Agreements

OPAL Fuels Inc. amended FM3 Amendment with a lender group led by MUFG Union Bank Ltd, as administrative agent (effective 2022-12-19).

“Also, on December 19, 2022, Fortistar Methane 3 LLC (“ FM3 ”), an indirect subsidiary of Opal Fuels Inc. (the “ Company ”), which is the borrower under that $150 million Second Amended and Restated Credit Agreement, dated as of September 21, 2015, as amended (as so amended, the “ FM3 Credit Agreement ”), provided by a lender group led by MUFG Union Bank Ltd, as administrative agent, and guaranteed by certain direct subsidiaries of FM3, and Opal Fuels LLC (“ Opal Fuels ”), a direct subsidiary of the Company, and the other parties to the FM3 Credit Agreement entered into that Omnibus and Consent Agreement (the “ FM3 Amendment ”).”
Material Agreements

OPAL Fuels Inc. entered into UPS Agreement with UPS (effective 2022-12-15).

“On December 15, 2022, OPAL Fuels Inc. (the “ Company ”) announced its entry into a long-term agreement with UPS ("UPS Agreement") pursuant to which the Company will provide operations and maintenance services to 51 UPS renewable natural gas dispensing stations across the United States.”
Material Agreements

OPAL Fuels Inc. amended Warrant Amendment with Continental Stock Transfer & Trust Company (effective 2022-12-19).

“ement”) to permit the Company to require that each warrant that is outstanding upon the closing of the Offer be exchanged for 0.225 shares of Class A common stock, which is a ratio 10% less than the exchange ratio applicable to the Offer (such amendment, the “Warrant Amendment”). The Offer and Consent Solicitation expired at 11:59 p.m., Eastern Time, on December 16, 2022.”
Earnings Releases

OPAL Fuels Inc. updated its the full year 2022 guidance (initiated).

“Estimated Adjusted EBITDA 2 for the full year 2022 is anticipated to range between $60.0 million and $63.0 million.”
Earnings Releases

OPAL Fuels Inc. reported the nine months ended September 30, 2022 results: revenue $168.8 million, net income $0.6 million.

“results for the three and nine months ended September 30, 2022. Financial Highlights • Revenues for the three and nine months ended September 30, 2022, were $66.6 million and $168.8 million, respectively, up 41% and 61%, compared to prior-year periods. • Net income for the three and nine months ended September 30, 2022, was $5.4 million and $0.6 million,”
Earnings Releases

OPAL Fuels Inc. reported the three months ended September 30, 2022 results: revenue $66.6 million, net income $5.4 million.

“Revenues for the three and nine months ended September 30, 2022, were $66.6 million and $168.8 million, respectively, up 41% and 61%, compared to prior-year periods.”
Earnings Releases

OPAL Fuels Inc. reported Three and nine months ended September 30, 2022 results: revenue $66.6 million (three months) and $168.8 million (nine months), net income $5.4 million (three months) and $0.6 million (nine months). Guidance initiated.

“Revenues for the three and nine months ended September 30, 2022, were $66.6 million and $168.8 million, respectively, up 41% and 61%, compared to prior-year periods. • Net income for the three and nine months ended September 30, 2022, was $5.4 million and $0.6 million, respectively, compared to $0.8 million and $19.0 million, in the same period last year. • Adjusted EBITDA 1 for the three and nine months ended September 30, 2022, was $25.5 million and $40.6 million, respectively, up 130% and 78%, compared to prior-year periods. Full Year 2022 Guidance Expectations • Estimated Adjusted EBITDA 2 for the full year 2022 is anticipated to range between $60.0 million and $63.0 million.”

Steven Berkenfeld resigned as director at OPAL Fuels Inc..

“each of Arno Harris, Dr. Ja-Chin Audrey Lee, Brian Goncher and Steven Berkenfeld resigned from their positions as directors of ArcLight”

Brian Goncher resigned as director at OPAL Fuels Inc..

“each of Arno Harris, Dr. Ja-Chin Audrey Lee, Brian Goncher and Steven Berkenfeld resigned from their positions as directors of ArcLight”

Dr. Ja-Chin Audrey Lee resigned as director at OPAL Fuels Inc..

“each of Arno Harris, Dr. Ja-Chin Audrey Lee, Brian Goncher and Steven Berkenfeld resigned from their positions as directors of ArcLight”

Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.