Montauk Renewables Q1 Revenue Rises 9% to $46.4m; EBITDA Up 22.8%, Secures $200m Credit Facility
MNTK•Montauk Renewables reported Q1 revenues of $46.4 million, up 9%, and Adjusted EBITDA of $10.8 million, a 22.8% increase, while net income rose to $5,000 from a $0.5 million loss. The company secured a new five-year $200 million credit facility, refinanced existing debt and extended Raeger gas rights through 2031.
1. Q1 Financial Performance
Montauk Renewables reported total revenues of $46.4 million in Q1 2026, up 9% year-over-year, driven by a 25.5% increase in RINs sold. Adjusted EBITDA rose 22.8% to $10.8 million, while net income improved to $5,000 compared to a $0.5 million loss in Q1 2025.
2. Credit Facility and Debt Structure
In March 2026, Montauk entered a five-year credit facility with up to $200 million in senior indebtedness provided by a Hannon Armstrong Capital affiliate. The company used the proceeds to refinance existing debt and retains $45 million available for future borrowing subject to facility terms.
3. Raeger Gas Rights Extension
Montauk negotiated a five-year extension of its biogas feedstock rights at the Raeger facility, securing access through 2031. This extension underpins continued RNG production and stabilizes feedstock supply at one of its core sites.
4. New Project and Regulatory Environment
The Montauk Ag Renewables project in North Carolina was commissioned and is expected to begin RNG production in May 2026, with volumes ramping up as feedstock collections increase. Finalized EPA RFS standards raised 2026 and 2027 cellulosic biofuel volume requirements, supporting higher future RINs revenue.
