OPAL Fuels names Kazi Hasan as new CFO

WHITE PLAINS, N.Y. - OPAL Fuels Inc. (NASDAQ:OPAL), a prominent player in renewable fuel production and distribution, has appointed Kazi Hasan as Chief Financial Officer, effective today. The seasoned executive with over a quarter-century of experience in the energy sector succeeds Scott Contino, who has been the interim CFO since October 2023.

Hasan's extensive background includes executive roles at large energy infrastructure companies, where he was responsible for corporate development strategy, financial operations, capital raising, and M&A. His expertise in structuring strategic partnerships has led to raising over $30 billion in equity and debt financing. At OPAL Fuels, Hasan is expected to leverage his experience to enhance the company's growth and value creation, particularly as demand for lower carbon energy solutions grows.

Adam Comora, co-CEO of OPAL Fuels, expressed confidence in Hasan's ability to drive financial and operational excellence, citing his deep expertise in finance, strategy, and operations within the renewable energy and infrastructure space. Comora also acknowledged the contributions of Scott Contino in leading the finance organization during a period of building intrinsic value for the company.

Hasan, expressing his honor in joining OPAL Fuels, highlighted the company's market leadership in developing renewable fuel production and its vertical integration with distribution across the United States. He emphasized OPAL Fuels' role in delivering cost-effective renewable energy solutions that support decarbonization goals and enhance financial performance.

Before his appointment at OPAL Fuels, Hasan served as Senior Advisor at Fluence Energy (NASDAQ:FLNC), and held CFO positions at Puget Sound Energy and Cleco. His past experience includes more than two decades at AES (NYSE:AES) in various senior executive roles, where he navigated complex financial landscapes. During his tenure, AES grew into a significant utility player, though recent InvestingPro data shows the company faces challenges with a debt-to-equity ratio of 9.16x and a six-month stock decline of 34%. For detailed analysis of AES and over 1,400 other stocks, investors can access comprehensive Pro Research Reports through InvestingPro.

A Form 8-K has been filed with the Securities and Exchange Commission in conjunction with this announcement. This press release statement is the source of information for this article.

In other recent news, AES Corp's third-quarter earnings per share surpassed expectations at $0.71, exceeding the analyst consensus of $0.59. However, the company's revenue of $3.29 billion fell short of the projected $3.46 billion. HSBC initiated coverage on AES Corp with a Buy rating, citing the company's potential in greenfield renewable projects. Conversely, BofA Securities initiated an Underperform rating due to potential risks in the company's renewable energy expansion plans.

Additionally, AES Corp secured $500 million through a junior subordinated notes offering, a move facilitated by major financial institutions, including J.P. Morgan Securities LLC and Wells Fargo (NYSE:WFC) Securities, LLC. Susquehanna revised their stock price target for AES, reducing it from $24 to $21, while maintaining a positive view on the stock. These are among the recent developments for AES Corp.

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