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
Equipment Companies Reveal Latest Developments
This is the second part of three parts in the coverage of the Wood Bioenergy Conference & Expo held March 29-30, 2022 at the Omni Hotel at CNN Center and hosted by Wood Bioenergy magazine. Part one in the June issue focused on the keynote talks from producer and consultant personnel. Part two highlights several presentations delivered by representatives of equipment and technologies companies. Look for…
Drax Acquires BC’s Princeton Standard Pellet
Drax Group has signed an agreement with Princeton Standard Pellet Corporation (PSPC) to acquire its pellet plant in Princeton, British Columbia, Canada. The acquisition is expected to be complete in the third quarter of this year. The plant, which has been operating since 1995, has the capacity to produce 90,000 tonnes of wood pellets a year, primarily from sawmill residues. Around half of the output from the plant…
This Drum Dryer Will Get Your Attention
Brazil particleboard manufacturer Berneck S.A. is implementing what is believed to be the world’s largest drum dryer—36 m long and a diameter of 7.8 m—at its plant in Curitibanos, Santa Catarina. Dieffenbacher is supplying the drum dryer as well as an 84 MW energy system…
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.