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Investec, BMO, Comerica Bank Close $105MM Senior Debt Facility for OPAL Fuels

August 09, 2022, 07:46 AM
Filed Under: Fuel & Petroleum

OPAL Fuels, a vertically integrated producer and distributor of renewable natural gas (RNG), closed a five-year, $105 million senior secured debt facility. The facility provides construction financing for designated OPAL Fuels projects upon achieving certain milestones. The lending syndicate is comprised of Investec, Bank of Montreal, and Comerica Bank.

“The closing of our senior secured debt facility today, combined with the $215.8 million generated from the recent completion of our business combination with ArcLight Clean Transition Corp. II, will facilitate execution of our growth plan,” said Adam Comora, Co-CEO of OPAL Fuels. “We believe these transactions are a testament to the strength of our vertically integrated RNG platform and continued awareness of the pivotal role that RNG plays in decarbonizing the heavy-duty transportation industry now.”

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