HASI Invests in Bioenergy Devco's Growth of Anaerobic Digestion Facilities
Bioenergy Devco is building anaerobic digestion facilities that recycle organic waste and reduce greenhouse gas emissions across the US.
ANNAPOLIS, Md., March 20, 2023 /PRNewswire/ -- Bioenergy Devco, the North American division of BTS Bioenergy, LLC, today announced a $30 million investment by Annapolis-based HASI, (NYSE: HASI), a leading investor in climate solutions. Bioenergy Devco is the global leader in the design, engineering, construction, financing, and operation of anaerobic digestion facilities to recycle organic material and produce renewable natural gas. The financing, secured by Bioenergy Devco's Maryland Bioenergy Center – Jessup facility, which operates in Jessup, Maryland, will support the development of anaerobic digestion facilities across the U.S. to bring sustainable organic waste recycling, reductions in greenhouse gas emissions, and a sustainable energy resource to more communities in North America.
"We are proud to have HASI join us in our efforts to create a clean energy future for everyone," said Shawn Kreloff, Founder and Chief Executive Officer of Bioenergy Devco. "Organics recycling is an environmentally responsible way to convert food waste, a leading cause of greenhouse gas emissions, into clean renewable energy. HASI's investment not only affirms the success of our facility in Maryland, but it also acknowledges our company's substantial growth across the country. We have built more than 250 anaerobic digestion facilities around the world and are excited to bring this safe, proven technology to more communities in North America, providing greater movement towards a truly circular economy."
At Bioenergy Devco facilities, food waste is recycled through anaerobic digestion, a naturally occurring process in which organic materials are broken down by microorganisms in the absence of oxygen. The outputs are clean-burning renewable natural gas and an organic, nutrient-rich soil amendment. The fully enclosed system captures and collects the biogas released during the process creating a sustainable source of renewable natural gas that is injected directly into pipelines or can be converted to green hydrogen.
"We are excited to partner with Bioenergy Devco and provide the capital to accelerate delivery of their market-leading technology solutions for the energy transition," said HASI Managing Director Annmarie Reynolds. "Organics recycling facilities provide a much-needed source of reliable, storable renewable fuel while mitigating potent greenhouse gases."
HASI joins Bioenergy Devco's existing investor base which includes Newlight Partners LP, a growth equity investment firm, Sagewind Capital LLC, a New York-based middle-market private equity firm, and Irradiant Partners, LP, a credit-focused investment manager.
About Bioenergy Devco
Bioenergy Devco is a global leader in the design, engineering, construction, financing, and operation of advanced anaerobic digester systems. Our proven technology uses naturally occurring biological processes and provides a scalable option to help communities and businesses transform their waste and energy sectors. Headquartered in Annapolis, MD, Bioenergy Devco has built more than 250 and currently manages more than 150 organics recycling and clean energy generation facilities worldwide, and its anaerobic digesters help mitigate climate change by reducing greenhouse gas emissions and dependence on fossil fuel.
HASI (NYSE: HASI) is a leading climate positive investment firm. We partner with clients to deploy real assets that facilitate the energy transition. With more than $9 billion in managed assets, our vision is that every investment improves our climate future. For more information, please visit www.hasi.com.
Bioenergy Devco Media Contact
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SOURCE Bioenergy Devco
Released March 20, 2023