RNG producer Archea Energy close to output goal
Landfill-gas generator Archea Energy said November 15 that it was close to its target for production of renewable natural gas (RNG) for the whole of 2021.
Archea, which has headquarters in Houston, said it produced the equivalent of 4.2bn Btu of RNG in the nine-month period ending September 30. The company said in its report for the third quarter that it set production guidance at approximately 5.4bn Btu for the year
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RNG can be sourced from farm manure or the decomposition of organic matter in landfills. If it can utilise that source, which for landfills is comprised of about 50% methane, the company estimated it would have a similar environmental benefit as electrifying about three quarters of the US passenger vehicles on the road.
Archea, known formerly as Rice Acquisition, combined with fellow RNG producer Aria Energy in August. The pair committed to spending $133mn on a new RNG facility in Pennsylvania dubbed Project Assai. That facility is expected online during the first quarter of 2022.
"On project development, the excellent progress on Project Assai reinforces our confidence in developing our backlog of RNG projects on time and on budget,” Archea CEO Nick Stork said.
The company reported a net loss for the third quarter of $21.8mn.