Montauk Renewables, Inc
montaukenergy.comWhat Do They Do?
Produces renewable natural gas and electricity from landfill and agricultural biogas, and sells fuel, power and related renewable credits to refiners, utilities and transportation-fuel counterparties.
10-K for FY2025, filed Mar 11, 2026We are a renewable energy company specializing in the recovery and processing of biogas from landfills and other non-fossil fuel sources to…View ↗
Our current operating projects produce either RNG or Renewable Electricity by processing biogas from landfill sites or agricultural waste…View ↗
The RNG we process is pipeline-quality and can be used for transportation fuel when compressed or liquefied. Virtually all of the RNG we…View ↗
Renewable electricity is generated using gas-fueled engines or turbine-driven electrical generators, which are designed to operate…View ↗
When used as a transportation fuel or to produce electricity, RNG can generate additional revenue streams through the generation and sale…View ↗
How Do They Make Money?
The company earns money from selling gas and electricity as quantities are delivered and from selling environmental credits when delivered; customers typically have 30 days to pay invoices.
10-K for FY2025, filed Mar 11, 2026The Company’s revenues are comprised of renewable energy and related Environmental Attribute sales provided under short, medium and long…View ↗
The Company’s performance obligations related to the sale of renewable energy (i.e. RNG and Renewable Electricity) are generally satisfied…View ↗
The Company’s performance obligations related to the sale of Environmental Attributes are generally satisfied at a point in time and were…View ↗
-
10-K for FY2025, filed Mar 11, 2026
FY2025 revenue by product or service (Revenue from Contract with Customer, Excluding Assessed Tax) ↗
$176.4M
-
10-K for FY2025, filed Mar 11, 2026
$176.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Natural Gas Commodity
Recurring
10-K for FY2025, filed Mar 11, 2026 |
28%
FY2022: 25%
|
Natural Gas Commodity, FY2025
$48.5M Sources
|
Recurring |
|
Natural Gas Environmental Attributes
Sold outright
10-K for FY2025, filed Mar 11, 2026 |
62%
FY2022: 67%
|
Natural Gas Environmental Attributes, FY2025
$110.1M Sources
|
Sold outright |
|
Electric Commodity
Recurring
|
5.9%
FY2022: 4.9%
|
Electric Commodity, FY2025
$10.3M Sources
|
Recurring |
|
Electric Environmental Attributes
Sold outright
|
4.2%
FY2022: 3.3%
|
Electric Environmental Attributes, FY2025
$7.5M Sources
|
Sold outright |
Who Are Their Customers?
RNG and credit customers include landfill and livestock owner-operators, local utilities and refiners. Electricity and renewable certificates are sold to investor-owned and municipal utilities under power agreements, while RINs are sold to multiple off-takers.
10-K for FY2025, filed Mar 11, 2026
10-K for FY2025, filed Mar 11, 2026
Our customers for RNG and RINs typically include large, long-term owner-operators of landfills and livestock farms, local utilities, and…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$86.2M.
10-K for FY2025, filed Mar 11, 2026
$852KView ↗
10-K for FY2025, filed Mar 11, 2026
$1.7MView ↗
10-K for FY2025, filed Mar 11, 2026
−$86.2MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
$226KView ↗
- ▲ Now profitable
- vs −$5.5M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
Growing. Revenue grew 19% in 4 years, from $148.1M in FY2021 to $176.4M in FY2025, about 4% a year.
Who Do They Compete With?
Competes with Clean Energy Fuels, Opal Fuels, U.S. Gain, Brightmark, Gevo, AMP Energy, DTE, Ameresco, British Petroleum, Waste Management, and Republic
10-K for FY2025, filed Mar 11, 2026We are aware of several competitors in the United States that have a similar business model to our own, including Clean Energy Fuels Corp…View ↗
Loading...
