The Conversation (0)
Montauk Renewables, Inc. (NASDAQ: MNTK) ("Montauk" or the "Company") and its subsidiary, Montauk Renewables Ag, LLC, announce that Sampson County leaders joined Montauk's Chief Executive Officer, Sean McClain, and members of its Board of Directors to celebrate the official opening of the Company's Turkey, NC facility. The project represents a $200 million capital investment and commitment to rural North Carolina."As of the end of August, we have entered into long-term agreements with over 80 separate farming locations, providing us access to more than 415,000 of the hog spaces we are targeting for our first phase of development. Farmers are the backbone of the North Carolina economy, and we are thankful to partner with them and Sampson County," stated Sean McClain, Montauk Renewables CEO.State and local officials worked with the Company to transform the former Bay Valley Foods Distribution Center into a major investment providing excellent jobs and expanding the tax base in Sampson County. The Company has developed technology that allows them to transform swine waste into electricity.Senator Brent Jackson, a Sampson County farmer and leader on agricultural issues in the General Assembly, offered, "I am grateful that agriculture and agribusiness continue to invest and grow in North Carolina. Montauk's capital investment is great news for Sampson County. This is not only good news for the pork producers, but the biochar produced here will also improve nutrient and water retention, supporting healthier soil and stronger crop yields."Senator Jackson serves as Chairman of the Appropriations Base Budget Committee and Chairman of the Agriculture, Energy and Environment Committee in the NC Senate.Agriculture has an annual economic impact of more than $100 billion for the North Carolina economy, according to the N.C. Department of Agriculture. It is the state's top industry, supporting roughly one in five jobs and spanning more than 42,000 farms across 8 million acres.
About Montauk Renewables, Inc.
Montauk Renewables, Inc. (NASDAQ: MNTK) is a renewable energy company specializing in the management, recovery and conversion of biogas into renewable natural gas (RNG). The Company captures methane, preventing it from being released into the atmosphere, and converts it into either RNG or electrical power for the electrical grid ("Renewable Electricity"). The Company, headquartered in Pittsburgh, Pennsylvania, has more than 30 years of experience in the development, operation and management of landfill methane-fueled renewable energy projects. The Company has operations at 14 projects and ongoing development projects located in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina, South Carolina, and Texas. The Company sells RNG and Renewable Electricity, taking advantage of Environmental Attribute premiums available under federal and state policies that incentivize their use. For more information, visit https://ir.montaukrenewables.com.
Company Contact:
John Ciroli
Chief Legal Officer (CLO) & Secretary
investors@montaukrenewables.com
(412) 747-8700
Investor Relations Contact:
Georg Venturatos
Gateway Group
georg@gateway-grp.com
(949) 574-3860
Public Relations Contact:
N.C. Capitol Strategies
info@ncapstrat.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cdb1a434-9e70-4764-b821-62d59fb491f4
