Viridi Energy ("Viridi"), a portfolio company of Warburg Pincus and Green Rock Energy Partners, today announced the successful closing of a structured equity investment by HASI into Viridi's Marathon landfill gas ("LFG") to renewable natural gas ("RNG") project. This is HASI's third investment into Viridi's portfolio and highlights their continued strategic partnership.
"Viridi is excited to expand its partnership with HASI through a structured equity investment which accelerates capital to Viridi and provides liquidity for continued project development," said Dan Crouse, CEO of Viridi Energy.
The Marathon facility is projected to produce renewable natural gas equivalent to powering approximately 5,800 homes each year and reducing the carbon emissions equivalent of 18,400 tons annually. By capturing and utilizing landfill gas that would otherwise be emitted into the atmosphere, the project delivers meaningful environmental benefits alongside reliable energy production.
"This transaction reflects the hard work and dedication of an exceptional group of partners. We thank everyone involved for their diligence, responsiveness, and focus on execution, which allowed us to meet key deadlines and bring this investment to a successful close," said David Barry, CFO of Viridi Energy.
Viridi was advised by CRC as financial advisor, and Sidley Austin LLP and Kirkland & Ellis LLP served as legal counsel for the transaction.
This structured equity financing reinforces Viridi's commitment to deploying flexible, innovative capital solutions to accelerate the growth of sustainable energy assets across the United States.
About Viridi Energy
Viridi Energy is a full-service renewable natural gas investor, operator, and partner founded by a veteran RNG management team. With the backing of Warburg Pincus and Green Rock Energy Partners, the firm's platform builds, owns, and operates RNG assets with landfill, dairy, wastewater, and food waste feedstocks across North America. For more information, please visit www.viridirng.com. Follow Viridi Energy on LinkedIn.
About Warburg Pincus
Warburg Pincus LLC is the pioneer of global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $100 billion in assets under management, and more than 215 companies in its active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,100 companies across its private equity, real estate, and capital solutions strategies.
The firm is headquartered in New York with more than 15 offices globally. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.
Contacts
Corina Sheridan
EVP, Business Development
Corina.Sheridan@viridirng.com
727.459.3197
