PITTSBURGH, April 10, 2025 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. ("Montauk" or "the Company") (NASDAQ: MNTK) announces that its subsidiary, Tulsa LFG, LLC broke ground on a Renewable Natural Gas ("RNG") landfill gas project at the American Environmental Landfill, Inc. ("AEL") in Tulsa, Oklahoma in a ceremony on Wednesday, April 9, 2025 (the "Project").
The Project is accompanied by an extension of its existing gas rights and lease agreement with the landfill host, American Environmental Landfill, Inc. ("AEL"). With a variable inlet capacity design, the new RNG facility is anticipated to have a production nameplate capacity averaging approximately 1,500 MMBtu per day, capable of beneficially processing all of the available inlet gas feedstock from its host landfill, which has been meaningfully increasing through Montauk's wellfield investment over the past year.
"Montauk is excited to announce the development of our new RNG facility in Tulsa, Oklahoma, in continued support of AEL, one of our most prized relationships in our portfolio," said Sean McClain, Montauk Renewables CEO. "We believe this project is indicative of our core growth strategy, to align ourselves with exemplary host businesses, and synchronize their growth needs with our development initiatives. The strong historical and continued growth of available feedstock at this project location is a great example of how successful these partnerships can be."
Montauk expects its project capital investment to range between $25 million to $35 million and has a targeted commissioning date in the first quarter of 2027.
About Montauk Renewables, Inc.
Montauk Renewables, Inc. (NASDAQ: MNTK) is a renewable energy company specializing in the management, recovery and conversion of biogas into RNG. The Company captures methane, preventing it from being released into the atmosphere, and converts it into either RNG or electrical power for the electrical grid ("Renewable Electricity"). The Company, headquartered in Pittsburgh, Pennsylvania, has more than 30 years of experience in the development, operation and management of landfill methane-fueled renewable energy projects. The Company has operations at 13 projects and ongoing development projects located in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina, South Carolina, and Texas. The Company sells RNG and Renewable Electricity, taking advantage of Environmental Attribute premiums available under federal and state policies that incentivize their use. For more information, visit. https://ir.montaukrenewables.com
Company Contact:
John Ciroli
Chief Legal Officer (CLO) & Secretary
investors@montaukrenewables.com
(412) 747-8700
Investor Relations Contact:
Georg Venturatos
Gateway Group
MNTK@Gateway-grp.com
(949) 574-3860
Photos accompanying this announcement are available at:
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https://www.globenewswire.com/NewsRoom/AttachmentNg/103e7888-8ca6-4d25-9cf3-c45659f3f484
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