Fortistar Announces Opal Fuels, a Merger of Its Leading Renewable Natural Gas Production and Renewable Transportation Fuel Distribution Portfolio Companies
Today, Fortistar LLC, a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges, announced that two of its portfolio companies, Fortistar Methane Group (FMG), one of the fastest-growing developers of renewable natural gas (RNG) facilities and one of the largest independently owned landfill-gas-to-energy companies in the U.S., and TruStar Energy, a market leader in RNG fuel supply for the transportation sector, are merging under Opal Fuels LLC to form a new, fully-integrated renewable fuels supply company for North America.
“In the nearly 30 years since founding Fortistar, I have never been more excited about the opportunities ahead,” said Mark Comora, president of Fortistar LLC. “Amid wildfires, heat waves, hurricanes and other extreme weather that punctuated a tumultuous 2020, the world is now more determined than ever to address climate change. Opal will lead the effort to decarbonize America’s transportation industry, which generates the largest share of annual greenhouse gas emissions, by supplying clean, sustainable energy fueled by renewable natural gas.”