MAINE STATE CHAMBER OF COMMERCE
  • About Us
    • Connect with Us
    • Affiliates & Partners
    • Our Board
    • Meet the Team
    • President's Message
    • External Social Media Policy
  • Membership
    • Benefits of Membership
    • Join the Chamber
    • Return on Investment
    • Member Search
  • Public Policy
    • Public Hearings of Interest
    • Legislation of Interest
    • Public Policy Committees
    • Grassroot Resources
    • Find Your Legislator >
      • Representatives
      • Senators
  • Events
    • Calendar of Events
    • 2022 Annual Meeting
    • Sponsorship Opportunities
    • Business Day at the Statehouse
    • Board Meetings & Board Events
    • DC Fly-In
    • Legislative Social
    • Policy Issues Workshops
    • Regional Breakfasts
    • Scramble for Scholars
    • Webinars by The Maine State Chamber of Commerce
  • Initiatives
    • Campus Career Connect
    • Dream It. Do It.
    • Education Foundation
    • Keep Maine Competitive
    • Maine Economic Research Institute (MERI)
    • This is ME Counting on You
    • Senior Leaders of Tomorrow Development Program
  • Newsroom
    • COVID-19 Resources
    • Impact Newsletter
    • MSCC Blog
    • The Bottom Line
    • The Maine Take
    • Making Maine Work
    • MERI Roll Call
    • OneVoice Maine Magazine
    • Policy Brief Series with Educate Maine
    • Press Kit
  • Member Login

ReEnergy and Ember Infrastructure to form bioenergy platform joint venture

4/29/2021

0 Comments

 
On April 28, 2021, ReEnergy Biomass Operations LLC and Ember Infrastructure announced plans to enter into a joint venture to create an industry-leading bioenergy platform. The company will be named ReGenerate Energy and will be led by experienced team members from ReEnergy and Ember. The new company will acquire an ownership interest in ReEnergy’s two biomass power plants in Maine – ReEnergy Stratton and ReEnergy Livermore Falls – and will look to expand the platform through the acquisition of additional bioenergy assets across North America.
ReGenerate Energy will leverage ReEnergy’s operational capabilities and both teams’ experience in acquiring and growing renewable energy platforms as it pursues a robust pipeline of acquisition targets. ReEnergy will continue operating the Maine facilities as well as the other assets added to the new company, and the Maine facilities will continue to use the ReEnergy name.
 
Larry D. Richardson, chief executive officer of ReEnergy Holdings and one of its co-founders, said: “This is an exciting time in the history of ReEnergy. With the combination of Ember’s capital and experience in the energy industry, and ReEnergy’s expertise in the bioenergy sector, we look forward to a period of new growth and innovation.”
 
Elena Savostianova, managing partner of Ember, said: “We are thrilled to partner with ReEnergy, given the team’s track record of best-in-class operations as we build out the platform and capitalize on compelling opportunities we see in the bioenergy sector as demand grows for resource efficient, carbon-neutral base-load power generation.”
 
The transaction is expected to close this summer; terms of the agreement were not disclosed. Whiteman Osterman & Hanna LLP served as legal counsel to ReEnergy. Mayer Brown LLP served as legal counsel to Ember.

About ReEnergy: ReEnergy Biomass Operations LLC is a wholly owned subsidiary of ReEnergy Holdings LLC, which was formed in 2008 by a senior management team comprised of experienced industry professionals along with an energy-sector focused private equity fund. In 2019, the management team completed a buyout of this fund’s ownership interest. ReEnergy Holdings LLC also owns ReEnergy Black River, a 60-MW biomass power facility located on the Fort Drum U.S. Army installation near Watertown NY, and ReSource Waste Services LLC, which operates five facilities in New England that recycle construction and demolition waste materials. ReEnergy’s bioenergy facilities transform forest-derived, sustainably harvested woody biomass and other wood waste residues to produce renewable clean energy. This benefits the environment by enhancing forest health and reducing the use of fossil fuels.
        The 48-MW ReEnergy Stratton and 39-MW ReEnergy Livermore Falls facilities support approximately 50 direct jobs, more than 300 indirect jobs, spend more than $30 million annually and purchase more than 700,000 tons of fuel each year from Maine loggers/truckers and mills.
 
About Ember: Founded in 2018, Ember is a New York-based private equity firm delivering capital solutions to businesses and assets seeking to reduce carbon intensity and enhance resource efficiency. Ember focuses on equity investments across renewable energy, water, waste, industrials and agricultural infrastructure. For more information, please visit www.ember-infra.com.

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Archives

    January 2023
    December 2022
    September 2022
    August 2022
    June 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    September 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    August 2020
    July 2020
    June 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019

    RSS Feed

Copyright Maine State Chamber of Commerce. All rights reserved.
 128 State Street | Suite 101 | Augusta, ME 04330-5630
 Phone: (207) 623-4568
For media inquiries, please contact Jen Webber, (207) 939-0213
For membership inquiries, please contact Mark Ellis. (207) 623-4568
  • About Us
    • Connect with Us
    • Affiliates & Partners
    • Our Board
    • Meet the Team
    • President's Message
    • External Social Media Policy
  • Membership
    • Benefits of Membership
    • Join the Chamber
    • Return on Investment
    • Member Search
  • Public Policy
    • Public Hearings of Interest
    • Legislation of Interest
    • Public Policy Committees
    • Grassroot Resources
    • Find Your Legislator >
      • Representatives
      • Senators
  • Events
    • Calendar of Events
    • 2022 Annual Meeting
    • Sponsorship Opportunities
    • Business Day at the Statehouse
    • Board Meetings & Board Events
    • DC Fly-In
    • Legislative Social
    • Policy Issues Workshops
    • Regional Breakfasts
    • Scramble for Scholars
    • Webinars by The Maine State Chamber of Commerce
  • Initiatives
    • Campus Career Connect
    • Dream It. Do It.
    • Education Foundation
    • Keep Maine Competitive
    • Maine Economic Research Institute (MERI)
    • This is ME Counting on You
    • Senior Leaders of Tomorrow Development Program
  • Newsroom
    • COVID-19 Resources
    • Impact Newsletter
    • MSCC Blog
    • The Bottom Line
    • The Maine Take
    • Making Maine Work
    • MERI Roll Call
    • OneVoice Maine Magazine
    • Policy Brief Series with Educate Maine
    • Press Kit
  • Member Login