April 16, 2024 [Tank Storage]- Vitol has announced the acquisition of US-based renewable energy company, BioMethane Partners, to form Vitol BioMethane (VBM).
VBM is a Texas-based landfill-gas-to-energy company, whose leadership has more than 100 years of combined experience in designing, building, and operating gas collection systems, natural gas treatment plants, and pipeline interconnects and injection across the landfill gas (LFG) and traditional natural gas businesses. VBM has four renewable natural gas (RNG) sites located in Alabama, Louisiana and Texas, and is in various stages of development with multiple other sites in these states and others throughout the US.
Landfill gas is a key source of renewable energy that not only mitigates climate change through the reduction of highly potent methane emissions, but can have a transformative and positive impact on local communities through revenue generation derived from the sale of RNG and associated environmental benefits, as well as job creation for its facilities.
Mike Noack, VBM’s CEO says: ‘Utilizing the methane created at landfill delivers dual benefits of mitigating climate change through curbing methane emissions, and economic benefits for the local community. We believe the combination of VBM’s operational and development teams, coupled with Vitol’s marketing and trading expertise, as well as its financial strength, creates the industry’s strongest and most experienced landfill-gas-to-energy company.’
Steve Barth, senior business developer, Renewables at Vitol adds: ‘He is delighted to announce the acquisition of Vitol BioMethane (VBM). This represents a compelling and unique opportunity for Vitol to expand its presence in the RNG industry, utilizing decades of experience in experience of natural gas treatment by the team at VBM, and harnessing Vitol’s unrivalled trading acumen.’
Free Trial: Access 13,300 Tank Terminal and Production Facilities
13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data
