Australia-headed Quinbrook Infrastructure Partners Pty Ltd (Quinbrook), a specialist investment manager focused exclusively on the infrastructure needed to drive the energy transition, has announced its acquisition of US-based renewable fuels and biogas specialist PurposeEnergy Inc.
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Over the last 15 years, PurposeEnergy has developed, owned, and operated multiple projects that convert organic waste streams to biogas for use in industrial processes, conversion to renewable electricity, or upgraded refinement to biomethane (aka renewable natural gas – RNG).
Quinbrook is really excited to be moving into such a high-growth and important sector that desperately needs more sustainable solutions that convert organic food waste into renewable power and biogas. The demand for renewable fuels is exploding and in PurposeEnergy we have found a highly capable technical and operational team that has been in business for over a decade, delivering impactful solutions for customers and the environment. Now is the right time for us to scale this business to realize its full potential. PurposeEnergy is a great example of the Quinbrook model for value-add investing, said David Scaysbrook, Managing Partner and Co-Founder of Quinbrook.
Design, build, own, and operate
Headquartered in New Hampshire (NH), PurposeEnergy utilizes proven technologies including proprietary methods developed and patented by the company to convert organic waste streams to high-value biogas and RNG that is sold to customers under long-term contracts.
The company has established an impressive track record of developing, designing, constructing, and operating projects that have delivered high-impact solutions for the food and beverage industry.
In many cases, this has enabled customers to materially increase production and improve the economics of their core business.
PurposeEnergy has developed, designed, and built seven projects that support the ESG, business, and decarbonization objectives of some of the largest food and beverage companies in the world.
The company currently has one project in construction, two starting construction later this year, and additional growth projected from existing and new customers.
While PurposeEnergy has largely served the food and beverage industries, the Company also works with dairies and depacking operations to convert organic waste streams to energy.
For more than a decade, PurposeEnergy has demonstrated technical and operational excellence in treating process wastewater and organic residuals for industrial food and beverage producers. The investment by Quinbrook will greatly expand our ability to identify, finance, build and operate new projects, helping our customers achieve their ESG goals while conserving capital to invest in their core businesses, commented Eric Fitch, Founder and CEO of PurposeEnergy.
Support rapid scale-up
Quinbrook’s acquisition of the Company will deliver the capital resources, enhanced commitment to sustainability and ESG-driven impact, and additional strategic relationships to support rapid scale-up to meet the growing demand for renewable fuels.
The food industry is an attractive sector for investment which is set for enormous growth given more stringent environmental regulations, the critical need for more sustainable solutions for growing food waste, and the acute demand for renewable fuels across the board.
The construction of the Middlebury Resource Recovery Center (MRRC) adjacent to Agri-Mark/Cabot’s flagship cheddar cheese and whey protein plant represents a critical step toward achieving our operational and sustainability goals. PurposeEnergy’s project allows us to send byproducts of cheesemaking to the digester via pipeline, creating renewable energy. This direct diversion eliminates the trucking of over 250 loads per month, reducing greenhouse gas (GHG) emissions by more than 2 000 tons a year. Agri-Mark’s family farm owners are committed to protecting the local environment and maintaining a resilient dairy industry for future generations. By repurposing process organics into renewable electricity for Vermont residents, Cabot is providing award-winning dairy products while supporting commitments to our local communities, said Jed Davis, VP of Strategic Engagement and Sustainability at Agri-Mark Family Dairy Farm commenting on an example of how PurposeEnergy delivers solutions for its customer partners.
