Montauk Energy Acquires Pico Energy
Pittsburgh-based Montauk Energy has acquired 100% of the membership interests of Pico Energy, LLC for approximately $13 million. As a result of that transaction, Montauk Energy owns a large manure digester and electric generation facility located at the Bettencourt B6 Dairy in Jerome, Idaho and plans to design, build and operate a Biogas refining facility to convert the digester gas into pipeline-quality renewable natural gas (RNG) to be used as Compressed Natural Gas or Liquified Natural Gas dispensed as vehicular fuel in California. This facility will be substantially closed-loop, with byproducts either being recycled into the process, or serving a useful purpose, such as agricultural ameliorants or bedding for the cows.
Montauk Energy is one of the most experienced developers and operators of RNG and landfill gas to electricity facilities in the U.S., with 14 plants in 6 states. This is the second dairy digester RNG development project that Montauk Energy has announced this year. Marty Ryan, President & CEO of Montauk Energy commented, “We are tremendously excited by the addition of this new dairy digester RNG development project to our growing portfolio of renewable energy assets and will continue to pursue opportunities converting biogas from landfills and animal manure to low carbon, renewable fuels.”
About Montauk Energy:
Based in Pittsburgh, Pennsylvania, Montauk Energy Holdings, LLC is a subsidiary of Montauk Holdings Limited, a publicly traded company listed on the Johannesburg Stock Exchange (Ticker: MNK). Montauk has over 25 years of experience in the development, operation and management of large-scale renewable energy projects which utilize organically-derived methane (“Biogas”). Montauk Energy captures methane, preventing it from being released into the atmosphere, converts it into either renewable electricity or renewable natural gas (“RNG”) and sells the renewable electric and RNG, benefiting from environmental attribute premiums available under federal and state policies that incentivizes their use. For more information, please visit www.montaukenergy.com.