Vitol acquires US-based biomethane company
Vitol today announces the acquisition of renewable energy company, BioMethane Partners, to form Vitol BioMethane (VBM).
VBM is a Texas-based landfill-gas-to-energy company, whose leadership has more than 100 years of combined experience in designing, building, and operating gas collection systems, natural gas treatment plants, and pipeline interconnects and injection across the landfill gas (LFG) and traditional natural gas businesses. VBM has four renewable natural gas (RNG) sites located in Alabama, Louisiana and Texas, and is in various stages of development with multiple other sites in these states and others throughout the US.
Landfill gas is a key source of renewable energy that not only mitigates climate change through the reduction of highly potent methane emissions, but can have a transformative and positive impact on local communities through revenue generation derived from the sale of RNG and associated environmental benefits, as well as job creation for its facilities.
Mike Noack, VBM’s CEO stated: “Utilizing the methane created at landfill delivers dual benefits of mitigating climate change through curbing methane emissions, and economic benefits for the local community.
“We believe the combination of VBM’s operational and development teams, coupled with Vitol’s marketing and trading expertise, as well as its financial strength, creates the industry’s strongest and most experienced landfill-gas-to-energy company.”
Steve Barth, Senior Business Developer, Renewables at Vitol said. “I am delighted to announce the acquisition of Vitol BioMethane (VBM). This represents a compelling and unique opportunity for Vitol to expand its presence in the RNG industry, utilizing decades of experience in experience of natural gas treatment by the team at VBM, and harnessing Vitol’s unrivalled trading acumen.”
VBM’s predecessor company, BioMethane Partners, was established in 2021, and was acquired by Vitol in September 2023.
About Vitol
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. Chartering circa 6,000 sea voyages every year, Vitol trades 550mTOE of energy products per annum, including over 20mTOE of LNG and 1,600TWh contracted natural gas sales. Vitol also actively trades the environmental credits associated with renewable natural gas (RNG).
Vitol’s clients include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: 17+mm3 of storage globally, 550kbpd of refining capacity, over 7,500 service stations and has committed over $2.5 billion to sustainable energy investments. Revenues in 2023 were $400 billion.