A Clear Vitality fueling station. (Clear Vitality Fuels Corp.)
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Clear Vitality Fuels Corp. introduced that it entered right into a four-year $150 million sustainability-linked senior secured time period mortgage with Riverstone Credit score Companions.
This financing supplies Clear Vitality with extra capital to execute its renewable pure gasoline development technique as demand for RNG gasoline quickly rises, the Newport Seashore, Calif.-based firm famous. Clear Vitality’s development technique consists of the event of adverse carbon depth RNG tasks and building of recent RNG fueling stations for transportation sector prospects.
Proceeds from the time period mortgage can be used, partly, to assist fund the corporate’s fast enlargement of RNG tasks at dairies, which seize fugitive methane and switch it right into a gasoline made completely from natural waste and reduces carbon emissions by a mean of 300% versus diesel, it reported, and added demand for the gasoline continues to develop as prospects akin to Republic Companies, WM, UPS, LA Metro and New York Metropolis MTA proceed to develop their RNG fleets.
“Our joint ventures with bp and TotalEnergies are having nice success. We’re at the moment establishing a number of RNG tasks at dairies across the nation with a wholesome pipeline of different tasks. This extra financing will permit us to remain on this fast tempo of improvement,” Andrew Littlefair, CEO of Clear Vitality, mentioned in a launch.
Based in 2000, Riverstone famous it’s an funding agency centered on executing non-public fairness and credit score investments in vitality, energy, decarbonization and infrastructure. To this point, the agency has raised about $43 billion of capital, which it has deployed throughout its platform to over 200 portfolio firms since inception. — Transport Matters
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