H.I.G. Capital acquires stake in RNG project developer Northern Biogas
H.I.G. Capital has acquired a controlling stake in Northern Biogas, a waste-to-renewable natural gas company based in West Virginia that specializes in developing renewable natural gas facilities (RNG facilities).
The financial terms of the deal were not disclosed.
Ed Pallesen — H.I.G. Infrastructure Co-head said: “We have a strong commitment to facilitating the transition to a clean energy economy, and Northern Biogas is an excellent example of our approach of investing in sustainable, critical infrastructure. This investment is a strong addition to our existing portfolio of middle market, value-add infrastructure companies.”
Northern Biogas provides sustainable, clean energy solutions for waste produced by landfills, dairies, and other facilities.
The waste-to-renewable natural gas company designs, constructs, owns, operates, services, as well as maintains anaerobic digester and RNG facilities.
It is said to have installed its own proprietary anaerobic digester designs at various sites across the US.
Northern Biogas operates an RNG facility in Middleton, Wisconsin which is jointly owned with EnTech Solutions. At the Middleton RNG facility, waste produced by dairy cows is turned into RNG by using an anaerobic digestion process.
Recently, the firm obtained final approval to begin the execution of its next two dairy RNG facilities. Apart from these, Northern Biogas is developing various other dairy, food waste, and landfill RNG plants in the US.
Chris Akers — Northern Biogas CEO said: “We appreciate H.I.G.’s confidence in our business plan and are excited to partner with H.I.G. as we continue to execute on our development pipeline of dairy, landfill, and food waste RNG projects.
“We are solidly positioned to provide rapid, best-in-class service to our customers and partners, given our unique combination of development experience, in-house technical knowledge, and full scale, proven construction and operation expertise, all of which are now supported by H.I.G., an outstanding financial partner.”