IFM Net Zero Infrastructure Fund Completes GreenGas Acquisition, Marking Next Era of Growth for Renewable Energy Company
Acquisition of GreenGas is IFM Net Zero Infrastructure Fund’s first investment in low carbon fuels, a target growth sector in North America
CEO and Founder Marc Fetten to lead GreenGas expansion
IFM Investors is pleased to announce that the IFM Net Zero Infrastructure Fund (“NZIF”) has completed the acquisition of a majority interest in GreenGasUSA (“GreenGas”), a US-based renewable natural gas (“RNG”) developer, owner and operator.
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 utilizes mature technologies to capture, purify and transport biogas from existing organic waste streams for its end use as pipeline quality RNG. GreenGas’ key offtake partners include investment grade commercial & industrial customers, such as Mercedes-Benz, Berkshire Hathaway Energy and Duke University.
The acquisition secures long-term investment capital for GreenGas to expand its footprint of RNG projects. CEO and Founder Marc Fetten will continue to lead the company alongside the existing management team.
“We are excited to partner with IFM as we enter this next phase of growth,” said Fetten. “Our mission remains the same – to help farmers, food processors and industrial manufacturers capture greenhouse emissions. Our new owners help accelerate this as we build out the platform.”
IFM NZIF is an open-ended fund targeting essential infrastructure assets that seek to accelerate the world’s transition to a net-zero emissions economy. GreenGas represents NZIF’s first investment in the low carbon fuels sector, a core target sector of the fund.
“This is a significant milestone, and we look forward to working with management to grow the business,” said Kyle Mangini, Global Head of Infrastructure at IFM Investors. “We believe that our investment in GreenGas will help IFM deliver on its purpose to protect & grow the long-term retirement savings of working people.”
About IFM Investors
IFM Investors was established more than 25 years ago with the aim to protect and grow the long-term retirement savings of working people. Owned by a group of Australian pension funds, the organization has US$143 billion under management as of 31 December 2022. Because IFM Investors is owned by industry pension funds, the interests of more than 500 like-minded investors worldwide are prioritized by focusing on assets that combine excellent long-term risk/reward characteristics with broad economic and social benefits to the community. As a signatory to The United Nations-supported Principles for Responsible Investment, IFM Investors actively engages on ESG issues with the companies in which IFM Investors invests with the aim of enhancing their net performance while minimizing investment risk. Operating globally from offices in Melbourne, Sydney, London, Berlin, Zurich, Amsterdam, New York, Hong Kong, Seoul and Tokyo, IFM Investors manages investments across infrastructure, debt, listed equities and private equity assets. For more information, visit ifminvestors.com.
GreenGas provides high quality renewable energy solutions centered around renewable natural gas (RNG) to carbon and renewable energy buyers. GreenGas’ wastewater and engineering experts design and permit comprehensive biogas solutions including, biogas capture, anaerobic digestion, gas flaring, compression, transportation, and pipeline injection. The core of our solutions is built around safety and environmental improvements. GreenGas has operational RNG facilities at agricultural and food processing sources across the country, with proven success in installing, commissioning, and operating gas upgrading equipment; RNG product compression and transportation; and existing pipeline injection infrastructure. Our existing assets and high-profile partnerships are helping to shape the renewable energy landscape by offering zero-carbon solutions to customers committed to bettering the environment.
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