Marathon Capital, LLC (“Marathon Capital”) is pleased to announce Global Common Energy (“GCE”) has entered into a joint venture with UGI Energy Services (“UGIES”), a subsidiary of UGI Corporation (NYSE: UGI) to form Cayuga RNG Holdings, LLC (“Cayuga RNG”). Cayuga RNG will develop dairy farm digester projects to produce renewable natural gas (“RNG”) in upstate New York. Marathon Capital acted as exclusive financial advisor to GCE on the transaction.
Marathon Capital worked with Global Common to identify a long-term partner for its RNG development business in upstate New York.
GCE, based in Garden City, New York, designs, develops, owns, and operates renewable and fossil-fueled power plants, microgrids, on-site generation projects, and large-scale anaerobic digestion projects that produce RNG and organic based soil amendments. GCE energy projects include a 54 MW peaking power plant, two 12.5 MW biomass power plants, an anaerobic digester/co-generation facility, a 150,000 ton per year wood pellet plant, and ethanol plants, among others.
Cayuga RNG’s first project will be developed at the Spruce Haven Farm (“Spruce Haven”), located in the Finger Lakes region of Cayuga County, New York. The proposed project is expected to be completed in the second half of calendar year 2022 and will upgrade the biogas to produce an expected 50 million cubic feet of RNG each year from on-site dairy waste feedstock.
“We are very excited about our new RNG venture with UGIES. Marathon Capital was great to work with, and we really appreciate their help in arranging this partnership.” – Robert Foxen, CEO of Global Common.
“Marathon Capital is pleased to have worked with GCE to assist in the successful joint venture with UGIES that will advance the development of GCE’s RNG projects into operation. We wish both parties a successful long-term relationship.” – Gary Greenblatt, Senior Managing Director & Co-head of NYC, Marathon Capital
GHI, a wholly owned subsidiary of UGIES, will be the exclusive off-taker and marketer of RNG for Cayuga RNG.
The RNG supply will be delivered to a local natural gas pipeline serving its regional distribution system. Cayuga RNG is in the process of developing other dairy digesters in Cayuga County and upstate New York.
About UGI Corporation:
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the Mid-Atlantic region of the United States, California, and the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com
GCE develops profitable solutions for our partners and planet. GCE designs, develops, owns and operates various energy projects, including utility scale power plants, renewable fuels projects, microgrids, and on-site generation projects. GCE establishes Strategic Energy Partnerships with our clients to design and implement energy projects that meet their business objectives. GCE has a broad range of experience in all aspects of energy project design, development and financing. GCE has performed innovative feasibility studies and project design; negotiated project agreements needed to enable financing, including complex power purchase agreements (PPAs); engineering, procurement, and construction (EPC) contracts; fuel supply agreements; and secured complex environmental permits in challenging regulatory environments. GCE also has extensive experience developing financial models and securing project financing.
Comprehensive information about GCE is available on the Internet at http://globalcommon.com/
About Spruce Haven Farm:
Spruce Haven, a family farm founded in 1987 by Doug and Janet Young, along with Janet’s father, Dave Camp, and currently operates with nearly 2,000 cows and 1,700 heifers. Two of the Young’s sons, Luke and Dustin, are managers and members of Spruce Haven, as well as Jason and Alisha Koch. Jason Koch is dairy operations manager. Spruce Haven is thankful to have highly competent and long-term employees.
Spruce Haven works toward responsible and sustainable farming, acting as a research and development center for the dairy industry. The research at Spruce Haven Farm has contributed to products improving dairy performance globally. Currently launching Cowffee, a whole milk-based beverage high in CLA, Spruce Haven believes naturally produced CLA has the potential to reduce cancer, heart disease, obesity, diabetes, dementia while improving immunity in humans based on results in animal studies. Spruce Haven installed a lower-cost anaerobic digester to reduce climate impact. To address holistic opportunities by utilizing the plant food resulting from digestate, its nutrient boom field distributor was patented to increase crop yields while better utilizing nitrogen and phosphorus and reducing climate impact. Spruce Haven also works to improve the lives of its employees and families both in their neighborhood and in Guatemala.
See their website http://pursuehappiness.farm for details of their goals and progress.