10-K Filing

OPAL Fuels Inc. CIK: 1842279 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001193125-22-070682`
Period End Date	20211231
Filing Date	20220309
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	d283506d10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 26 Income Statement 7 Cash Flow Statement 29 Stockholders Equity 9

Balance Sheet 26 line items

Line Item	Tag	Value	Unit	Period
Temporary equity shares outstanding	`TemporaryEquitySharesOutstanding`	31.12M	shares	Point-in-time
Temporary equity redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.00	USD	Point-in-time
Cash	`Cash`	$811.53K	USD	Point-in-time
Preferred stock, par or stated value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$701.66K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.51M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$159.95K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$311.18M	USD	Point-in-time
Total Assets	`Assets`	$312.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.76K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$94.50K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$113.26K	USD	Point-in-time
Deferred legal fees	`DeferredLegalFees`	$3.97M	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCommissionsNoncurrent`	$10.89M	USD	Point-in-time
Derivative warrant liabilities	`DerivativeLiabilitiesNoncurrent`	$25.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$40.77M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A ordinary shares subject to possible redemption; 31,116,305 shares at redemption value of $10.00	`TemporaryEquityCarryingAmountAttributableToParent`	$311.16M	USD	Point-in-time
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-39.08M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-39.08M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	-	USD	Point-in-time
Total Liabilities and Shareholders' Deficit	`LiabilitiesAndStockholdersEquity`	$312.85M	USD	Point-in-time

Income Statement 7 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.94M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.94M	USD	Annual
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$10.80M	USD	Annual
Financing costs - warrant liabilities	`FinancingCostsWarrantLiabilities`	$462.62K	USD	Annual
Net gain on investments held in Trust Account	`NetGainOnInvestmentsHeldInTrustAccount`	$12.42K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-11.25M	USD	Annual
Net loss	`NetIncomeLoss`	$-16.19M	USD	Annual

Cash Flow Statement 29 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-16.19M	USD	Annual
General and administrative expenses paid by related party in exchange for issuance of Class B ordinary shares	`GeneralAndAdministrativeExpensesPaidByRelatedPartyInExchangeOfClassBOrdinaryShares`	$25.00K	USD	Annual
General and administrative expenses paid by related party under promissory note	`GeneralAndAdministrativeExpensesPaidByRelatedPartyUnderPromissoryNote`	$26.80K	USD	Annual
Change in fair value of derivative warrant liabilities	`FairValueAdjustmentOfWarrants`	$10.80M	USD	Annual
Financing costs - warrant liabilities	`FinancingCostsWarrantLiabilities`	$462.62K	USD	Annual
Net gain on investments held in Trust Account	`NetGainOnInvestmentsHeldInTrustAccount`	$12.42K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$861.62K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-181.24K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$24.50K	USD	Annual
Deferred legal fees	`IncreaseDecreaseInDeferredLegalFees`	$-3.97M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.94M	USD	Annual
Cash deposited in Trust Account	`PaymentsToAcquireRestrictedInvestments`	$311.16M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-311.16M	USD	Annual
Proceeds from note payable to related party	`ProceedsFromNotesPayable`	$100.00	USD	Annual
Repayment of note payable to related party	`RepaymentsOfNotesPayable`	$171.74K	USD	Annual
Proceeds received from initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$311.16M	USD	Annual
Proceeds received from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$9.22M	USD	Annual
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$6.30M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$313.92M	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$811.53K	USD	Annual
Cash - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$811.53K	USD	Point-in-time
Cash - ending of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - ending of the period	`CashAndCashEquivalentsAtCarryingValue`	$811.53K	USD	Point-in-time
Offering costs included in accounts payable	`OfferingCostsIncludedInAccountsPayable`	$200.00K	USD	Annual
Offering costs included in accrued expenses	`OfferingCostsIncludedInAccruedExpenses`	$70.00K	USD	Annual
Offering costs paid by related party under promissory note	`OfferingCostsPaidByRelatedPartyUnderPromissoryNote`	$144.84K	USD	Annual
Deferred underwriting commissions	`DeferredUnderwritingCommissions`	$10.89M	USD	Annual
Forfeiture of Class B ordinary shares from Sponsor	`ForfeitureOfClassBOrdinarySharesFromSponsor`	$13.00	USD	Annual

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$-39.08M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	-	USD	Point-in-time
Issuance of Class B ordinary shares to Sponsor	`StockIssuedDuringPeriodValueIssuedForServices`	$25.00K	USD	Annual
Issuance of Class B ordinary shares to Sponsor (Shares)	`StockIssuedDuringPeriodSharesIssuedForServices`	25,000.00	shares	Annual
Accretion on Class A ordinary shares subject to possible redemption	`TemporaryEquityAccretionToRedemptionValue`	$23.09M	USD	Annual
Sale of units in initial public offering, less fair value of public warrants	`StockIssuedDuringPeriodValueNewIssues`	$175.73K	USD	Annual
Net loss	`NetIncomeLoss`	$-16.19M	USD	Annual
Ending Balance	`StockholdersEquity`	$-39.08M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	-	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.