OPAL Fuels Inc. announced that it expects to receive $225 million in funding from NextEra Energy, Inc., Electron Capital Partners, LLC, Gunvor Group Ltd, Adage Capital Management, L.P., Wellington Management Group LLP, ArcLight Clean Transition Corp. II

Opal Fuels LLC announced a private placement of 12,500,000 membership units at a price of $10 per share for proceeds of $125,000,000 and up to $100,000,000 of preferred equity from affiliates of NextEra Energy, Inc. for total gross proceeds of $225,000,000 on December 2, 2021. The transaction will include participation from NextEra Energy, Inc for $25,000,000, Electron Capital Partners, LLC, Gunvor Group Ltd, Adage Capital Management, L.P., and Wellington Management Group LLP and affiliate of ArcLight Clean Transition Corp. II for $25,000,000 for membership units.

The transaction is expected to close in the second quarter of 2022. The transaction has been approved by the board of directors of the company.