February 1, 2022 – Richmond, VA – Sparkstone Capital Advisors, LLC (“Sparkstone”) is pleased to announce the sale of four landfill gas-to-electricity projects located throughout various regions of the United States.  The projects are divestments from JL-Evensol, LLC’s (“JLE”) portfolio of renewable energy projects.  The facilities have a total 10.2 MWs of installed capacity and operate under long-term power purchase agreements (“PPA”). JLE owned and operated the facilities and sold them to Archaea Energy, LLC (“Archaea”) for an undisclosed purchase price. Sparkstone served as the exclusive financial advisor to JLE in this transaction.

JLE is owned by a group of investors led by First Alaskan Capital Partners, LLC (“First Alaskan”), a private investment firm in Anchorage, Alaska. The company was formed for the purpose of acquiring and developing alternative energy facilities across the country.  First Alaskan’s principals share more than 25 years of experience in investments, including some of the most successful Alaska Native corporations.  Collectively, First Alaskan has led transactions totaling well in excess of $3 billion.  

Archaea (NYSE:LFG) is one of the largest producers of renewable natural gas (“RNG”) in the United States. The company engages in developing, constructing, and operating RNG facilities to capture waste emissions and convert them into low carbon fuel.  It operates a portfolio of RNG and landfill gas projects.  The company has its headquarters in Houston, TX, and over 25+ project locations nationwide.  Archaea’s market capitalization was $1.9 billion as of February 21st , 2022.   

Sparkstone is a financial advisory firm focused on mergers, acquisitions, and capital raising in the energy and industrial sectors. It is a division of Frontier Solutions, LLC which is a member of FINRA/SIPC. Sparkstone 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.