en.Wedoany.com Reported - Ameresco and HA Sustainable Infrastructure Capital (HASI) announced an agreement to carve out Ameresco's biofuel business into a newly formed joint venture, Neogenyx Fuels. The joint venture is 70% owned by Ameresco and 30% by HASI, with a post-money enterprise value of $1.8 billion. HASI has committed to invest $400 million, including $300 million for business growth and $100 million to reimburse Ameresco for existing operations. The agreement has been signed, and the transaction is expected to close within this quarter.

Neogenyx Fuels will focus on the development, ownership, and operation of advanced biofuels, particularly renewable natural gas. Ameresco will contribute its biofuel asset base and development and operational capabilities, while HASI will provide the capital platform. Ameresco CEO George P. Sakellaris stated, "With strategic focus and HASI's capital resources, Neogenyx Fuels will be able to scale faster." HASI President Jeffrey A. Lipson said, "We expect the RNG market to continue growing and are confident in partnering with a best-in-class operator." According to ICF market research, demand for renewable natural gas is projected to grow from the current approximately 139-153 million MMBtu/year to 612 million MMBtu/year by 2030.

Upon completion of the transaction, Neogenyx Fuels will become one of the largest biogas project developers in the United States. Neogenyx Fuels CEO Michael T. Bakas stated, "We will bring together an experienced team and proven execution capabilities to create a lasting impact on the energy transition." Financially, Ameresco will consolidate the assets and liabilities of Neogenyx Fuels, with HASI's 30% interest recorded as a non-controlling interest. Guggenheim Securities and others are serving as advisors. The joint venture is expected to drive further development in the biofuel industry.

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