EIV Money to Help ‘Scale and Execute Our Aggressive Growth Plans’
Amp Americas said yesterday that it’s secured a $47 million equity commitment from Houston-based EIV Capital, a private equity firm focused on the energy industry.
The money will benefit the AmpCNG network of compressed natural gas fueling outlets for heavy duty trucks, as well as the company’s activity in RNG/renewable natural gas.
“As an integrated clean energy company with production and distribution assets across the country, we wanted a partner with proven success in both the traditional and renewable energy sectors that could help us scale and execute our aggressive growth plans,” Amp Americas CEO Grant Zimmerman says in the equity release.
‘Fueling the Transformation’
“EIV Capital has an excellent track record growing energy businesses and will help us as we invest in new biogas production, new fueling stations, and in growing our team,” he said.
Amp Americas says that it’s “fueling the transformation of the nation’s heavy-duty trucking sector by providing clean, low cost natural gas and 100% renewable natural gas for vehicles.”
The company operates three business units:
- Renewable Dairy Fuels, which produces 100% renewable natural gas at its biogas facility at Fair Oaks Farms in Indiana
- AmpCNG, which owns and operates a nationwide network of 20 public-access, ultra-fast fill CNG fueling stations; and
- AmpRenew, which sources RNG for partner CNG stations and AmpCNG stations “and provides risk management to help fleets and station owners reduce risk and save money.
“By taking advantage of an abundant domestic fuel source, dairy waste, and converting it into valuable, clean, carbon-negative transportation fuel, Amp Americas is saving fleets money, improving air quality and reducing GHG/greenhouse gas emissions.”
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Source: Amp Americas with Fleets & Fuels follow-up