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Marathon Capital Advises GreenGas on Partnership with IFM Investors

February 01, 2023

SERVICES

Mergers and Acquisitions

Marathon Capital, LLC (“Marathon Capital”) is pleased to announce GreenGasUSA, (“GreenGas” or “the company”) a US-based renewable natural gas (“RNG”) developer, owner, and operator, has signed a definitive agreement with the IFM Net Zero Infrastructure Fund (“NZIF”) to sell a majority interest in the company. NZIF is an open-ended fund targeting essential infrastructure assets that seek to accelerate the world’s transition to a net-zero emissions economy.

GreenGas is a fully integrated renewables platform headquartered in South Carolina with extensive experience originating, developing, and operating RNG projects. GreenGas’ RNG projects significantly reduce emissions from waste streams by capturing methane, which is 25 times more harmful on atmospheric warming than CO2 per the Environmental Protection Agency. The Company sells the RNG produced using mature technologies through long-term offtake contracts with investment grade commercial & industrial customers, such as Mercedes-Benz, Berkshire Hathaway Energy and Duke University.

Marathon Capital acted as exclusive financial advisor to GreenGas on the transaction.

“It was a pleasure working with the GreenGas and IFM teams throughout this highly competitive process. We are excited that the GreenGas team has found such a strong partner committed to support the growth of its business.” – Brian Kremer, Managing Director, Marathon Capital

“The GreenGas platform is highly differentiated within the RNG sector given its focus on food processing and industrial manufacturers, as well as the voluntary offtake markets. We look forward to supporting both IFM and GreenGas as they continue to expand the business.” – Gary Greenblatt, Senior Managing Director and Co-Head of NYC, Marathon Capital

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About GreenGas

GreenGas provides high quality renewable energy solutions centered around renewable natural gas (RNG) to carbon and renewable energy buyers. GreenGas’ wastewater and engineering experts design and permit comprehensive biogas solutions including, biogas capture, anaerobic digestion, gas flaring, compression, transportation, and pipeline injection. The core of our solutions is built around safety and environmental improvements. GreenGas has operational RNG facilities at agricultural and food processing sources across the country, with proven success in installing, commissioning, and operating gas upgrading equipment; RNG product compression and transportation; and existing pipeline injection infrastructure. Our existing assets and high-profile partnerships are helping to shape the renewable energy landscape by offering zero-carbon solutions to customers committed to bettering the environment.

About IFM Investors

IFM Investors was established more than 25 years ago with the aim to protect and grow the long-term retirement savings of working people. Owned by a group of Australian pension funds, the organisation has US$143 billion under management as of 31 December 2022. Because IFM Investors is owned by industry pension funds, the interests of 500 like-minded investors worldwide are prioritized by focusing on assets that combine excellent long-term risk/reward characteristics with broad economic and social benefits to the community. As a signatory to The United Nations-supported Principles for Responsible Investment, IFM Investors actively engages on ESG issues with the companies in which IFM Investors invests with the aim of enhancing their net performance while minimising investment risk. Operating globally from offices in Melbourne, Sydney, London, Berlin, Zurich, Amsterdam, New York, Hong Kong, Seoul and Tokyo, IFM Investors manages investments across infrastructure, debt, listed equities and private equity assets. For more information, visit ifminvestors.com.

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