New Venture Forms Bioenergy Platform
ReEnergy Biomass Operations LLC and Ember Infrastructure announced plans to enter into a joint venture to create a bioenergy platform. The company will be named ReGenerate Energy and will be led by team members from ReEnergy and Ember. The new company will acquire an ownership interest in ReEnergy’s two biomass power plants in Maine, ReEnergy Stratton and ReEnergy Livermore Falls, and will look to expand the platform through the acquisition of additional bioenergy assets across North America.
Larry Richardson, CEO of ReEnergy Holdings and one of its co-founders, comments, “This is an exciting time in the history of ReEnergy. With the combination of Ember’s capital and experience in the energy industry, and ReEnergy’s expertise in the bioenergy sector, we look forward to a period of new growth and innovation.”
The transaction is expected to close this summer.
ReEnergy Biomass Operations LLC is a wholly owned subsidiary of ReEnergy Holdings LLC, which was formed in 2008 by a senior management team. ReEnergy Holdings LLC also owns ReEnergy Black River, a 60 MW biomass power facility located on the Fort Drum U.S. Army installation near Watertown, NY, and ReSource Waste Services LLC, which operates five facilities in New England that recycle construction and demolition waste materials.
Founded in 2018, Ember is a New York-based private equity firm delivering capital solutions to businesses and assets seeking to reduce carbon intensity and enhance resource efficiency.
RELATED ARTICLES:
Latest news
Forest Service Looks At Carbon Capture
U.S. Dept. of Agriculture’s Forest Service announced a Notice of Proposed Rulemaking (NPRM) that would allow the agency to consider proposals for potential carbon capture and sequestration projects on national forests and grasslands. This proposal would harmonize the framework between the federal government’s two largest land managers by aligning with regulatory structures already…
Highland Pellets Expanding To Mississippi
In late October Highland Grenada, LLC, an affiliate of Highland Pellets, LLC, announced the pending purchase of the former Georgeia-Pacific OSB mill site to build a new export pellet plant. According to news reports, the new plant will be a “replica” of Highland Pellets’…
Enviva Takes Huge Stock Price Hit
Enviva’s stock price, which has been falling all year from a high of $51 in January, sank to under a $1 a share on Thursday after a new interim CEO delivered a sobering third-quarter earnings call that raised questions about the company’s viability, blaming unfavorable wood pellet pricing, problems at a plant in Virginia, higher interest expenses and other factors…
Find Us On Social
Subscribe to Our Newsletter
Wood Bioenergy News Online hits the inboxes of subscribers in the wood-to-energy sectors.
Subscribe/Renew
Wood Bioenergy is published and delivered worldwide 6 times per year. Free to qualified readers in the U.S. Subscribers outside the U.S. are asked to pay a small fee.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.