Bioenergy DevCo, a global leader in anaerobic digestion technologies, has secured a significant $106 million institutional investment from Newlight Partners LP. This financial boost, announced on August 8, 2019, marks a pivotal moment for Bioenergy DevCo as it sets its sights on expanding its innovative organic waste solutions across North America. With a proven track record of over 200 anaerobic digestion plants worldwide, Bioenergy DevCo is poised to revolutionize organic waste management and contribute significantly to renewable natural gas production and sustainable soil amendment.
This substantial capital infusion from Newlight Partners will empower Bioenergy DevCo to offer comprehensive, turnkey solutions to municipalities and corporations grappling with the challenges of organic waste disposal. As landfills become increasingly strained and incineration faces environmental scrutiny, Bioenergy DevCo’s anaerobic digestion facilities provide a timely and effective alternative. These facilities naturally convert organic waste into valuable resources, namely renewable natural gas and organic soil amendment, thereby reducing landfill burden and mitigating harmful carbon emissions.
Shawn Kreloff, founder and CEO of Bioenergy DevCo, emphasized the transformative impact of this partnership with Newlight Partners. “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,” Kreloff stated. He further highlighted the collaboration’s strategic importance in meeting the escalating demand for anaerobic digestion technology. This technology, he explained, is a proven method for naturally transforming organic waste into clean, renewable natural gas, tailored to meet the specific needs of municipalities and companies throughout the nation.
Anaerobic digestion stands as a well-established and environmentally sound technology, offering a significant leap forward in waste management practices and aiding municipalities in achieving their zero-waste objectives. The renewable natural gas generated through this process is readily integrated into existing energy infrastructure, accessible to utilities and various natural gas consumers.
Mark Longstreth, Managing Director of Newlight Partners, conveyed his firm’s enthusiasm for supporting Bioenergy DevCo’s mission. “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,” Longstreth remarked. He also acknowledged the growing urgency for cities and corporations to pursue zero-waste, renewable energy, and carbon reduction goals. In this context, Bioenergy DevCo’s technology emerges as a promising solution, offering economically viable and environmentally responsible organic recycling-to-energy pathways.
Traditional methods of organic waste disposal, such as incineration, release pollutants into the environment, while landfills contribute to methane emissions, a potent greenhouse gas. Anaerobic digestion, in contrast, presents a cost-effective and eco-friendly approach. This natural microbiological process efficiently breaks down organic waste, yielding two valuable outputs: renewable natural gas, suitable for injection into energy grids or compression for transportation fuel, and digestate, a soil amendment comparable to compost in its organic content and stormwater management capabilities.
Steve Lefkowitz, Managing Partner of Sagewind Capital and Founding Partner of Bioenergy DevCo, underscored the multifaceted benefits of anaerobic digestion. “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,” Lefkowitz noted. He asserted that “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.”
Anaerobic digestion technology plays a crucial role in diverting organic waste from landfills and incinerators, fostering a genuine source of renewable natural gas that diminishes reliance on fossil fuels. By mitigating greenhouse gas emissions and sequestering carbon in the soil, this technology actively contributes to stormwater management and enhances soil health.
About Bioenergy DevCo
Bioenergy Development Company (BDC) is a recognized global leader in the financing, design, construction, engineering, and operation of anaerobic digestion facilities. Through its subsidiary BTS Biogas, BDC provides performance guarantees for its extensive portfolio of over 200 facilities worldwide. Anaerobic Digestion, BDC’s core technology, naturally processes organic waste, transforming it from a pollution source into renewable natural gas and valuable soil amendment. Headquartered in Howard County, MD, BDC is currently advancing the development of four facilities across the United States, demonstrating its commitment to expanding sustainable waste management solutions.
About Newlight Partners LP
Newlight Partners LP (Newlight) is a prominent private investment firm dedicated to partnering with management teams and strategic investors to cultivate exceptional and enduring businesses, primarily in North America. With over 15 years of experience, the Newlight Partners team has been instrumental in building successful ventures across diverse sectors, including financial services, telecommunications, power and renewable energy, healthcare services, and business services. Led by David Wassong and Ravi Yadav, Newlight Partners manages approximately $4 billion in capital commitments and assets, having invested roughly $6 billion in over 100 portfolio companies since 2005. This includes their tenure as the Strategic Investments Group at Soros Fund Management LLC (Soros) prior to spinning out to form Newlight Partners in 2018.
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SOURCE Bioenergy DevCo
