Financing Supports Development of Renewable Natural Gas Projects in Michigan
January 27, 2025 – BerQ RNG, a leading developer of renewable natural gas (RNG) projects, today announced the successful closing of $110 million in Solid Waste Facilities Limited Obligation Revenue Bonds issued by the Michigan Strategic Fund. The proceeds will be used to fund the construction of four dairy manure-to-RNG projects across Michigan.
The bonds were issued as part of the Michigan Private Activity Bond Program which, among other purposes, supports qualified investments in sustainable infrastructure that advance renewable energy and environmental benefits. The financing structure provides low-cost capital to support the deployment of BerQ RNG’s innovative dairy waste-to-energy solutions, reducing greenhouse gas emissions and contributing to a more sustainable energy future.
“This financing is a significant milestone in our mission to develop and expand sustainable RNG projects,” said Bas van Berkel, CEO of BerQ RNG. “These projects will not only reduce methane emissions from dairy operations but also provide clean, renewable energy that supports decarbonization efforts in Michigan and beyond.”
The bonds were underwritten by Barclays Capital, Inc. David Livingstone from Barclays said: “This transaction advances BerQ RNG in advancing its renewable energy initiatives and underscores Barclays’ expertise in financing energy transition projects.”
BerQ RNG’s projects will convert dairy manure into pipeline-quality RNG through anaerobic digestion and gas upgrading technology. This process captures methane that would otherwise be emitted into the atmosphere, repurposing it as a clean energy source for transportation and utility applications.
About BerQ RNG
BerQ RNG is a leading renewable natural gas project developer focused on converting organic waste into clean energy solutions. With a large portfolio of RNG projects across North America, BerQ RNG is committed to delivering sustainable energy solutions that reduce emissions and support a circular economy. For more information, please visit http://www.berqrng.com. BerQ RNG is a portfolio company of Lotus Infrastructure Partners, a private equity investment firm based in Greenwich, CT that specializes in energy infrastructure investments. Through its existing general opportunity funds and affiliated investment vehicles, Lotus has raised in excess of $3 billion of equity capital and has executed transactions totaling more than $8 billion in enterprise value related to the development and construction of renewable energy assets, focusing on renewable power generation, battery storage, low-carbon fuels, electric transmission, and decarbonization. For more information, please visit www.lotusinfrastructure.com.
Media Contact
Marty Ryan Marty@Berqrng.com
412.709.3136