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Green Rock Energy acquires stake in Bio Town Biogas

Published by , Assistant Editor
Energy Global,

Green Rock Energy Partners LLC, a sustainable infrastructure focused private equity firm which invests in renewable energy companies and projects, has acquired a stake in Bio Town Biogas LLC, a producer of renewable power that is expanding into renewable natural gas, in partnership with Bio Town Ag (BTA) and lenders. Green Rock’s announcement of the partial acquisition, which closed in 3Q21, is the firm’s first investment announcement.

In keeping with Green Rock’s primary investment focus on waste-to-value energy assets, Bio Town sources food waste, dairy manure, beef manure, and other agriculture waste to produce renewable electricity, renewable heat, and renewable natural gas. The project, located in Reynolds, Indiana, US, is expected to produce more than 42 million kWh/y of renewable power, while also producing more than 3 million gal./y of renewable fuel. Northern Indiana Public Service Company (NIPSCO) will provide the renewable power offtake, while United Energy Trading and others will provide the renewable natural gas offtake.

“We are excited to work with our partners at BTA to build one of the largest and most economically efficient projects in the renewable natural gas and renewable power space” said Andrew Kelleher, Co-Founder and Managing Partner of Green Rock, which officially launched on April 13.

The Bio Town facility supports more than 50 full-time jobs. Previously, Bio Town’s renewable power assets were owned fully by BTA, a multi-generational family farm that has been a sustainability leader in the agricultural community for decades and continues to push for innovative ways to utilise different waste streams. BTA spun off the power business to Bio Town in order to jointly partner with Green Rock and expand its renewable natural gas business.

A variety of partners supported Green Rock and BTA in the Bio Town deal. DVO, Inc. and Clarke Energy will provide the digester, biogas CHP engines, biogas upgrading technology, and local service support. Montrose Environmental and Venture Engineering & Construction provided engineering services. First Farmers Bank and Trust led the debt financing, and Gutwein Law acted as the legal advisor to Bio Town.

“We are thrilled to partner with the talented team at Green Rock on Bio Town,” said Brian Furrer, President of BTA. “The team’s commodities expertise and professional network plays a crucial role in the successful growth of our power business and our expansion into the renewable natural gas business.”

“We would like to thank the BTA team and all of the vendors for their hard work and tireless efforts,” added Chad Hoerr, General Manager of Bio Town.

“We are extremely appreciative of the hard work and dedication of the BTA team, which played a key role in the spin out of Bio Town, and we will continue to contribute to the successful elevation and expansion of the company,” added Martin Mitchell, Co-Founder and Managing Partner of Green Rock.




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