Terreva Renewables raises $417 million to expand RNG platform
In California, US renewable natural gas projects developer Terreva Renewables, a portfolio company owned by infrastructure investor CIM Group, said it raised $417 million from corporate and institutional investors to support the expansion of its RNG platform.
CIM Group began investing in RNG in 2021 and formed Terreva in August 2022 to be a leading RNG platform in North America.
“Terreva is delivering on our expectations for the platform and, alongside our co-investors, we are expanding Terreva to meet the increasing interest from communities across the country seeking its expertise to develop and operate RNG facilities,” said Avi Shemesh, Co-Founder and Principal, CIM Group.
In January, Terreva completed its first RNG facility in Appleton, Wisconsin. Terreva has since commenced commercial operation on additional RNG facilities in Pennsylvania, Illinois, and Virginia. Each facility collects raw landfill methane gas and converts it into RNG to be used predominantly by large vehicle fleets running on compressed natural gas.
Category: Fuels
