ORIX makes equity investment in RNG
US financial services company ORIX said May 11 it had completed an equity investment in a biorefinery that uses dairy farm waste as a source for renewable natural gas.
For an undisclosed sum, the company said it was investing in a commercial biorefinery in Wisconsin that processes dairy manure into renewable natural gas (RNG). The facility is operated by BC Organics, which is owned by Dynamic Expansion, a developer and operator of US biofuels projects.
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"ORIX is active in renewable energy globally with a track record of strategic investments in solar, wind and biofuel projects,” Neil Winward, the head of strategic solutions at ORIX, said. “With this transaction, we are now leveraging the expertise of our global renewables platform and increasing investment in the biofuel sector in this region as well.”
The RNG would keep harmful phosphates and nitrates out of the local water supply and avoid emissions of methane, a greenhouse gas more potent than CO2.
RNG development from farm waste is expanding across North America. Cayuga RNG, a joint venture owned by a subsidiary of UGI Energy Services, a subsidiary of UGI Corporation, and Global Common Energy, announced plans in early May to use the waste from a farm in upstate New York to produce RNG.
That project would utilise existing infrastructure that uses dairy waste as a feedstock to produce biogas that is used to produce electricity.