[Nikolas]

The difference has to do with the project conditions – For example a 110 scfm project with 100ppmv H2S injecting in the grid would have a CapEx closer to $1.5M. A 1,000 scfm with 600ppm H2S and VOCs would be closer to >$8M.

As for electricty vs RNG, the CapEx might be lower to produce electricity but the incentives are not as strong. Renewable electricity can come from other sources (i.e. solar, wind), which lowers the selling price. RNG can be injected in the grid and used as fuel, and has strong incentives, which makes RNG projects more desirable, in my view.