How OPAL Fuels’ New Preferred Stock Facility Supports Its Next Growth Phase

OPAL Fuels Inc. (NASDAQ:OPAL) is one of the best renewable energy penny stocks to buy.

On March 9, 2026, OPAL Fuels announced that it had closed a new $180 million preferred stock facility with an affiliate of its majority shareholder, Fortistar. At the closing, the company issued $120 million under the facility, with the remaining $60 million available for future drawdowns.

The company said about $100 million of the initial funding was used to fully redeem the Series A Preferred Units previously owned by Mendocino Capital, LLC, a wholly owned subsidiary of NextEra Energy, Inc. The remaining funds may be used for general corporate purposes, including working capital, capital expenditures, and project-level financing.

Management said the financing would support OPAL Fuels’ next stage of growth by helping fund the development and construction of new renewable natural gas projects and fueling infrastructure for heavy-duty transportation. In the related 8-K, OPAL Fuels said the new Series A Preferred Units carry preferred quarterly distributions of 12% per annum, compounded quarterly.

OPAL Fuels Inc. (NASDAQ:OPAL) is a producer and distributor of renewable natural gas for heavy-duty trucking and other transportation markets. The company also develops and operates RNG production projects and fueling infrastructure across the United States.

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