Quinbrook acquires food waste-focused biogas firm
Quinbrook Infrastructure Partners (Quinbrook), a specialist investment manager focused exclusively on the infrastructure needed to drive the energy transition, has acquired US-based biogas firm PurposeEnergy.
PurposeEnergy is focused on waste solutions for the food and beverage industries. It has developed, owned and operated multiple projects that convert organic waste streams to biogas for use in industrial processes, conversion to renewable electricity, or refinement to Renewable Natural Gas (RNG) over the last 15 years.
The company is headquartered in New Hampshire, and it utilises technologies - including proprietary methods developed and patented by PurposeEnergy - to convert organic waste streams to high value biogas and RNG, which is sold to customers under long-term contracts.
PurposeEnergy said it has developed, designed and built seven projects that support the ESG, business and decarbonisation objectives of some of the largest food and beverage companies in the world. T
It currently has one project in construction, two starting construction later this year and additional growth projected from existing and new customers.
While PurposeEnergy has largely served the food and beverage industries, it also works with dairies and depacking operations to convert organic waste streams to energy.
"Quinbrook is really excited to be moving into such a high growth and important sector that desperately needs more sustainable solutions that convert organic food waste into renewable power and biogas," said Quinbrook's managing partner and co-founder David Scaysbrook.
"The demand for renewable fuels is exploding and in PurposeEnergy we have found a highly capable technical and operational team that have been in business over a decade, delivering impactful solutions for customers and the environment.
"Now is the right time for us to scale this business to realise its full potential. PurposeEnergy is a great example of the Quinbrook model for value-add investing."
"For more than a decade, PurposeEnergy has demonstrated technical and operational excellence in treating process wastewater and organic residuals for industrial food and beverage producers," added PurposeEnergy founder and CEO Eric Fitch. "The investment by Quinbrook will greatly expand our ability to identify, finance, build and operate new projects, helping our customers achieve their ESG goals while conserving capital to invest in their core businesses."
Quinbrook’s acquisition of the Company will deliver the capital resources, enhanced commitment to sustainability and ESG driven impact, and additional strategic relationships to support rapid scale up to meet the growing demand for renewable fuels.
The food industry is an attractive sector for investment which is set for enormous growth given more stringent environmental regulations, the critical need for more sustainable solutions for growing food waste and the acute demand for renewable fuels across the board.
PurposeEnergy is focused on waste solutions for the food and beverage industries. It has developed, owned and operated multiple projects that convert organic waste streams to biogas for use in industrial processes, conversion to renewable electricity, or refinement to Renewable Natural Gas (RNG) over the last 15 years.
The company is headquartered in New Hampshire, and it utilises technologies - including proprietary methods developed and patented by PurposeEnergy - to convert organic waste streams to high value biogas and RNG, which is sold to customers under long-term contracts.
PurposeEnergy said it has developed, designed and built seven projects that support the ESG, business and decarbonisation objectives of some of the largest food and beverage companies in the world. T
It currently has one project in construction, two starting construction later this year and additional growth projected from existing and new customers.
While PurposeEnergy has largely served the food and beverage industries, it also works with dairies and depacking operations to convert organic waste streams to energy.
"Quinbrook is really excited to be moving into such a high growth and important sector that desperately needs more sustainable solutions that convert organic food waste into renewable power and biogas," said Quinbrook's managing partner and co-founder David Scaysbrook.
"The demand for renewable fuels is exploding and in PurposeEnergy we have found a highly capable technical and operational team that have been in business over a decade, delivering impactful solutions for customers and the environment.
"Now is the right time for us to scale this business to realise its full potential. PurposeEnergy is a great example of the Quinbrook model for value-add investing."
"For more than a decade, PurposeEnergy has demonstrated technical and operational excellence in treating process wastewater and organic residuals for industrial food and beverage producers," added PurposeEnergy founder and CEO Eric Fitch. "The investment by Quinbrook will greatly expand our ability to identify, finance, build and operate new projects, helping our customers achieve their ESG goals while conserving capital to invest in their core businesses."
Quinbrook’s acquisition of the Company will deliver the capital resources, enhanced commitment to sustainability and ESG driven impact, and additional strategic relationships to support rapid scale up to meet the growing demand for renewable fuels.
The food industry is an attractive sector for investment which is set for enormous growth given more stringent environmental regulations, the critical need for more sustainable solutions for growing food waste and the acute demand for renewable fuels across the board.
