Fortistar Merges Two Units to Form Opal Fuels

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Private equity firm Fortistar announced two of its portfolio companies, Fortistar Methane Group, a developer of renewable natural gas, and TruStar Energy, supplier of RNG transportation fuel, are merging under Opal Fuels to form a fully integrated renewable fuels supply company for North America.

Adam Comora, TruStar Energy CEO since 2013, and Jonathan Maurer, Fortistar managing director, will lead the company as co-CEOs.

“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,” Fortistar President Mark Comora said in a release.

We are excited to announce TruStar Energy and Fortistar Methane Group are merging under Opal Fuels LLC, a new, fully integrated #renewable #fuels supply company for North America. #RNG https://t.co/BMdr3tvfm6 — TruStar Energy (@opalfuels) April 22, 2021

The merger creates a complete, vertically integrated business that handles every step from project development and construction to producing, marketing and dispensing renewable fuel and the associated renewable credits, according to White Plains, N.Y.-based Fortistar.

During 2020, TruStar completed 42 natural gas fueling station projects across the country, bringing its total completed projects to 380.

Fortistar Methane Group is in the middle of a $500 million expansion program to complete construction on the fifth of 12 RNG projects that together will provide over 100 million gas-gallon equivalents annually of RNG. — Transport Topics

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