Greenhouse Gas Services Acquires StormFisher

Joanna Schroeder

Virgina-based Greenhouse Gas Services, a company that invests in and develops projects that reduce greenhouse gases, announced today that it has acquired Toronto-based StormFisher Ltd. StormFisher operates projects in North America focusing on turning food or agricultural byproducts into natural gas and electricity. As part of the deal, StormFisher investor Denham Capital is now an investor in Greenhouse Gas Services which is a GE AES venture.

Mauricio Vargas, CEO of Greenhouse Gas Services said of the transaction, “Adding the StormFisher team and its pipeline of shovel-ready biogas projects expands Greenhouse Gas Services’ business line and complements our carbon platform. As carbon and renewable energy policies continue to evolve, we see tremendous opportunity and growth for us in North America.”

The company anticipates breaking ground this year on its first biogas project, a 2.8-megawatt facility in London, Ontario that will convert more than 100,000 tonnes of organic materials from agri-food producers into renewable energy through anaerobic digestion. The electricity produced will be sold to the Ontario Power Authority.

“This deal brings together StormFisher’s project development expertise and pipeline of new opportunities with the carbon credit specialization of Greenhouse Gas Services,” said Bas van Berkel, President of StormFisher. “It represents the combination of two very entrepreneurial firms with the backing of multi-billion dollar companies.”

In addition to the project in Ontario, the company is currently developing other biogas facilities in Wisconsin and California, which are expected to be operational by the end of 2011.

biogas, Electricity, Energy, Utilities