OPAL Fuels Inc.

Good morning and welcome to the Opal Fuels first quarter 2026 earnings call and webcast. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. As a reminder, this event is being recorded. I would now like to turn the call over to Todd Firestone, Vice President of Investor Relations, to begin. Please go ahead. Thank you, and good morning, everyone.

Welcome to the Opal Fuels first quarter 2026 earnings conference call. With me today are co-CEOs Adam Kimora and Jonathan Moore, as well as Qazi Hassan, Opal's Chief Financial Officer. Opal Fuels released financial and operating results for the first quarter of 2026 this morning, and those results are available on the investor relations section of our website at opalfuels.com. The presentation and access to the webcast for this call are also available on our website. After completion of today's call, a replay will be available for 90 days. Before we begin, I'd like to remind you that our remarks, including answers to your questions, contain forward-looking statements, which involve risks, uncertainties, and assumptions. Forward-looking statements are not a guarantee of performance, and actual results could differ materially from what is contained in such statements. Several factors that could cause or contribute to such differences are described on slides two and three of our presentation. These forward-looking statements reflect our views as of the date of this call And Opal Fuels does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date of this call. Additionally, this call will contain discussion of certain non-GAAP measures. A definition of non-GAAP measures used in a reconciliation of these measures to the GAAP measure is included in the appendix of the release and presentation. Adam will begin today's call by providing an overview of the quarter's results and recent highlights. John will give a commercial business development update, after which Tasia will review financial results. We'll then open the call for questions. And now I'll turn the call over to Adam Camara, co-CEO of Opal Fuels.

Thank you, Todd, and good morning, everyone, and thank you for participating in Opal Fuels' first quarter 2026 earnings call. Despite a challenging operating environment in the seasonally soft first quarter, we remain on track to meet our full-year guidance. Production is improving in line with our expectations, and we are encouraged by the firming of environmental credit pricing. In addition to the performance and growth in our operating platform, we are energized by the engagement we are seeing from our business development activities for new CNG RNG fleet deployments in heavy-duty trucking. A variety of factors are leading to the logjam finally breaking for new CNG and RNG fleet deployments. High and volatile diesel pricing, regulatory clarity regarding combustion engines, and the successful tests of the Cummins X15N are moving fleets into decision-making mode for what we believe is a great product. CNG is a winning economic proposition for fleets. It supports their operations with minimal change and disruption, and the fact we deliver low carbon intensity RNG and its ancillary benefits make it that much more compelling. We spent much of last week at ACT Expo, our industry's flagship conference, and the excitement around RNG and CNG is real. In addition to the financial benefits, fleets also recognize the value of the sustainability benefits, whether it be achieving their ESG goals, building their brand equity, or the strategic value to win new business, or more importantly, remaining competitive and not losing business to other fleets that are deploying RNG. Natural gas in North America is abundant and is expected to remain cheaper to oil on an energy equivalency value for the foreseeable future. Many heavy-duty industries in the U.S., such as steel, chemicals, and manufacturing, have already shifted from oil and coal to natural gas to capitalize on this lower cost energy. We believe heavy duty trucking can be the next on that list. Diesel became the dominant fuel choice of heavy duty trucking in the 1970s when the engine technology advanced with better fuel and cost efficiencies versus gasoline. The nine and 12 liter natural gas engine has been in the market for about 10 years and has seen strong adoption in the refuse and transit sectors after proving its cost effectiveness versus diesel. The largest refuse company in the U.S. reports it is closing in on 100% natural gas deployment for their fleet, and we estimate the broader refuse industry is approximately 30% natural gas deployment and growing. Now that the 15 liter natural gas engine has tested well for heavy duty transportation, we anticipate accelerating adoption in this large and untapped market. CNG and RNG currently supply about a billion gallons of the 45 billion gallon diesel market, representing only a 2% market share at present. The industry and Opel Fuels are ready to scale and begin capitalizing on this opportunity. As equipment suppliers and vendors continue to scale, they will take costs out, reducing the upfront premium on the tractors and expanding the market opportunity beyond the heaviest volume trucks. As we are energized by what we are seeing and hearing from our fleet partners, keep in mind, however, that as we mentioned on our March call, this business development activity will not get reflected in our 2026 financial results, as it takes us about 12 months to build a station after signing, and these initial deployments will likely begin at smaller percentages within very large fleets. Before turning it over to John, I would like to close by talking once again about the strength of our vertically integrated model and how we see its benefits on both the upstream side of new project development opportunities and on the downstream side when working with fleets. Our upstream partners like Opal's large and growing dispensing network. On the downstream side, our fleet partners not only appreciate our operational execution and low-cost fuel stations, but also our reliable, tangible, and growing RNG supply. Opal Fuels is well-positioned with a proven track record both on the upstream and the downstream side of our business to be a leader in the production of RNG and capitalize on what we believe is an extraordinary growth opportunity for its use as a transportation fuel in heavy-duty trucking. With that, I'll turn it over to John.