Fortistar Methane Group, TruStar Energy merge to form market-leader in renewable natural gas

In New York, the private equity firm Fortistar has merged its portfolio companies Fortistar Methane Group, a developer of renewable natural gas facilities, and TruStar Energy, a market leader in RNG fuel supply into the new Opal Fuels.

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. With this merger, the combined company will maintain one of the largest portfolios of internally-produced RNG to ensure a stable renewable fuels supply for its customers. The combined business offers a natural platform for growth by converting its landfill gas electric projects to RNG facilities and new greenfield development of both animal waste digesters and new landfill projects, which will supply fueling stations including renewable hydrogen as an emerging fuel.

During 2020, TruStar completed 42 natural gas fueling station projects across the country, bringing its total completed projects to 380. TruStar has powered Class 8 fleets since 2009 and maintains a workforce of over 120 employees across the country. FMG 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 (GGE) annually of RNG. Together, the combined company will have a growing network of over 220 employees nationwide. With more than 140 fueling stations nationwide, the merger will make Opal a notable renewable fuels industry leader.

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