Archaea Energy Renewable Natural Gas Platform Announced (M&A)
Carnegie, Pennsylvania- based Rice Acquisition Corp., a special purpose acquisition company focused on the energy transition sector, reports an agreement to combine Novi, Michigan-based Aria Energy LLC and Belle Vernon, Penna.-based biogas developer Archaea to create Archaea Energy, a renewable natural gas (RNG) platform. The transaction is expected to close in Q3 this year.
New company highlights include:
The business combination is expected to create the industry-leading platform in the U.S. to capture and convert waste emissions from landfills and anaerobic digesters into low-carbon RNG, electricity, and green hydrogen.
Aria, a portfolio company of funds managed by the Infrastructure and Power strategy of Ares Management Corp is being acquired for $680 million and brings a comprehensive portfolio of operational LFG assets, best-in-class operating experience, and a deep inventory of greenfield LFG-to-RNG projects and electric-to-RNG conversion opportunities.
Archaea LLC is being acquired for $347 million and brings leading RNG technology professionals, a deep inventory of LFG-to-RNG projects -- including the world's largest RNG plant currently under construction (Project Assai) -- an innovative commercial strategy, groundbreaking low-cost carbon sequestration, and negative-carbon LFG-to-green hydrogen development projects currently in the design stage.
Pro forma for the transaction, the combined Company will have over $350 million of cash on the balance sheet, providing ample liquidity to fund its pipeline of development projects and bridging the combined Company to free cash flow generation starting in 2023.
The combined Company will be headquartered in Cannonsburg, Penna. led by a majority-independent board consisting of executives Daniel J. Rice, IV, Kyle Derham, Kate Jackson, Joe Malchow, and Jim Torgerson of RAC; Nicholas Stork, CEO of Archaea; and Scott Parkes of Aria.
(Source: Rice Acquisition Corp., PR, 7 Apr., 2021) Contact: Archea Energy, Nick Stork, CEO, email@example.com, www.archaeaenergy.com;
Aria Energy, Richard DiGia, CEO, (248) 380-3920, www.ariaenergy.com: Rice Acquisition Corp., www.ricepac.com
More Low-Carbon Energy News RNG, Aria Energy, Archaea Energy, ,
BP Announces California "RNG Moovers" Project (Ind. Report)
BP, Aria Energy
Oil giant BP and Novi, Michigan-based Aria Energy are touting their "RNG Moovers" anaerobic digestion project to capture methane from farm waste at three Central Valley California dairy farms and process it into renewable natural gas (RNG), which will then be supplied as fuel for the U.S. transportation sector.
For the "RNG Moovers" project, Aria Energy will provide expertise in capturing and refining the biogas to remove contaminants and increase its heat content, resulting in RNG. The anaerobic digesters will be supplied by Aligned Digesters and BP will transport the RNG through a 20-year offtake agreement executed by its low carbon trading business. (Source: BP, PR, 22 Mar., 2021)
Contact: BP PLC, Sean Reavis, Senior VP, Low Carbon and Trading, www.bp.com;
Aria Energy, Richard DiGia, Pres., CEO, (248) 380-3920, www.ariaenergy.com
More Low-Carbon Energy News BP, Aria Energy, RNG, Anaerobic Digester, Biogas, Methane,
Memphis Landfill RNG Production Underway (Ind. Report)
Republic Services,Aria Energy
Following up on our 16 Nov., 2018 report, landfill management firm Republic Services is reporting landfill gas-to-renewable natural gas (RNG) production is underway at the South Shelby Landfill in Memphis, Tennessee. The landfill can produce 4,000 MMBtu per day -- roughly 33,250 gpd of gasoline.
Michigan-based Aria Energy operates the project which processes and purifies biogas into RNG which will be transported by BP into interstate natural gas pipelines and marketed it to RNG customers. The project is Aria's and BP's fourth RNG project at a Republic Services' landfill. (Source: Republic Services, PR, Kallanish, 31 Aug., 2020)
Contact: Republic Services, 702-735-5151, www.republicsaervices.com; Aria Energy, Richard DiGia, CEO, (248) 380-3920, www.ariaenergy.com
More Low-Carbon Energy News Republic Services, RNG, Landfill Gas, Aria Energy,
Aria Adds Landfill Gas-to-Energy Capacity in Sarasota (Ind Report)
Novi, Michigan-based baseload renewable energy provider Aria Energy reports it is increasing its landfill gas-to-energy capacity from 4.8 MW to 6.4 MW at Sarasota County's Central County Solid Waste Disposal Complex in Nokomis, Florida.
Aria Energy designed, built, owns and operates the facility which began operating in 2015.
Aria Energy owns and/or operates a diversified portfolio of 41 landfill gas recovery and processing projects across 17 states, collectively representing 175.9 MW of electric capacity and 20,760 MMBtu/day of renewable natural gas, according to the company. (Source: Aria Energy, PR, 11 Dec., 2019) Contact:
Richard DiGia, CEO, (248) 380-3920, www.ariaenergy.com
More Low-Carbon Energy News Aria Energy, Landfill Gas,
$3.3Mn Landfill Gas RNG Plant Planned for Memphis (Ind. Report)
Aria Energy,South Shelby RNG LLC
South Shelby RNG LLC, a part of Novi, Michigan based Aria Energy, has reportedly applied for a building permit for a $3.3 million landfill renewable natural gas (RNG) plant adjacent to the South Shelby Landfill operated by Republic Services in Memphis, Tenn.
has developed, constructed or acquired more than 50 facilities over the past 25 years in 16 states. Together, those sites produce 223 MW of electricity and 19.9 million BTUs a day of renewable natural gas, according to the company. (Source: Aria Energy, Daily Menphian, 14 Nov., 2018) Contact: Aria, Richard DiGia, CEO, (248) 380-3920, www.ariaenergy.com
More Low-Carbon Energy News Landfill Gas, Methane.RNG, Aria Energy,
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