Orix Corporation USA (Orix) announced the completion of an equity investment by its special opportunities group in three anaerobic digestion projects that are expected to convert more than 194 million gallons (734 million liters) of dairy manure annually into renewable natural gas (RNG). The projects are located in Iowa and South Dakota and were developed by Dynamic Renewables, a developer and operator of biofuel projects in the United States.
The three projects will produce usable RNG while reducing greenhouse gas emissions. The projects will be co-located with local dairy producers and are expected to remove 691,000 MMBtu of methane from the atmosphere each year. This investment follows the company’s 2021 investment in BC Organics Anaerobic Digestion Facility (BCO), a commercial biorefinery in Wisconsin that will serve multiple local dairy producers and is expected to remove 650,000 MMBtu of methane from the environment per year, after completion in late 2022.
“As a firm with an ongoing commitment to sustainability, biofuel projects are a great fit for us due to their important role removing methane from the atmosphere,” said Neil Winward, head of strategic solutions within Orix’s Special Opportunities group. “Orix Group is active in renewable energy globally, with a track record of strategic investments in solar, wind, and biofuel projects. With this transaction, as a follow-on to our BCO investment, we are continuing to leverage the expertise of our global renewables platform to increase our investment in the biofuel sector in the United States.”
In recent years Orix Group has made an investment in global renewable energy company, Elawan Energy S.L., as well as acquired a stake in India-based renewable energy company Greenko Energy Holdings.