BAES Infrastructure, an entity created last year by Buckeye Partners to hold diverse energy interests, has folded, according to multiple sources familiar with the matter.
Employees at BAES had largely transferred over from IFM Investors-backed Buckeye, one of the largest midstream firms in the U.S. Those employees have either been let go or brought back into Buckeye, according to LinkedIn.
The BAES website (baesinfra.com) now redirects to Buckeye.
A Buckeye representative declined to comment.
Meanwhile, one of the energy transition companies placed into BAES was Bear Head Energy, a large-scale green hydrogen/ammonia project in Nova Scotia that was given environmental approvals in April, 2023.
Bear Head Energy staff has been reduced and the project is for sale, according to a source familiar with the matter. Nearby green hydrogen developers or other parties interested in purchasing the land could be potential buyers.
Originally an LNG project, Bear Head was acquired by Buckeye in 2022. It was permitted for up to 2 GW of electrolyzers able to produce 350,000 tonnes per year of hydrogen and 2 million tonnes per year of ammonia.
Messages to Bear Head representatives were not returned.
BAES was launched in March 2023 with a portfolio including Bear Head, hydrogen refueling business OneH2, and an unnamed low-carbon hydrogen and ammonia project in South Texas. Renewable energy developer Swift Current Energy was also part of the platform.
The Buckeye website now lists Bear Head, OneH2, and Swift Current under the heading “Buckeye Alternative Energy.” It does not list a South Texas hydrogen/ammonia project.
