ORIX Corporation USA completes equity investment in three renewable natural gas projects
NEW YORK, June 14, 2022–(BUSINESS WIRE)–ORIX Corporation USA (ORIX USA) today announced 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 per year 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.
All three projects will produce usable RNG while reducing greenhouse gas emissions. The projects will be co-located with local dairy farmers and are expected to remove 691,000 MMBtu of methane from the atmosphere each year. This investment follows the investment of ORIX USA Investment 2021 in BC Organics Anaerobic Digestion Facility (BCO), a commercial biorefinery in Wisconsin that will serve several local dairy producers and is expected to remove 650,000 MMBtu of methane from the environment per year, after completion at the end of 2022.
“As a company with an ongoing commitment to sustainability, biofuel projects are a great fit for us because of their important role in removing methane from the atmosphere,” said Neil Winward, Head of Strategic Solutions in 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, which follows our BCO investment, we continue to leverage the expertise of our global renewable energy platform to increase our investments in the biofuels sector in the United States”
In recent years, ORIX Group has made a investment in global renewable energy company Elawan Energy SLas well as the acquisition of a stake in an India-based renewable energy company Greenko Energy Holdings. ORIX Group is committed to being a global renewable energy operator and contributing to sustainability through its business activities.
“These investments align with our broader strategy to be one of the leading middle-market finance companies in the United States, with participation opportunities across the capital structure for a range of investors,” said added Ravi Singh, Head of the Special Opportunities group. “Through this transaction, we are pleased to be able to further strengthen ORIX Group’s global commitment to sustainability.”
ORIX USA was assisted by GoldenSet Asset Management, LLC, a subsidiary of GoldenSet Capital Partners, LLC. Orrick, Herrington & Sutcliffe LLP acted as legal counsel 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, 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 in the United States and Brazil. . ORIX USA and its family of companies have $84.8 billion in assets, including $26.9 billion in assets under management, $47.1 billion in service and administration assets and approximately $11 billion of proprietary assets, in March 2022. Its parent company, ORIX Group, is a public international financial services company with operations in 28 countries and regions around the world. ORIX Group is listed on the Tokyo Stock Exchange (8591) and the New York Stock Exchange (IX). For more information, visit orix.com.
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, built and financed over 50 distributed solar and wind projects, with additional investment experience 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 state-of-the-art waste recovery solutions for the agricultural and food industries. Three of its founding owners are involved in the daily operations of the business. They are the driving force behind the company by integrating Dynamic Renewables technology and design in the following areas: landfill diversion, anaerobic digestion, nutrient concentration and water treatment. Dynamic Renewables adds unique value in the field by being experienced and proficient in financing, designing, developing, operating and managing custom world-class infrastructure assets. These turnkey renewable energy and clean water solutions eliminate organic waste to impact the economy in an environmentally friendly way.
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