Melbourne-based IFM Investors announced that the IFM Net Zero Infrastructure Fund (NZIF) has completed the acquisition of a majority interest in GreenGasUSA, a US-based renewable natural gas (RNG) developer, owner and operator.
GreenGas CEO and Founder Marc Fetten said the acquisition will help the company enter its next era of growth to help farmers, food processors, and industrial manufacturers capture greenhouse emissions.
With the acquisition, GreenGas is able to increase the scope of its RNG initiatives and secure long-term investment financing.
Under the agreement, IFM Investors said Fetten will work with the current management group to continue leading the business.
Kyle Mangini, global head of infrastructure at IFM Investors, described the deal as “a significant milestone,” saying that the investment firm is looking forward to working with management to grow the business.
“We believe that our investment in GreenGas will help IFM deliver on its purpose to protect and grow the long-term retirement savings of working people,” Mangini noted.
Founded in 2018, GreenGas is a fully integrated renewables platform headquartered in Charleston, South Carolina with a track record of originating, developing, and operating RNG projects.
The company said it uses established technologies to capture, purify, and transport biogas from current organic waste streams for use as pipeline-quality RNG.
Comprehensive biogas solutions, such as biogas capture, anaerobic digestion, gas flaring, compression, transportation, and pipeline injection, are designed and approved by GreenGas’ wastewater and engineering professionals.
