TPG Rise Climate Accelerates Renewable Energy Development with Investment in Monarch Bioenergy Joint Venture
TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform TPG Rise, today announced an investment in Monarch Bioenergy, a joint venture between Roeslein Alternative Energy (RAE) and a subsidiary of Smithfield Foods, Inc. Launched in 2018, Monarch leverages RAE’s state-of-the-art technology and Smithfield’s innovative sustainable farming practices to capture methane emissions and convert them into carbon-negative renewable natural gas (RNG) to power homes, vehicles and businesses. Chris Roach, President of RAE, will serve as Monarch’s Chief Executive Officer, a newly created role.
Accelerating the transition to renewable energy, greening the industrial sector, and scaling greenhouse gas abating technologies are core pillars in TPG Rise Climate’s multi-sector investing strategy. As an equal partner in the JV, TPG Rise Climate will work with RAE and Smithfield to advance agricultural innovation, enhance existing projects in Missouri, and develop new ones in select states across the U.S.