Montauk Renewables, Inc. signs agreement to sell RNG for European Market Use
MONTAUK RENEWABLES, INC.
Incorporated in the United States of America
Company number: 85-3189583
NASDAQ share code: MNTK
JSE share code: MKR
("Montauk Renewables" or the "Company")
Montauk Renewables, Inc. Signs Agreement to Sell RNG
for European Market Use
PITTSBURGH, PENNSYLVANIA—BUSINESS WIRE—Montauk Renewables, Inc. (NASDAQ: MNTK)
announced that it has signed an agreement to sell a portion of its Renewable Natural Gas (“RNG”)
production as a feedstock to make fuel for the European market.
Beginning July 2021, the Company will sell approximately 900,000 MMBtu annually of is production,
currently monetized under an expiring domestic floor-price agreement, to Iogen RC Fuels, LP (“Iogen”)
under a new 4.5 year fixed-price agreement to make vehicle fuel to serve the European market.
Montauk’s ability to enter into this Agreement was due to being selected through an October 2020 RFP
award for a portion of its RNG production based on then current pricing of RNG and attribute model
trends at the time of bid. The award was contingent on registration of proposed production facilities
under the International Sustainability & Carbon Certification (“ISCC”), an international certification
system covering a multitude of bio-based feedstocks and renewables catering to energy, food, feed, and
chemical sectors. Montauk earlier announced successful registration of three of its RNG production
facilities who’s production may be now used to meet mandatory targets for the use of renewable energy
in transport under the European Union Renewable Energy Directive.
This long-term agreement monetizes approximately a quarter of the total Renewable Identification
Numbers (RINs) we currently produce to further diversify monetization strategy beyond domestic
attribute markets such as the Renewable Fuel Standard (“RFS”) while ensuring the continuation of the
remainder of Montauk’s existing fixed-price portfolio and emphasizes our commitment to the
environmentally sustainable production and utilization of our renewable natural gas.
About Montauk Renewables, Inc.
Montauk Renewables, Inc. (NASDAQ: MNTK) (“Company”) is a renewable energy company specializing
in the recovery and processing of biogas from non-fossil fuel sources such as dairy and landfills for
beneficial use as a replacement to fossil fuels. The Company develops, owns, and operates RNG projects,
using proven technologies that supply renewable fuel into the transportation and electrical power
sectors. With over 30 years’ experience, the Company is one of the largest producers of RNG in the
United States. The Company has an operating portfolio of 12 RNG and three renewable electricity
projects that span six states. For more information visit https://ir.montaukrenewables.com
10 May 2021
Pittsburgh, PA USA
Investec Bank Limited
Date: 10-05-2021 07:05:00
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