MONTREAL, April 15, 2025 (GLOBE NEWSWIRE) -- Boralex inc. (“Boralex” or the “Company”) (TSX: BLX) announces that the release of the 2025 first quarter results will take place on Wednesday, May 14, 2025, at 9:30 a.m. Financial analysts and investors are invited to attend a conference call during which the financial results will be presented. Date and time Wednesday, May 14, 2025, at 9:30 a.m. ET To attend the conference Webcast link: https://edge.media-server.com/mmc/p/3nwdfvm2To attend the event by phone: C ...

Core Viewpoint - Montauk Renewables, Inc. has initiated a Renewable Natural Gas (RNG) landfill gas project in Tulsa, Oklahoma, marking a significant step in its growth strategy and partnership with American Environmental Landfill, Inc. [1][2][3] Project Details - The project involves an extension of the existing gas rights and lease agreement with AEL, with a new RNG facility designed to have a production capacity of approximately 1,500 MMBtu per day [2][3]. - The capital investment for the project is expected to range between $25 million to $35 million, with a targeted commissioning date in the first quarter of 2027 [3]. Company Background - Montauk Renewables specializes in the management, recovery, and conversion of biogas into RNG, capturing methane to prevent atmospheric release [4]. - The company has over 30 years of experience in developing and managing landfill methane-fueled renewable energy projects across multiple states in the U.S. [4].

Core Viewpoint - Montauk Renewables, Inc. reported flat total revenues for 2024 compared to 2023, with significant challenges in RIN sales impacting profitability despite an increase in RNG production volumes [1][3][4]. Financial Performance - Total revenues for 2024 were $175.7 million, unchanged from $174.9 million in 2023 [3][4]. - Net income decreased by 34.9% to $9.7 million in 2024 from $14.9 million in 2023 [4][19]. - Average realized RIN price increased by 21.0% to $3.28 in 2024 from $2.71 in 2023 [3][4]. - Operating income fell by 31.3% to $16.1 million in 2024 compared to $23.6 million in 2023 [3][19]. - Non-GAAP Adjusted EBITDA decreased by 8.3% to $42.6 million in 2024 from $46.5 million in 2023 [4][25]. Operational Highlights - RNG production increased by 1.6% to approximately 5.6 million MMBtu in 2024 compared to 5.5 million MMBtu in 2023 [4][5]. - RINs sold decreased by 18.5% to 36.6 million in 2024, down from 45.1 million in 2023 [4][5]. - The company had 6.8 million unsold RINs at the end of 2024, an increase of 6.7 million from the previous year [4][5]. Development Projects - Montauk Ag Renewables development in North Carolina received approval for its New Renewable Energy Facility [2]. - The company has long-term agreements with farms to access waste from at least 200,000 hog spaces to support processing needs [2]. - A project to convert the existing Tulsa Renewable Electric Generation facility to an RNG facility is anticipated to require a capital investment of $25.0 million to $35.0 million, with a targeted commissioning date in 2027 [2]. Future Outlook - RNG revenues for 2025 are expected to range between $150 million and $170 million, with production volumes anticipated between 5.8 million and 6.0 million MMBtu [10]. - Renewable Electricity revenues are projected to be between $17.0 million and $18.0 million, with production volumes expected between 178,000 and 186,000 MWh [10].