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Related Party Transactions
 3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
Related Party Transactions

Note 19—Related Party Transactions

TotalEnergies S.E.

In the three months ended March 31, 2025 and 2026, no revenue from TotalEnergies was recognized. Outstanding receivables due from TotalEnergies were immaterial as of December 31, 2025 and March 31, 2026.

In the three months ended March 31, 2025 and 2026, the Company paid TotalEnergies $0.2 million and $0.2 million, respectively, for expenses incurred in the ordinary course of business and for settlements on commodity swap contracts (Note 6).  Outstanding payables due to TotalEnergies were immaterial as of December 31, 2025 and March 31, 2026.

SAFE S.p.A.

Cash receipts from SAFE S.p.A. were immaterial in the three months ended March 31, 2025 and 2026. Outstanding receivables due from SAFE S.p.A. were immaterial as of December 31, 2025 and March 31, 2026.  

In the three months ended March 31, 2025 and 2026, the Company paid SAFE S.p.A. $0.4 million and $0.8 million, respectively, for parts and equipment in the ordinary course of business. As of December 31, 2025 and March 31, 2026, the Company had payables due to SAFE S.p.A. of $0.5 million and $1.4 million, respectively.

TotalEnergies Joint Venture(s) and bpJV

Pursuant to the contractual agreements of the TotalEnergies joint venture(s) and bpJV, the Company manages day-to-day operations of RNG projects in the joint ventures in exchange for an O&M fee and management fee. In the three months ended March 31, 2025 and 2026, the Company recognized total management and O&M fee revenue of $0.8 million and $1.0 million, respectively. As of December 31, 2025 and March 31, 2026, the Company had management and O&M fee receivables due from the joint ventures with TotalEnergies and bp of $1.7 million and $2.7 million, respectively.

No cash payment was made on behalf of the joint ventures for expenses incurred in the ordinary course of business in the three months ended March 31, 2025 or 2026. As of December 31, 2025 and March 31, 2026, outstanding receivables due from the joint ventures with TotalEnergies and bp were $0.3 million and $0.2 million, respectively, representing outstanding unreimbursed expenses that the Company paid on behalf of the joint ventures.

In the three months ended March 31, 2025 and 2026, the Company received $0.6 million and $0.1 million, respectively, from the joint ventures with TotalEnergies and bp for management and O&M fees and reimbursement of expenses incurred in the ordinary course of business. In the three months ended March 31, 2025 and 2026, the Company paid $1.0 million and $0.9 million, respectively, to the joint ventures with TotalEnergies and bp, relating to environmental credits pursuant to the contractual agreements of the TotalEnergies joint venture and bpJV. As of December 31, 2025 and March 31, 2026, the Company had payables due to the joint ventures with TotalEnergies and bp of $0.5 million and $0.5 million, respectively, relating to sharing of environmental credits pursuant to the contractual agreements of the TotalEnergies joint venture(s) and bpJV.

On June 30, 2025, the Company entered into a Guaranty Agreement in favor of the buyer of ITC credits sold by the bpJV on June 30, 2025 (Note 7). Pursuant to the Guaranty Agreement, the maximum potential future exposure to the Company is $38.3 million in the event of a tax credit loss incurred by the buyer. The Guaranty Agreement is expected to end in January 2030. The Company received a fee of $0.7 million from the bpJV in connection with Guaranty Agreement.

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Rimere

In the three months ended March 31, 2025 the Company provided $1.5 million to Rimere, LLC (“Rimere”) in connection with its loan commitments.

In the three months ended March 31, 2025 the Company recognized management fee revenue from Rimere of $0.2 million.

In December 2025, the loan commitments were terminated in connection with the transfer of ownership of the Company’s equity method investment. As such there were no related party transactions with Rimere in the three-months ended March 31, 2026. There were no balances with Rimere on December 31, 2025 or March 31, 2026.