BlackRock Real Assets has bought US organics-to-renewable-energy company Vanguard Renewables from Vision Ridge Partners.
Founded in 2014, Vanguard Renewables develops food and dairy waste-to-renewable-energy projects.
Vanguard Renewables owns and operates on-farm anaerobic digester facilities in the northeast and currently operates manure-only digesters in the south and west for Dominion Energy. The company’s expansion plans include more than 100 anaerobic digestion facilities by 2026.
Mark Florian, head of diversified infrastructure at BlackRock Real Assets, said: “We are pleased to invest in Vanguard Renewables, a leading producer of renewable natural gas from agriculture and organic food waste in the US, supported by long-term contracts.
“Renewable natural gas is an attractive and fast-growing market that provides decarbonisation solutions for both the provider of the waste, as well as the natural gas consumer.”
Neil H Smith, CEO at Vanguard Renewables, said: “Today is the beginning of an exciting next chapter for Vanguard Renewables as we scale our farm-powered programme across the nation.
“We are thankful for the steadfast support of Vision Ridge over the past eight years and look forward to our new partnership with BlackRock Real Assets, one of the world’s most forward-thinking and environmentally-focused investors, as we continue to develop solutions to protect our planet.”
George Polk, partner at Vision Ridge Partners, said: “We are proud to have helped build Vanguard Renewables into an unmatched renewable natural gas platform pioneering a decarbonising pathway in the US while generating strong returns for Vision Ridge investors, and are pleased to transition ownership to a like-minded investor, BlackRock Real Assets.”
John Hanselman, founder and chief strategy officer at Vanguard Renewables, said: “I am immensely proud to have helped build a company from the ground up into a national organic waste-to-renewable energy leader.
“Vanguard Renewables’ mission has always been to help America realise a future where waste is a resource for renewable energy generation and regenerative agriculture practice.”
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