SAN RAMON, Calif. & SAN FRANCISCO--(BUSINESS WIRE)--Brightmark LLC and Chevron U.S.A. Inc. today announced the second expansion of their previously announced joint venture, Brightmark RNG Holdings LLC, to own projects across the United States to produce and market dairy biomethane, a renewable natural gas (RNG).
Brightmark RNG Holdings LLC’s subsidiaries currently own RNG 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 RNG 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.”
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.
About Brightmark
Brightmark is a global waste solutions company with a mission to reimagine waste. The company takes a holistic, closed loop, circular economy approach to tackling the planet’s most pressing environmental challenges with imagination and optimism for the future. Through the deployment of disruptive, breakthrough waste-to-energy solutions focused on plastics renewal (plastic waste-to-fuel) and renewable natural gas (organic waste-to-fuel), Brightmark enables programs specifically tailored to environmental needs in order to build scalable project solutions that have a positive impact on the world and communities in which its stakeholders live and work. For more information, visit www.brightmark.com.
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