Simpson Thacher is representing the IFM Net Zero Infrastructure Fund (“IFM NZIF”) of IFM Investors in connection with its definitive agreement to acquire a majority interest in GreenGasUSA Holdings LLC (“GreenGas”), a renewable natural gas (“RNG”) developer, owner and operator. The transaction is targeted to close this quarter, subject to customary regulatory and other closing conditions.
GreenGas is a fully integrated renewables platform headquartered in Charleston, South Carolina with a track record of originating, developing and operating RNG projects. GreenGas utilizes mature technologies to capture, purify and transport biogas from existing organic waste streams for its end use as pipeline quality RNG. CEO and Founder Marc Fetten will continue to lead GreenGas alongside the existing management team, with the benefit of long-term investment capital from IFM NZIF.
Launched by IFM in 2022, IFM NZIF is an open-ended fund targeting essential infrastructure assets that seek to accelerate the world’s transition to a net-zero emissions economy. GreenGas represents IFM NZIF’s first investment in the low carbon fuels sector, a core target sector for the fund.
The Simpson Thacher team includes Eli Hunt, Martha Kammoun, Abigail Xu and Tiye Traore (M&A); Jamin Koslowe, Kristy Fields and Megan Arrowsmith (Executive Compensation and Employee Benefits); Jonathan Goldstein and Andrew Mandelbaum (Tax); Chris Brown, Mark Haddox, Cem Islikci and Alexandra Cullen (Credit); Toby Chun and Noreen Lavan (Environmental); Jessica Cohen and Melanie Jolson (Intellectual Property); Krista McManus (Real Estate); Peter Guryan, Ross Ferguson, Kelly Karapetyan and Jamie Logie (Antitrust); and Steven DeLott (Insurance). Daniel Lee provided valuable assistance.