FOLSOM, N.J. & WHITE PLAINS, N.Y.–(BUSINESS WIRE)–South Jersey Industries (SJI), an energy infrastructure holding company, and OPAL Fuels Inc. (Nasdaq: OPAL), a vertically integrated leader in the capture and conversion of biogas into low carbon intensity renewable natural gas (RNG) and renewable electricity, announced today that construction has commenced on an RNG production facility, with an annual design capacity of nearly 0.92 million MMBtus, at the Burlington County Resource Recovery Complex solid waste landfill in Florence Township, New Jersey. The project represents the second collaboration between the companies to develop, construct, own and operate RNG facilities.
Using proven technology, the project will capture methane produced naturally from the decomposition of organic material from the Burlington County Resource Recovery Complex and transform it into RNG, a low-carbon, low-cost transportation fuel. Approximately 6.5 million gas gallons equivalent (GGE) of RNG can be produced annually from the design capacity of the plant. OPAL Fuels will distribute the RNG via its fueling station network to heavy-duty trucks to help lower emissions from these vehicles while also reducing fuel costs for these fleets. Once fully operational and when used as a transportation fuel, the RNG produced at the Burlington County Resource Recovery Complex will reduce methane emissions from the landfill and avoid the use of fossil fuels, and is expected to displace over 530,000 metric tons of carbon dioxide (CO2) per year. As such, the project is addressing the two most critical greenhouse gas issues causing climate change today: methane and transportation emissions.
“We are proud to work with SJI to develop the Burlington RNG facility, encouraging renewable energy production in New Jersey and supporting the state’s transition to a low carbon economy,” said Jonathan Maurer, co-CEO, OPAL Fuels. “Burlington is the latest addition to our growing number of RNG projects, a portfolio of assets underpinned by a proven solution to bring value to our landfill partners and fight climate change both at the source of emissions and in the transportation sector.”
“SJI is proud to partner with OPAL Fuels on the construction of the Burlington Renewable Natural Gas Facility,” said Mike Renna, President and CEO of SJI. “We are energized to continue our journey towards advancing a sustainable energy landscape in New Jersey.”
About SJI
South Jersey Industries (SJI), an energy infrastructure holding company based in Folsom, NJ, delivers energy services to customers through two primary subsidiaries: SJI Utilities (SJIU) and SJI Renewable Energy Ventures. SJIU houses the company’s regulated natural gas utility operations, delivering safe, reliable and affordable natural gas to more than 725,000 residential, commercial and industrial customers across New Jersey via its South Jersey Gas and Elizabethtown Gas subsidiaries. SJI Renewable Energy Ventures, a non-utility subsidiary of SJI, specializes in the ownership, development, construction, and operation of diverse renewable energy projects. These projects include the development of solar, fuel cell, and Renewable Natural Gas (RNG) sourced from a variety of feedstocks including dairy manure, landfill gas, and organic food waste. With a robust portfolio and pipeline of future projects, SJI Renewable Energy Ventures is positioned to be a national leader in advancing sustainable energy solutions. Visit sjindustries.com for more information about SJI and its subsidiaries.
About OPAL Fuels Inc.
OPAL Fuels Inc. (Nasdaq: OPAL) is a leader in the capture and conversion of biogas into low-carbon intensity renewable natural gas (RNG) and renewable electricity. OPAL Fuels is also a leader in the marketing and distribution of RNG to heavy-duty trucking and other hard-to-de-carbonize industrial sectors. In addition to the 17 RNG facilities OPAL Fuels has in operation and construction today, the company also has 16 renewable power projects in operation and under construction and an extensive dispensing operation, which delivers renewable fuel to heavy-duty fleet customers through a nationwide network of more than 300 fueling stations. To learn more about OPAL Fuels and how it is leading the effort to capture North America’s harmful methane emissions and decarbonize the economy, please visit www.opalfuels.com.
Forward-Looking Statements
Certain statements in this communication may be considered forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events or OPAL Fuels’ (the “Company’s”) future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include various factors beyond management’s control, including, but not limited to, general economic conditions and other risks, uncertainties and factors set forth in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.
Disclaimer
This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Contacts
OPAL Fuels Investors
Todd Firestone
Vice President Investor Relations and Corporate Development
914-705-4001
[email protected]
OPAL Fuels Media
Michelle Stein
Vice-President, Corporate Communications
914-421-5312
[email protected]
SJI Media
Krystle Straus
Vice President, Communications
609-561-9000 (ext. 4131)
[email protected]