October 5, 2022 – Richmond, VA – Sparkstone Capital Advisors, LLC (“Sparkstone”) is pleased to announce the sale of a renewable energy project located in Charlotte, North Carolina. The facility processes approximately 130,000 short tons of organic food waste annually, avoiding its disposal in a landfill.  It produces 5.2 megawatts of renewable electricity from biomethane generated through an anaerobic digestion process.  The facility sells this renewable electricity to Duke Energy Carolinas, LLC (“Duke”) under a long-term power purchase agreement.  

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, which closed in November 2021.

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 providing clean solutions for virtually any waste stream emanative for the municipal, industrial, commercial and agricultural markets.  The company uses its technology and expertise to transform organic waste to clean energy, clean water, high-quality fertilizer, and other recyclables.  Anaergia is headquartered in Burlington, Ontario.  It has offices in Asia, Europe, Middle East and Africa.  In 2021, the company generated over 143 million CAD in revenue.  

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. More information can be found at www.sparkstonecap.com.