April 8, 2021. Archaea Energy LLC, an emerging leader in the development and advancement of renewable natural gas (RNG), announced an agreement to enter into a business combination with Aria Energy LLC led by Rice Acquisition Corporation, a special purpose acquisition company focused on the energy transition sector. The business combination with Archaea and Aria, one of the largest companies in the North American landfill gas (LFG) sector, will create the leading U.S. RNG platform. The combined company, which will be called Archaea Energy, will be dedicated to reducing carbon emissions through landfill gas conversion, CO2 sequestration, and green hydrogen.
“Archaea was founded to create green energy from methane produced through anaerobic digestion, a greenhouse gas 25 times more harmful than carbon dioxide,” said Nicholas Stork, Archaea Co-Founder and Chief Executive Officer. “We are on a trajectory to become a leading RNG platform in North America, serving our decarbonization partners under long-term supply agreements. Our mission is to reduce the carbon intensity (CI) of vented and flared methane and empower corporations, universities, municipalities and utilities to meet their sustainability goals.”
60-70%+ of the combined Company’s RNG volumes will be contracted under fixed-price off-take arrangements with investment-grade customers to limit earnings volatility. Archaea currently has a higher indicated demand through its existing partnerships than the entire RNG production in the market today.
Archaea is led by an entrepreneurial team of new generation landfill owners and RNG technologists. To continue to lower the carbon intensity of its RNG, Archaea is developing CO2 sequestration and green hydrogen projects using its RNG as a feedstock resulting in negative CI scores.