In the United States (US), waste solutions provider Brightmark LLC and Chevron U.S.A. Inc., a subsidiary of Chevron Corporation, one of the world’s largest integrated energy companies have announced the second expansion of their previously announced joint venture, Brightmark RNG Holdings LLC, to own projects across the country to produce and market dairy farm derived biomethane, aka renewable natural gas (RNG).
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Brightmark RNG Holdings LLC’s subsidiaries currently own RNG projects in New York (NY), Michigan (MI), Florida (FL), South Dakota (SD), and Arizona (AZ). Additional equity investments by each company in the joint venture will fund the construction of infrastructure and commercial operation of 10 dairy biomethane projects, including new sites in Iowa (IA) and Wisconsin (WI), and additional sites in Michigan and South Dakota.
Brightmark’s expanded partnership with Chevron is another positive step forward in the decarbonization of the farming industry. Our carbon-negative projects are successfully reimagining waste and delivering significant environmental benefits while improving economics for our dairy farm partners. We look forward to executing on these new RNG projects with Chevron and partnering with dairy farmers to expand our RNG footprint across the country, said Bob Powell, Founder and CEO of Brightmark.
Chevron will purchase RNG produced from these projects and market the volumes for use in vehicles operating on compressed natural gas (CNG).
This latest expansion with Brightmark advances our strategy of higher returns and lower carbon. Opportunities like these not only reaffirm our commitment to investing in ways that are good for the environment, our consumers, and our stockholders, they also bolster our previously announced objective to increase RNG volumes tenfold by 2025 over 2020 volumes, said Andy Walz, President of Chevron’s Americas Fuels & Lubricants.