Bioenergy DevCo secures US$106 million to grow North American AD market
In the United States (US), Bioenergy Development Company (Bioenergy DevCo), a global developer of anaerobic digestion (AD) facilities has recently announced that it has received its first institutional investment of US$106 million from Newlight Partners LP, a private investment firm. The funds will be used to expand Bioenergy DevCo's operational footprint in North America to develop AD facilities for renewable natural gas (RNG).
Bioenergy Development Company (Bioenergy DevCo) is a leader in the finance, design, construction, engineering, and operation of anaerobic digestion facilities. Through its wholly-owned subsidiary BTS Biogas, it can insure and guarantee facility performance of its more than 200 facilities worldwide.
By combining finance, design, construction, operation, and management of anaerobic digestion (AD) facilities, it offers cities and companies a natural process to reduce emissions and waste while creating renewable natural gas (RNG).
Expand operational footprint
According to a statement, the company intends to use this substantial new growth capital to expand its operational footprint in North America, working with municipalities and corporations to develop AD facilities that naturally transform organic waste into renewable natural gas and an organic soil amendment, reducing landfill waste and carbon emissions.
The support from Newlight Partners, allows Bioenergy DevCo to offer a full turnkey solution to cities and corporations challenged by incineration, already crowded landfills and the cost of disposing of organic waste. In working with Newlight, we address the strong and increasing demand for our anaerobic digestion technology, which is proven to naturally transform organic waste into clean, renewable natural gas, in a way that meets the unique needs of municipalities and companies around the country, said Shawn Kreloff, founder and CEO of Bioenergy DevCo.
Anaerobic digestion technology diverts organic wastes from landfills and incinerators, by producing biogas. By lessening the impact of greenhouse gasses (GHG) and sequestering carbon into the soil to remove it from the atmosphere, AD also plays an important role in stormwater management and soil health.
The Bioenergy DevCo team has delivered proven results at existing facilities and brings with them a bold vision for the future of managing organic waste while producing clean energy. We are proud to help them build this business. As more cities and corporations look to achieve zero-waste, renewable energy and carbon reduction goals, Bioenergy DevCo’s technology realizes the promise of delivering economically smart and environmentally friendly organic recycling-to-energy solutions said Mark Longstreth, Managing Director of Newlight Partners.
AD a climate-smart technology pathway
According to the company, AD is a time-tested technology that offers a significant advancement in how waste is handled and how municipalities achieve their zero-waste goals. Upgrading the biogas produced in the AD process into grid quality RNG – also called biomethane –and injecting it into the gas grid means the product is easily incorporated into existing distribution infrastructure by utilities and other gas users.
Cities and companies across the globe are faced with the challenge of disposing of ever-increasing organic waste, the cost of building new landfills, and reducing pollution caused by incinerators to meet stricter climate goals, all under tighter budgets. The use of anaerobic digestion is the smart way to solve these challenges because it is good for the environment and is also good for business, said Steve Lefkowitz, Managing Partner of Sagewind Capital and Founding Partner of Bioenergy DevCo.