Chevron expands renewable natural gas JV with Brightmark
Chevron U.S.A. Inc. is further expanding its joint venture with Brightmark LLC, Brightmark RNG Holdings LLC, to own projects across the United States to produce and market dairy biomethane, a renewable natural gas (RNG).
A subsidiary of U.S.-based energy major Chevron Corporation, Chevron U.S.A. oversees most of the parent company’s U.S. businesses. The company’s portfolio includes Chevron’s oil and gas exploration, production, and refining assets.
Brightmark, based in San Francisco, California, U.S.A., is transforming organic waste into renewable natural gas and creating innovative approaches to plastics renewal.
Brightmark RNG Holdings LLC’s subsidiaries currently own renewable natural gas projects in New York, Michigan, Florida, South Dakota and Arizona. Additional equity investments by each company in the joint venture will fund construction of infrastructure and commercial operation of 10 dairy biomethane projects, including new sites in Iowa and Wisconsin and additional sites in Michigan and South Dakota.
Chevron will purchase renewable natural gas produced from these projects and market the volumes for use in vehicles operating on compressed natural gas.
“This latest expansion with Brightmark advances our strategy of higher returns and lower carbon,” said Andy Walz, president of Chevron’s Americas Fuels & Lubricants. “Opportunities like these not only reaffirm our commitment to investing in ways that are good for the environment, our consumers and our stockholders, they also bolster our previously announced objective to increase RNG volumes tenfold by 2025 over 2020 volumes.”
“Brightmark’s expanded partnership with Chevron is another positive step forward in the decarbonization of the farming industry,” said Bob Powell, founder and chief executive officer of Brightmark. “Our carbon-negative projects are successfully reimagining waste and delivering significant environmental benefits while improving economics for our dairy farm partners. We look forward to executing on these new RNG projects with Chevron and partnering with dairy farmers to expand our RNG footprint across the country.”
Brightmark owns and operates 23 renewable natural gas projects across the United States, all of which have been launched in the past three years alone, making the company an emerging leader in the rapidly growing RNG industry.
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