LUGOFF / CHARLESTON, SC – August 2, 2019 – NEOgas US, a leader in solutions for use of renewable bio methane gas, off-pipeline natural gas and CNG fueling has been acquired by a Charleston based renewable energy fund, GreenGasUSA, managed by local investor, Marc Fetten. The acquisition will become part of a growing portfolio of green and renewable energy holdings geared towards serving industrial, commercial and residential customers with environmentally sustainable and affordable energy solutions. This includes development and delivery of renewable bio methane generated from farm waste and landfills, delivery of natural gas to off-pipeline customers and increasing availability of gases to pipeline constrained markets including Charleston Beaufort, Georgetown and Myrtle Beach.
The acquisition encompasses all US operations including key assets in the southeast. An immediate follow on investment will expand the service network for gas deliveries across the southeast and northeast markets. In addition, the company is developing renewable bio methane projects from farm waste and landfills that capture otherwise harmful emissions and convert them to clean burning fuels that can be injected into pipelines or used for CNG powered fleets.
The purchase of NEOgas compliments the overall strategy to provide green and low emitting energy solutions to customers. As broader efforts to reduce carbon emissions progress, biofuels offer an important part of the energy mix in addition to wind, solar and traditional base load generation fuels. The company expects the renewable and low emitting energy segments to grow at above market rates. This investment represents an important strategic opportunity to offer green energy alternatives for a variety of industrial, fleet and residential customers, and renewable services including biogas generation and distribution, “ said Marc Fetten, CEO and Principal. The acquisition also adds capacity and geographic reach to generate and distribute energy for environmentally conscious clients.
Neogas will concentrate its efforts on growing in the other markets in which they currently operate, including Mexico, Colombia and Brazil. Neogas will continue to support GreenGasUSA with its technical resources going forward.
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NEOgas was established in 2000 with the purpose of developing technologies related to delivering compressed natural gas for automotive and industrial applications. NEOgas is a leader in solutions for use of off-pipeline natural gas and CNG fueling for on-road vehicles. We are distinguished by our commitment to performance, a focus on safety, and continued investments in innovative technologies. Our team of more than 140 employees operates a network of over 100 compressed natural gas facilities across the Americas. www.neogas.com.br/en/