OPAL Fuels Powers Ahead: Strong Q1 Performance, Exciting Business Developments
OPAL Fuels delivered a solid first quarter of 2026 performance despite a challenging operating environment. The company's production is improving in line with expectations, and environmental credit pricing has shown signs of firming.
In a call with investors, Adam Comora, Co-Chief Executive Officer of OPAL Fuels, highlighted the progress made during the quarter. "We remain on track to meet our full-year guidance," he said. "Production is improving in line with our expectations, and we are encouraged by the firming of environmental credit pricing."
One of the most exciting developments for OPAL Fuels has been the increased engagement from business development activities related to new CNG (Compressed Natural Gas) and RNG (Renewable Natural Gas) fleet deployments in heavy-duty trucking. Comora attributed this logjam finally breaking due to factors such as high and volatile diesel pricing, regulatory clarity regarding combustion engines, and successful tests of the Cummins X15N.
"CNG is a winning economic proposition for fleets," he explained. "It supports their operations with minimal change and disruption, and the fact we deliver low carbon intensity RNG and its ancillary benefits make it that much more compelling."
The company's presence at ACT Expo, the industry's flagship conference, further underscored the excitement around RNG and CNG. Fleet managers are recognizing the value of these fuels not only for their financial benefits but also for achieving ESG (Environmental, Social, and Governance) goals, building brand equity, and remaining competitive in the market.
OPAL Fuels is well-positioned to capitalize on this trend given the abundance of natural gas in North America. As Comora pointed out, "Natural gas in North America is abundant and is expected to remain cheaper to oil on an energy equivalency value for the foreseeable future."
The company cited examples of heavy-duty industries that have already shifted from oil and coal to natural gas, such as steel, chemicals, and manufacturing. With diesel fuel becoming increasingly expensive and scarce, OPAL Fuels believes heavy-duty trucking can be the next sector to transition to natural gas.
The refuse industry is already showing signs of adopting CNG, with the largest refuse company in the US closing in on 100% deployment for their fleet, and an estimated 30% CNG deployment across the broader refuse industry growing steadily.
