Based in Pittsburgh, Pennsylvania, Montauk Energy Holdings is a subsidiary of Montauk Holdings Limited, a publicly traded company listed on the Johannesburg Stock Exchange (Ticker: MNK).
Montauk Holdings Limited (“MNK”) (JSE:MNK) announced its plans to effect a corporate restructuring that will result in a listing of its wholly-owned U.S. subsidiary on The NASDAQ Stock Market with a secondary, inward listing on the Johannesburg Stock Exchange (the “Listing”). MNK is a holding company and all of its operations, assets, employees and customer relationships are held in the U.S. through its U.S. operating subsidiary Montauk Energy.
MNK has received approval from the South African Reserve Bank to pursue the Listing. The Listing is subject to shareholder and further regulatory approval both in South Africa and in the U.S. Upon receipt of such approvals, MNK will begin pursuing steps to effectuate the Listing with a target date of April 2019. The current executive management team of the Company is expected to continue to serve in the same capacities.
Montauk Energy 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 U.S., with 14 plants in 6 states. Marty Ryan, President & CEO of Montauk Energy commented, “We believe that the proposed NASDAQ listing will more strategically align Montauk Energy with our asset and employee base and the U.S. programs and policies we participate in that incentivize the use of clean, low carbon, renewable fuels.”
About Montauk Energy:
Montauk Energy Holdings has over 25 years of experience in the development, operation and management of large-scale renewable energy projects which utilize organically-derived methane (“Biogas”). The Company captures methane, preventing it from being released into the atmosphere, converts it into either renewable electricity or renewable natural gas (“RNG”) and sells the renewable electric and RNG, benefiting from environmental attribute premiums available under federal and state policies that incentivizes their use. For more information, please visit www.montaukenergy.com.