Vitol, a leading energy trader, has broadened its renewable energy portfolio through the acquisition of BioMethane Partners, culminating in the formation of Vitol BioMethane (VBM), a significant move aimed at bolstering its presence in the burgeoning renewable natural gas (RNG) industry.
With a leadership team boasting over 100 years of collective experience in designing, constructing, and operating gas collection systems, natural gas treatment plants, and pipeline interconnects, VBM is poised to revolutionize the landfill gas (LFG) and traditional natural gas sectors.
VBM currently operates four RNG sites strategically located in Alabama, Louisiana, and Texas, with several others in various stages of development across the United States.
Landfill gas, a vital source of renewable energy, not only addresses climate change by mitigating methane emissions but also yields substantial economic benefits for local communities through revenue generation and job creation, according to VBM.
Mike Noack, CEO of VBM, emphasized the dual benefits of utilizing landfill methane, stating, “Utilizing the methane created at landfill delivers dual benefits of mitigating climate change through curbing methane emissions, and economic benefits for the local community.”
The synergy between VBM's operational and development teams and Vitol's marketing, trading expertise, and financial prowess positions VBM as the industry's foremost landfill-gas-to-energy entity, according to Noack.
Steve Barth, senior business developer, Renewables at Vitol, expressed his enthusiasm about the acquisition, highlighting the compelling opportunity it presents for Vitol to expand its footprint in the RNG sector.
“I am delighted to announce the acquisition of Vitol BioMethane (VBM). This represents a compelling and unique opportunity for Vitol to expand its presence in the RNG industry, utilizing decades of experience in natural gas treatment by the team at VBM, and harnessing Vitol's unrivaled trading acumen,” said Barth.
