Quinbrook completes acquisition of PurposeEnergy
Quinbrook Infrastructure Partners has announced its acquisition of US-based renewable fuels and biogas specialist, PurposeEnergy. The company has developed, owned, and operated multiple projects over the past 15 years to convert organic waste streams to biogas for use in industrial processes, conversion to renewable electricity, or refinement to Renewable Natural Gas. The acquisition will provide capital resources, an enhanced commitment to sustainability, and additional strategic relationships to support rapid scale-up to meet the growing demand for renewable fuels. The food industry is an attractive sector for investment set for enormous growth, given more stringent environmental regulations and the critical need for more sustainable solutions for growing food waste.
PurposeEnergy's head office is in New Hampshire, and the company utilizes proprietary methods developed and patented to convert organic waste streams to high-value biogas and RNG that are sold to customers under long-term contracts. It has developed, designed, and built seven projects that support the ESG, business, and decarbonization objectives of some of the largest food and beverage companies in the world. In many cases, this has enabled customers to materially increase production and improve the economics of their core business. While PurposeEnergy has mainly served the food and beverage industries, the company also works with dairies and depacking operations to convert organic waste streams to energy.
Quinbrook's acquisition of PurposeEnergy will boost sustainability and ESG-driven impact, as well as additional strategic relationships to meet the rising demand for renewable fuels. With the food industry's need to comply with more stringent environmental regulations, the partnership is a strategic move to offer more sustainable solutions for food waste management. The acquisition will enable Quinbrook to leverage PurposeEnergy's expertise in the waste solutions sector and its strong track record in developing, designing, constructing, and operating projects that deliver high-impact solutions.
