MNTK - Montauk Renewables to sell RNG for European market use

Montauk Renewables (MNTK) trades 2% higher after-hours on signing an agreement to sell a portion of its Renewable Natural Gas ((RNG)) production as a feedstock to make fuel for the European market.Starting July 2021, the company will sell ~900K MMBtu annually of is production, currently monetized under an expiring domestic floor-price agreement, to Iogen RC Fuels under a new 4.5 year fixed-price agreement to make vehicle fuel to serve the European market.This long-term agreement monetizes approx. a quarter of the total Renewable Identification Numbers that it currently produces to further diversify monetization strategy beyond domestic attribute markets.

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Montauk Renewables to sell RNG for European market use