April 4, 2022 – Richmond, VA – Sparkstone Capital Advisors, LLC (“Sparkstone”) is pleased to announce the sale of an anaerobic digestion-to-renewable electricity project located in Johnston, Rhode Island. The facility processes nearly 100,000 short tons of organic food waste annually, avoiding its disposal in landfills and the resulting methane emissions from its decomposition. The facility sells the renewable electricity that it produces to National Grid under a long-term power purchase contract.
York Capital Management (“York”) owned the facility, and operated it through Entropy Investment Management (“Entropy”), a renewable energy focused affiliate. Anaergia was the buyer in the transaction. Sparkstone served as the exclusive financial advisor to York in this transaction.
York is an employee-owned hedge fund sponsor with over $800 million USD in assets under management. Founded in 1991, York invests in credit, private equity, and event-driven strategies.
Anaergia (TSX: ANRG) is a global leader in the production of clean energy, fertilizer, and recycled water from virtually any waste stream, offering the widest range of maximized resource recovery technologies for the municipal, industrial, commercial, and agricultural markets. Anaergia’s integrated resource recovery solutions create value for its customers in the forms of renewable natural gas, quality fertilizers, and clean water, while dramatically reducing the cost of waste management. Anaergia delivers integrated and global resource recovery solutions through established offices in North America, Europe, Africa, and Asia.
Sparkstone is a financial advisory firm focused on mergers, acquisitions, and capital raising in the energy and industrial sectors. It was founded in 2018 by three partners with decades of collective energy M&A experience. The firm’s goal is to provide independent and unbiased client service, execute transactions efficiently with senior-level bankers, and develop meaningful long-term relationships.