Largest RNG Facility in the World Completed
Approximately Two Years after Gas Rights Execution
Archaea Energy Inc. (“Archaea” or “the Company”) (NYSE: LFG), an
industry-leading renewable natural gas (“RNG”) company, announced
today the successful start-up of Project Assai, an RNG facility
located at the Keystone Sanitary Landfill in Dunmore, Pennsylvania
(“Assai”). Pipeline-quality RNG has been produced and commercial
operations were achieved on December 30, 2021. Assai is now the
highest capacity operational RNG facility in the world.
Assai was successfully constructed, commissioned, and completed
within budget and in under two years, a timeline materially shorter
than industry averages for landfill gas to RNG development
projects, including projects of much smaller size. Assai has an
inlet capacity of 22,500 scfm and combines landfill gas flows from
the Keystone Sanitary Landfill and the Waste Management Alliance
Landfill. Assai is expected to reduce CO2 emissions by over 200,000
metric tons annually and significantly reduce air pollutants, many
by over 90%.
“Completion of Assai is a monumental moment for Archaea,” said
Nick Stork, Archaea’s Chief Executive Officer. “I would first like
to thank our team. They worked day and night, overcame obstacles,
and ignored many voices who said this couldn’t be done, let alone
completed safely, under budget, and on an accelerated timeframe not
seen before in our industry. I also want to thank the Keystone
Sanitary Landfill, their incredible people and ownership.
Keystone’s cooperation, vision and world-class operations were
critical to the success of the project. I am also thankful for our
partnerships with Waste Management, UGI, the Pennsylvania
Department of Environmental Protection and our commercial partners,
FortisBC Energy Inc., Énergir, L.P., and The University of
California System, who have all made meaningful long-term
commitments to decarbonization and to the success of this project.
Last but not least, I am grateful for the many learnings that came
from this project. We self-performed many critical aspects of this
project that most would have outsourced. The compounding effects of
this knowledge will translate to lower costs and faster timelines
for landfill owners and offtake partners across North America.
LFG!”
Assai is expected to deliver over 4 million MMBtu of RNG
annually at projected flows, methane recovery and uptime, resulting
in over $40 million of annual projected EBITDA. The project stands
to benefit from long-term gas rights agreements at landfills with
decades of capacity and strategically located within growing waste
markets. Approximately 80% of the total RNG volumes expected to be
produced at Assai have been contracted on a long-term, fixed fee
basis with FortisBC Energy Inc., Énergir, L.P., and The Regents of
the University of California, for periods of up to 20 years.
ABOUT ARCHAEA
Archaea Energy Inc. is one of the largest RNG producers in the
U.S., with an industry-leading platform and expertise in
developing, constructing, and operating RNG facilities to capture
waste emissions and convert them into low carbon fuel. Archaea’s
innovative, technology-driven approach is backed by significant gas
processing expertise, enabling Archaea to deliver RNG projects that
are expected to have higher uptime and efficiency, faster project
timelines, and lower development costs. Archaea partners with
landfill and farm owners to help them transform potential sources
of emissions into RNG, transforming their facilities into renewable
energy centers. Archaea’s differentiated commercial strategy is
focused on long-term contracts that provide commercial partners a
reliable, non-intermittent, sustainable decarbonizing solution to
displace fossil fuels.
Additional information is available at
www.archaeaenergy.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain statements that may include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended (the “Securities Act”), and
Section 21E of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”). Statements that do not relate strictly to
historical or current facts are forward-looking and usually
identified by the use of words such as “anticipate,” “estimate,”
“could,” “would,” “should,” “will,” “may,” “forecast,”
“approximate,” “expect,” “project,” “intend,” “plan,” “believe” and
other similar words. Forward-looking statements may relate to
expectations for future financial performance, business strategies
or expectations for Archaea’s business. Specifically,
forward-looking statements may include statements concerning market
conditions and trends, earnings, performance, strategies, prospects
and other aspects of Archaea’s business. Forward looking statements
are based on current expectations, estimates, projections, targets,
opinions and/or beliefs of Archaea, and such statements involve
known and unknown risks, uncertainties and other factors.
The risks and uncertainties that could cause those actual
results to differ materially from those expressed or implied by
these forward looking statements include, but are not limited to:
(a) the ability to recognize the anticipated benefits of the
business combinations and any transactions contemplated thereby,
which may be affected by, among other things, competition, the
ability of Archaea to grow and manage growth profitably and retain
its management and key employees; (b) the possibility that Archaea
may be adversely affected by other economic, business and/or
competitive factors; (c) Archaea’s ability to develop and operate
new projects; (d) the reduction or elimination of government
economic incentives to the renewable energy market; (e) delays in
acquisition, financing, construction and development of new
projects; (f) the length of development cycles for new projects,
including the design and construction processes for Archaea’s
projects; (g) Archaea’s ability to identify suitable locations for
new projects; (h) Archaea’s dependence on landfill operators; (i)
existing regulations and changes to regulations and policies that
affect Archaea’s operations; (j) decline in public acceptance and
support of renewable energy development and projects; (k) demand
for renewable energy not being sustained; (l) impacts of climate
change, changing weather patterns and conditions, and natural
disasters; (m) the ability to secure necessary governmental and
regulatory approvals; (n) the Company’s expansion into new business
lines; and (o) other risks and uncertainties indicated in the
Registration Statement on Form S-1 (File No. 333-260094),
originally filed by Archaea with the SEC on October 6, 2021, as
subsequently amended on October 18, 2021 and declared effective by
the SEC on October 21, 2021, including those under “Risk Factors”
therein, and other documents filed or to be filed with the SEC by
Archaea.
Accordingly, forward-looking statements should not be relied
upon as representing Archaea’s views as of any subsequent date.
Archaea does not undertake any obligation to update forward-looking
statements to reflect events or circumstances after the date they
were made, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
laws.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211228005146/en/
Megan Light mlight@archaea.energy 346-439-7589
Archaea Energy (NYSE:LFG)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Archaea Energy (NYSE:LFG)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024