ORIX Corporation USA Completes Equity Investment in Three Renewable Natural Gas Projects
ORIX Corporation USA (ORIX USA) announced today the completion of an equity investment by its Special Opportunities group in three anaerobic digestion projects that are expected to convert more than 194 million gallons of dairy manure annually into renewable natural gas (RNG). The projects are located in Iowa and South Dakota and were developed by Dynamic Renewables, a leading developer and operator of biofuel projects in the United States.
The three projects will produce usable RNG while reducing greenhouse gas emissions. The projects will be co-located with local dairy producers and are expected to remove 691,000 MMBtu of methane from the atmosphere each year. This investment follows ORIX USA’s 2021 investment in BC Organics Anaerobic Digestion Facility (BCO), a commercial biorefinery in Wisconsin that will serve multiple local dairy producers and that is expected to remove 650,000 MMBtu of methane from the environment per year, after completion in late 2022.
“As a firm with an ongoing commitment to sustainability, biofuel projects are a great fit for us due to their important role removing methane from the atmosphere,” said Neil Winward, Head of Strategic Solutions within ORIX USA’s Special Opportunities group. “ORIX Group is active in renewable energy globally with a track record of strategic investments in solar, wind and biofuel projects. With this transaction, as a follow-on to our BCO investment, we are continuing to leverage the expertise of our global renewables platform to increase our investment in the biofuel sector in the U.S.”
In recent years ORIX Group has made an investment in global renewable energy company Elawan Energy S.L., as well as acquired a stake in India-based renewable energy company Greenko Energy Holdings. ORIX Group is committed to being a global renewable energy operator and to contributing to sustainability through its business activities.
“These investments align with our broader strategy of being one of the premier middle market financing firms in the U.S., with opportunities to participate across the capital structure for a range of investors,” added Ravi Singh, Head of Special Opportunities group. “Through this transaction we are pleased to be able to further reinforce ORIX Group’s global commitment to sustainability.”
ORIX USA was assisted by GoldenSet Asset Management, LLC, an affiliate of GoldenSet Capital Partners, LLC. Orrick, Herrington & Sutcliffe LLP acted as legal advisor to ORIX USA. Terms of the transaction were not disclosed.
About ORIX Corporation USA (ORIX USA)
Since 1981, ORIX USA has served the middle market with creative and flexible capital solutions, delivering through a capital base that combines the strength of its balance sheet with funds from third-party investors seeking access to attractive alternative investments. With a focus on private credit, real estate and private equity, ORIX USA and its subsidiaries — Boston Financial Investment Management, Lument, NXT Capital, RB Capital, Signal Peak Capital Management and ORIX Capital Partners—have over 1300 employees across the U.S. and Brazil. ORIX USA and its family of companies have $84.8 billion in assets, which include $26.9 billion of assets under management, $47.1 billion in servicing and administration assets, and approximately $11 billion in proprietary assets, as of March 2022. Its parent company, ORIX Group, is a publicly owned international financial services company with operations in 28 countries and regions worldwide. ORIX Group is listed on the Tokyo Stock Exchange (8591) and New York Stock Exchange (IX).
About GoldenSet Capital Partners:
GoldenSet Capital is focused on providing project equity and structured capital to companies and projects in the sustainable infrastructure sector. Together the GoldenSet team has developed, constructed, and financed more than 50 distributed solar and wind projects, with additional experience investing in cogeneration, biomass generation, renewable fuels, waste derived fuels and energy storage. http://www.goldensetcapital.com
About Dynamic Renewables:
Dynamic Renewables was founded in 2011 and is a full-service company that provides leading edge waste recovery solutions for both the Agricultural and Food Processing Industries. Three of its founding owners are involved with the daily operations of the business. They are the driving force of the company by integrating Dynamic Renewables’ technology and design into the following areas: landfill diversion, anaerobic digestion, nutrient concentration, and water treatment. Dynamic Renewables adds a unique value in the field by being experienced, and knowledgeable in the finance, design, development, operation, and management of customized world‐class infrastructure assets. These turnkey renewable energy and clean water solutions dispose of organic waste to impact the economy in environmentally friendly ways.
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