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.”
