Background:

In 2020, Meridiam acquired a 75% stake in New Energy One, an Idaho biogas facility. The Facility has been in operation since 2011, producing clean, renewable electricity from the anaerobic digestion of dairy manure that is delivered to the electric grid. As a second phase of the project, Meridiam undertook a significant upgrade of the facility to produce renewable natural gas (RNG) that will be marketed under the renewable fuel standard programs in the federal and California market. The anticipated RNG production will be distributed as renewable transportation fuel for commercial vehicles and is estimated to displace approximately 2,000,000 gallons of diesel per year (1).

Status:

In operation

ESG/SDG Key Facts:

The facility takes dairy cow waste and uses it to produce RNG. The digesters reduce the amount of manure returned to the environment. The waste from the process is split into a solid fraction and a liquid fraction. The liquid fraction is used by the dairy farm for irrigation to reduce the use of manure by 770 lbs per day (based on internal statistical analysis by the Project Company).

The waste process of over 240,000 gallons of dairy waste, in addition, reduces the odor from the farm, limiting the negative impacts on the local community and residents. Since taking over the facility in 2021, the facility is now processing twice as much cow manure (based on internal statistical analysis by the Project Company).

SDG 5 (Gender Equality)

Improving access to leadership opportunities for women. The project company, New Energy One, appointed a female President in 2024.

SDG 6 (Clean Water and Sanitation)

Reporting on water management and quality (e.g., water metering), as well as implementation of efficiency initiatives for water use on site are in place to improve water sustainability. In 2022, 99% of
the wastewater was recycled for onsite use.

SDG 12 (Responsible Consumption and Production)
The Asset uses waste to produce energy in a circular economy model. All byproducts from the processes are recycled and reused.

SDG 13 (Climate Action)

Annually, an estimated 1,920t CH4 (methane) is captured by the system that would be otherwise released in the atmosphere through land application.

Sources: (1) Company estimate

(2) As reported by portfolio company as part of annual SIMPL survey