Montauk Renewables, which produces and sells renewable natural gas and electricity, filed on Friday with the SEC to raise up to $20 million in an initial public offering.
Montauk Renewables is a renewable energy company specializing in the recovery and processing of environmentally detrimental methane from landfills and other non-fossil fuel sources for beneficial use as a replacement to fossil fuels. The company develops, owns, and operates renewable natural gas (RNG) projects, using proven technologies that supply RNG into the transportation industry and use RNG to produce electrical power for the electrical grid. Montauk operates a portfolio of 12 RNG and three Renewable Electricity projects that span six states in the US.
The Pittsburgh, PA-based company was founded in 1980 and booked $99 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol MNTK. Roth Capital is the sole bookrunner on the deal. No pricing terms were disclosed.
