Montauk Renewables explores options including sale – Bloomberg


Montauk Renewables (NASDAQ:MNTK) +10.1% in Wednesday’s trading following a Bloomberg report that the company is exploring options including a potential sale, although no final decision has been made.

Montauk (MNTK), which produces energy from methane collected at landfills, maintains a portfolio of ~15 operating projects producing natural gas and electricity in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina and Texas.

The company’s biggest shareholder is South African businessman John Copelyn with a ~40% stake, according to Bloomberg data.

Montauk’s (MNTK) potential move comes as major oil companies are on the hunt for alternative energy companies; earlier this year, Chevron agreed to buy green diesel producer Renewable Energy Group for $3.1B.