Vitol acquires BioMethane Partners to form new gas-to-energy company
Quantum Commodity Intelligence – Swiss-based trading company Vitol has acquired US-based biomethane company BioMethane Partners to form a new landfill-gas-to-energy company Vitol BioMethane (VBM).
VBM will utilise gas from nearby waste landfills to produce renewable natural gas (RNG) at its facilities.
"This represents a compelling and unique opportunity for Vitol to expand its presence in the RNG industry, utilizing decades of experience in natural gas treatment by the team at VBM, and harnessing Vitol's unrivalled trading acumen," said Vitol's Senior Renewables Business Developer, Steve Barth.
VBM currently has four RNG sites in Alabama, Louisiana and Texas and is developing multiple other sites in these states and across the US.
"Utilizing the methane created at landfill delivers dual benefits of mitigating climate change through curbing methane emissions, and economic benefits for the local community," said VBM's CEO, Mike Noack.
The acquisition followed Industrial gas company Air Liquide's plans to expand its biomethane production in the US with two new production plants starting construction in Pennsylvania and Michigan.
Air Liquide's facilities will produce RNG using manure in anaerobic digesters for a total capacity of 74 GWh.
According to the International Energy Agency, landfill gas collection currently accounts for nearly 90% of biomethane production in the US.
The trading firm has committed $2.5 billion to sustainable investment and has a total renewable power capacity of 1.3 GW globally,
