Montauk seals European RNG deal

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Montauk seals European RNG deal

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Published Date: 2021-05-11 | Source: Stephen Gunnion | Author: Stephen Gunnion

Montauk seals European RNG deal

The agreement will result in its renewable natural gas used to make fuel for the European vehicle market.

Montauk Renewables has reached a deal to sell a portion of its renewable natural gas (RNG) production as a feedstock to make fuel for the European market. From July, it will sell approximately 900,000 MMBtu of its production a year to Iogen RC Fuels under a new 4.5 year fixed-price agreement to make vehicle fuel to serve the European market.

Montauk is based in Pittsburgh, Pennsylvania and is one of the most experienced developers and operators of RNG and landfill gas to electricity facilities in the US, with 14 plants in 6 states. It captures methane, preventing it from being released into the atmosphere, converts it into either renewable electricity or RNG, which it sells. As a result, it benefits from environmental attribute premiums available under federal and state policies that incentivises their use.

The latest deal follows the company's successful registration of three of its RNG production facilities whose production may be now used to meet mandatory targets for the use of renewable energy in transport under the European Union Renewable Energy Directive.

Its shares closed 9.2% up at R139.80 yesterday.





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