Avolta Renewable Holdings
In February 2022, ECP committed to invest into Avolta Renewable Holdings, LLC (“Avolta”), a newly formed joint venture by ECP and Avolta, LLC, a leading developer of renewable natural gas (“RNG”) projects. In addition, ECP committed to invest in Nacelle Logistics, LLC (“Nacelle”), a complementary leading provider of RNG O&M and gas conditioning services led by the same management team as Avolta. Avolta is a natural continuation of our market leading presence across the energy transition value chain.
As an early mover in the burgeoning RNG space, Avolta’s RNG development pipeline is focused on a series of livestock dairy projects throughout the United States that capture harmful methane emissions from large dairy farms. Avolta will develop anaerobic digestion (the process to convert waste to biogas) facilities and gas upgrading systems that capture biogas from some of the largest dairy farms in the country and convert that biogas into pipeline specification RNG. Given the enormous environmental benefits of capturing methane, Avolta’s renewable natural gas will also qualify for attractive renewable credits under the federal renewable fuel standard program and the California Low Carbon Fuel Standard program.
The Avolta management team also runs Nacelle, a complimentary and synergistic business which provides RNG O&M services and gas upgrading services to various RNG and traditional energy customers. ECP plans to continue to grow Nacelle rapidly, as demand for RNG O&M services has soared while traditional energy players are looking to switch to natural gas upgrading services from diesel fuel to help achieve internally focused ESG goals.