CANONSBURG, Pa.–(Small business WIRE)–Archaea Electricity LLC (“Archaea” or “the Company”), an rising chief in the advancement of renewable all-natural gas (“RNG”) in the U.S., announced right now various essential appointments to its leadership and management groups as nicely as the latest working highlights.
Archaea just lately appointed numerous new management and administration group associates as it prepares to come to be a publicly-traded company by a company mixture with Aria Electrical power LLC (“Aria”) and Rice Acquisition Company (“RAC”). These latest additions include things like Derek Kramer as Chief Know-how Officer (“CTO”), Lindsay Ellis as General Counsel and Company Secretary (“GC”), Chad Bellah as Chief Accounting Officer (“CAO”), Megan Light-weight as Vice President of Trader Relations and Campbell Stetter as Vice President of Finance. The small business combination is predicted to shut in the third quarter of 2021 and the put together corporation, which will be termed Archaea Vitality, plans to be listed on the New York Inventory Exchange beneath the ticker symbol “LFG.”
“To assistance and advance the company’s progress trajectory as we go on the integration with Aria and changeover to getting to be a publicly-traded business, I am happy to welcome Chad, Derek, Lindsay, Campbell, and Megan to management positions within just our staff,” mentioned Nick Stork, co-founder and CEO of Archaea. “We keep on to attract best-level expertise and this group is a great example of that. We definitely believe that the talent and working experience amount of our staff is unrivaled in the place.”
As CTO, Derek Kramer will be dependable for Archaea’s inside and external engineering strategy and operations. Mr. Kramer has intensive executive practical experience applying innovative programs and platforms to leverage facts and technological innovation to push business enterprise functionality and optimization, both of those as a guide and in-household for a wide range of businesses, including huge publicly-traded corporations this sort of as American Electric Electric power and Pacific Fuel & Electric.
As GC, Lindsay Ellis will direct the Company’s authorized and risk management capabilities. Mrs. Ellis has substantial expertise as strategic-concentrated in-residence counsel at EagleClaw Midstream and Rice Vitality Inc. and well as useful knowledge at Gibson, Dunn & Crutcher LLP and Vinson & Elkins L.L.P. Mrs. Ellis provides a prosperity of expertise in mergers and acquisitions, funds marketplaces and securities, company governance and SEC company issues.
As CAO, Chad Bellah will oversee the accounting techniques of the Organization. Mr. Bellah has working experience advising Fortune 500 companies with advanced accounting requirements and delivering accountable and strategic accounting techniques to guidance short and very long-time period enterprise goals. Mr. Bellah used 13 years at Anadarko Petroleum Company in a variety of accounting roles, together with most a short while ago leading accounting analysis and policy. Also, Mr. Bellah started out his accounting vocation as an audit supervisor at Ernst & Young.
As Vice President of Investor Relations, Megan Light-weight will lead interactions with the investment decision community and analysis analysts. Ms. Light has encounter in finance and investor relations throughout many electrical power sectors and joins the Firm from an trader relations role at Cheniere Electricity, Inc., the second-biggest international operator of purely natural gas liquefaction capability.
As Vice President of Finance, Campbell Stetter will be responsible for leading a wide variety of initiatives within just finance and company advancement for the Firm. Mr. Stetter has hugely beneficial electrical power finance experience such as investment banking, personal equity, and corporate finance experience and joins the Corporation from PetroLegacy Vitality, a privately-owned E&P business.
Archaea also highlighted current operating updates for the mixed enterprise, such as:
- Manufactured RNG volumes of 1.18 million MMBtu for very first quarter 2021, which lessens web CO2e emissions by more than 62,000 metric tons when displacing regular purely natural gasoline. This total of methane is equivalent to close to 1.7 million metric tons of CO2e emissions if unveiled.
- Correctly commissioned the significant-BTU RNG plant at the Boyd County landfill in Kentucky in April and positioned the project into company on routine and less than spending budget just after acquiring the task from a further developer in November 2020.
- Progressed construction on Task Assai at the Keystone Sanitary landfill in Pennsylvania, which on completion of construction is envisioned to be the world’s most significant high-BTU RNG plant. Task Assai stays on timetable for start-up by the initial quarter of 2022.
- Completed the acquisition of PEI Energy LLC, a landfill gas (“LFG”) combustion power creating facility with a put together capability of about 70 MW, in April.
- All main equipment has been delivered for the initially of 4 Mavrix dairy digester jobs in central California scheduled for commence-up in the third quarter of 2021.
- The enterprise blend of RAC, Archaea and Aria has obtained acceptance from the Federal Electricity Regulatory Commission (“FERC”), cleared the HSR anti-belief procedure, and remains on goal to shut in third quarter 2021.
On Friday, July 2, 2021, RAC refiled its preliminary proxy assertion with the Securities and Trade Commission (“SEC”), which is made up of information and facts regarding a number of the highlights talked about higher than, in addition to other updates for the put together company, including Q1 2021 facts1.
“We are delighted to supply our to start with quarterly disclosure for the blended corporation as an significant phase in our motivation to transparency with our stakeholders,” mentioned Nick Stork. “Our present-day concentration is on ensuring the improvement of our development plan as well as productive integration of Archaea and Aria teams and programs. We continue to see substantial possibilities to maximize economical returns and value to our stakeholders.
“We are centered on the progress and construction of key professional assignments, which include Job Assai, which upon completion will be supported by a portfolio of extensive-phrase fixed price tag contracts, enabling us to restrict profits volatility and offer predictable returns to shareholders although enabling our shoppers to realize their prolonged-expression environmental goals.
“Discussions for business enterprise enhancement and long-expression contractual offtake continue on to speed up, and we are seeing beneficial momentum in just about every single part of our enterprise as we do the job to leverage our experience and technological positive aspects. With our concentration on ongoing execution, we are reaffirming EBITDA steering for the put together corporation for entire yr 2021, which was previously unveiled in April 2021.
“I’d like to thank the workers from both Aria and Archaea for their continued difficult get the job done, which offers us excellent operational momentum heading into the expected merger near. We’re incredibly excited to start operating as one group and unlocking the worth likely of the combined enterprises.”
1. Details in the preliminary proxy statement is subject matter to alter, possibly materially, because of to SEC review or normally.
About Archaea Power LLC
Archaea Vitality LLC is an emerging leader in acquiring renewable purely natural fuel from high-carbon emission procedures and industries by capturing recurring emissions from food items waste, wastewater, agricultural squander and landfill fuel. Archaea builds, operates and manages RNG projects all over the full vitality life cycle and features off-just take companions the opportunity to acquire RNG from its portfolio of assignments below prolonged-term agreements. Archaea delivers pipeline-excellent RNG from coastline to coast utilizing existing pure gasoline infrastructure.
Extra information and facts is offered at www.archaeaenergy.com/.
Forward Wanting Statements
This press launch includes “forward looking statements” in the meaning of the “safe harbor” provisions of the United States Personal Securities Litigation Reform Act of 1995. Forward-wanting statements could be discovered by the use of phrases these kinds of as “may,” “might,” “will,” “would,” “could,” “should,” “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other equivalent expressions, despite the fact that not all ahead looking statements include such identifying text. All statements other than historical info are ahead on the lookout statements. Such statements include things like, but are not constrained to, statements relating to the company mixture sector situations and tendencies earnings, overall performance, procedures, prospective clients and other elements of the enterprises of RAC, Aria, Archaea and the put together company. Ahead hunting statements are primarily based on existing anticipations, estimates, projections, targets, thoughts and/or beliefs of Archaea, and these kinds of statements require identified and unknown hazards, uncertainties and other things.
The challenges and uncertainties that could cause people precise success to vary materially from those expressed or implied by these forward seeking statements consist of, but are not restricted to: (a) the occurrence of any party, transform or other instances that could give rise to the termination of the proposed enterprise blend and any transactions contemplated thereby (b) the ability to comprehensive the transactions contemplated by the proposed business enterprise blend thanks to the failure to obtain acceptance of the stockholders of RAC, or other problems to closing of the proposed company combination (c) the skill to satisfy NYSE’s listing criteria next the consummation of the transactions contemplated by the proposed small business combination (d) the risk that the proposed transactions disrupt recent designs and operations of Aria, Archaea or their subsidiaries as a outcome of the announcement and consummation of the transactions explained herein (e) the capability to figure out the expected added benefits of the proposed transactions, which may possibly be influenced by, amongst other things, competitors, the potential of the combined company to improve and deal with advancement profitably and retain its management and critical staff members (f) expenses similar to the proposed organization combination and relevant transactions (g) the chance that Aria or Archaea may possibly be adversely impacted by other economic, business enterprise, and/or competitive elements (h) the put together company’s ability to develop and run new initiatives (i) the reduction or elimination of governing administration economic incentives to the renewable electricity market place (j) delays in acquisition, financing, building and improvement of new projects (k) the duration of growth cycles for new jobs, together with the style and design and building procedures for the merged company’s assignments (l) the mixed company’s capacity to establish acceptable spots for new projects (m) the blended company’s dependence on landfill operators (n) existing regulations and changes to restrictions and insurance policies that result the put together company’s operations (o) decline in public acceptance and support of renewable vitality growth and projects (p) sustained demand for renewable electrical power (q) impacts of local climate change, switching weather patterns and situations, and normal disasters (r) the ability to safe needed governmental and regulatory approvals and (s) other risks and uncertainties indicated in the preliminary or definitive proxy assertion, which includes these beneath “Risk Elements” therein, and other files submitted or to be submitted with the SEC by RAC.
The foregoing record of variables is not unique. You need to not put undue reliance on any ahead hunting statements, which discuss only as of the date created. RAC, Aria, Archaea and the mixed company do not undertake or take any obligation or endeavor to update or revise the ahead searching statements set forth herein, regardless of whether as a consequence of new details, upcoming activities or usually, besides as may be demanded by legislation.
Vital Details about the Transaction and Where by to Locate It
In connection with the proposed business combination, RAC has filed a preliminary proxy statement and intends to file a definitive proxy assertion with the SEC. This push release does not consist of all the information and facts that should really be deemed concerning the proposed combination, and it is not intended to offer the basis for any financial investment determination or any other choice relating to the proposed mix. RAC’s stockholders and other interested individuals are encouraged to go through the preliminary proxy statement, the amendments thereto, and, when available, the definitive proxy statement and files integrated by reference therein submitted in relationship with the proposed mixture, as these resources will have significant information about the blended firm, RAC, Aria, Archaea and the proposed combination. When obtainable, the definitive proxy assertion will be mailed to the stockholders of RAC as of a file day to be recognized for voting on the proposed combination. Stockholders will also be capable to attain copies of the preliminary proxy assertion, the definitive proxy assertion and other documents submitted with the SEC that will be included by reference therein, with out cost, as soon as out there, at the SEC’s web page at http://www.sec.gov.
Participants in the Solicitation
RAC, Aria and Archaea and their respective administrators, govt officers and other employees may perhaps be deemed to be members in the solicitation of proxies of RAC’s stockholders in connection with the proposed organization mix. Details relating to the individuals who may well, less than SEC policies, be deemed members in the solicitation of RAC’s stockholders in link with the proposed combination, like their names and a description of their pursuits in the proposed blend, will be set forth in the proxy statement relating to this sort of transaction when it is filed with the SEC.
No Provide or Solicitation
This press release shall not represent a solicitation of a proxy, consent or authorization with regard to any securities or in regard of the proposed business mixture. This push release shall not constitute an give to offer or the solicitation of an supply to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which this sort of supply, solicitation or sale would be illegal prior to registration or qualification beneath the securities guidelines of these types of condition or jurisdiction. No presenting of securities shall be produced besides by signifies of a prospectus conference the demands of part 10 of the Securities Act of 1933, as amended.