Burnham RNG is Acquired by Ares Management
Burnham RNG is Acquired by Ares Management PR Newswire
Burnham RNG Acquired by Ares Management
Burnham RNG’s Current Asset Footprint Includes the Pasco Resource Recovery Center and a Pipeline of Biogas Projects Across the U.S.
ARLINGTON, Va., Dec. 4, 2023 /PRNewswire/ —
Burnham RNG (“Burnham” or the “Company”), a full-service developer and owner of organic waste management and anaerobic digestion biogas assets across the U.S., has announced that a fund managed by Ares Management’s Infrastructure Opportunities strategy (“Ares”) has made a strategic investment to acquire the Company from Edge Natural Resources (“Edge”). This investment from Ares, a leading infrastructure investor, will support Burnham in the further development and construction of its broader pipeline of renewable natural gas (“RNG”) assets located throughout the U.S. This acquisition follows Ares’ previous investment in Dynamic Renewables and demonstrates their commitment to building scale in the waste-to-value space, aligned with the Sustainable Development Goals (SDGs).
About Burnham RNG
Burnham RNG is a leading fully integrated origination, development, financing, and asset management platform that provides waste recovery solutions focused on the wastewater and agricultural waste industries. The Company owns and operates the Pasco Resource Recovery Center (“PRRC”) in Pasco, Washington. PRRC treats an average of 4.4 million gallons of industrial wastewater sourced from six local food processors per day using anaerobic digestion and supplementary nitrogen reduction systems. The facility produces treated water for irrigation and approximately 900 MMBtu/day of renewable natural gas. Burnham also has a development pipeline of several waste-to-biogas projects across the U.S.
Leadership and Vision
Burnham is led by its Founder and Chief Executive Officer, Chris Tynan, who has over two decades of experience in financing and developing infrastructure projects. Mr. Tynan expressed his excitement about working with Ares in the company’s next chapter of growth, stating, “We are proud of the team and the business we have built to date and look forward to deploying more successful biogas projects in the wastewater segment and beyond alongside an experienced infrastructure investor in Ares.”
Commitment to Sustainable Development Goals
Ares Infrastructure Opportunities is committed to providing investors access to the dynamic climate infrastructure sector. Andy Pike, Partner and Co-Head of Ares Infrastructure Opportunities, emphasized their focus on identifying companies that provide circular waste management solutions to critical industries while producing renewable natural gas as a green fuel product. Burnham’s flagship asset, PRRC, exemplifies this commitment, and Ares looks forward to supporting the platform in developing its pipeline of projects and delivering waste management solutions to the wastewater and agricultural end markets.
Akin Gump Strauss Hauer & Feld LLP served as legal counsel to Edge, while Latham & Watkins LLP served as legal counsel to Ares.
About Ares Management
Ares Management Corporation is a leading global alternative investment manager offering clients primary and secondary investment solutions across various asset classes. With a global platform and over $395 billion of assets under management, Ares seeks to provide flexible capital to support businesses and create value for stakeholders and communities. The company operates across North America, Europe, Asia Pacific, and the Middle East.
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Jacob Silber, +1 212-301-0376
SOURCE Burnham RNG
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