CIM Group to invest in an affiliate of MAS CanAm, the holding company for all of the Renewable Natural Gas (RNG) activities undertaken by MAS Energy, a privately held, Atlanta-based owner, developer, and operator of North American RNG production assets and biogas to power facilities.
CIM Group and CanAm will look to partner on investments in future RNG projects advancing CanAm’s position as a leading RNG platform in North America.
MAS Energy has significant experience in the biomethane-to-energy sector, having been involved in 21 projects since 2008. CanAm’s current operating portfolio consists of three facilities, including a 5,100 scfm RNG production facility at the City of Arlington Landfill. MAS Energy is developing additional projects that will be added to CanAm’s portfolio, a number of which have advanced to the construction phase.
“This marks a continuation of CIM Group’s almost 20-year program of significant green infrastructure investments particularly in the growing field of renewable energy,” said Avi Shemesh, co-founder and principal of CIM Group. “MAS Energy is at the forefront of RNG development in the United States, a sustainable green fuel that is a major contributor to decarbonization, a focus that is clearly aligned with CIM Group’s ESG commitment.”
Today, RNG is largely used by Compressed Natural Gas vehicles, which are typically heavy-duty commercial vehicles such as metro buses or waste collection trucks. The transition in the United States to renewable fuels, such as RNG, is supported on a Federal level by the Renewable Fuel Standard program and by various State-level programs, such as California’s Low Carbon Fuel Standard and Oregon’s Clean Fuels Program.
However, utilities and other thermal energy end users are increasingly turning to RNG as a method of reducing or eliminating their carbon footprint. A number of U.S. states and Canadian provinces have initiated RNG mandates to help utilities and thermal energy end users meet these goals.
“This transaction represents a great outcome for our investors and a significant milestone on our journey to be one of the largest RNG producers in North America” said Michael Hall, managing partner at MAS Energy. “CIM Group’s flexible approach and strong sector knowledge clearly differentiated them from their peers in what is becoming an increasingly competitive investor market.”
CIM Group brings experience in waste-to-value industries to MAS Energy. The company is a partner with Bolder Industries, a producer of sustainable plastic and rubber products created from used tires that would otherwise be landfilled.
Since its inception in 1994, CIM has focused on real estate and infrastructure projects that serve the needs of communities throughout the Americas and is committed to investing in sustainable assets. CIM is an UNPRI signatory and its infrastructure projects have been recognized for sustainability by the California Organized Investment Network, a division of the California Department of Insurance.
Marathon Capital, LLC acted as financial advisor to CanAm.
