Montauk Renewables to build new renewable natural gas plant in Ohio (NASDAQ:MNTK)

Group of rows of green stacked biofuel drums in storage warehouse

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Montauk Renewables (NASDAQ:MNTK) said on Wednesday it is planning to build a second renewable natural gas processing plant at its Apex landfill gas project in Ohio.

The company said it is targeting a 40% increase in RNG processing capacity with the addition of the new facility, adding up to 2,100 MMBtu/day production capacity and expand the infrastructure for the conversion of LFG to RNG.

The planned project, which is expected to be completed in 2024, is being driven by projections in biogas feedstock availability from the host landfill over the next 12-18 months, Montauk said.

The company expects $25M-$30M in capital spending for the project over the next 12-18 months, starting in Q4 2022.

Montauk Renewables (MNTK) recently reported Q2 GAAP earnings of $0.13/share on revenues of $68M.

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