OPAL Fuels Announces Exchange of High-Voting Stock for Low-Voting Stock by Controlling Stockholder

OPAL Fuels Inc. (the “Company”) (Nasdaq: OPAL), a vertically integrated leader in the capture and conversion of biomethane into low carbon intensity renewable electricity and renewable natural gas (RNG), announced that its ultimate controlling shareholder, Fortistar LLC (“Fortistar”), has exchanged 71.5 million shares of Class D common stock of the Company held by it, each of which is entitled to five votes per share on all matters on which stockholders generally are entitled to vote, for an equal number of shares of newly issued Class B common stock of the Company, each of which is entitled to one vote on such matters. This transaction has no effect on the economic interest in the Company held by Fortistar.

“With Fortistar reducing a significant portion of its voting control, the Company anticipates that its publicly traded Class A common stock will become eligible for inclusion in certain stock market indices, on which many broad-based mutual funds and exchange-trade index funds are based,” said Mark Comora, the Company’s Chairman.

Note that the Company cannot ensure that the Company’s Class A common stock will be included in any stock market indices as a result of this exchange, which is out of the Company’s control, or that, if its stock is included, that it will have any effect on the price per share of the Company’s Class A common stock.

About OPAL Fuels Inc.

OPAL Fuels Inc. is a vertically integrated leader in the capture and conversion of biomethane into low carbon intensity renewable natural gas (RNG) and Renewable Power. 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. RNG is chemically identical to the natural gas used for cooking, heating homes, and fueling natural gas engines, with one significant difference: RNG is produced by recycling harmful biomethane emissions created by decaying organic waste as opposed to natural gas which is a fossil fuel pumped from the ground. 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.