Brightmark LLC and Chevron have formed a joint venture, Brightmark RNG Holdings LLC, to own projects across the United States to produce and market dairy biomethane, a renewable natural gas (RNG).
Equity investments by each company in the new venture will fund construction of infrastructure and commercial operation of dairy biomethane projects in multiple states. Chevron will purchase RNG produced from these projects and market the volumes for use in vehicles operating on compressed natural gas.
Marathon Capital acted as exclusive financial advisor to Brightmark in establishing the partnership with Chevron.
This investment builds on our other RNG initiatives, such as our joint venture with California Bioenergy and our Adopt-a-Port initiative with Clean Energy Fuels. We are excited about the long-standing experience Brightmark has in this area and look forward to working with them and the opportunities ahead.—Andy Walz, president of Americas Products for Chevron
Brightmark is a global waste solutions company. The company takes a holistic, closed-loop, circular-economy approach, and delivers waste-to-energy solutions focused on plastics renewal (plastic waste-to-fuel) and renewable natural gas (organic waste-to-fuel).