Ares Management’s Infrastructure Opportunities strategy has made a strategic investment to acquire Burnham RNG, from Edge Natural Resources
Burnham is a full-service developer and owner of organic waste management and anaerobic digestion biogas assets across the US.
The investment from Ares, which has approximately $15.1bn in infrastructure equity and debt assets under management as of September 30, 2023, will support Burnham in the further development and construction of its broader pipeline of renewable natural gas assets.
The acquisition of Burnham follows Ares’ announcement of a strategic investment in Dynamic Renewables earlier this year and represents the group’s continued commitment to building scale in the waste-to-value space, supported by the development of strong projects diversified across feedstock type.
Founded in 2021, Burnham is a leading fully integrated origination, development, financing and asset management platform that provides waste recovery solutions focused on the wastewater and agricultural waste industries. The company is the developer and owner of the Pasco Resource Recovery Center (PRRC) located in Pasco, Washington.
PRRC is designed to treat an average of 4.4 million gallons of industrial wastewater sourced from six local food processors per day via anaerobic digestion and supplementary nitrogen reduction systems. After completion, the facility is expected to produce treated water for irrigation, as well as ~900 MMBtu/day of renewable natural gas. The asset has a 30-year wastewater treatment agreement with the City of Pasco and will sell produced RNG to Cascade Energy via a 20-year offtake agreement. In addition to PRRC, Burnham has a development pipeline comprised of several waste-to-biogas projects across the U.S.
Burnham is led by its Founder and Chief Executive Officer Chris Tynan, who has over two decades of experience in financing and developing infrastructure projects.
Akin Gump Strauss Hauer & Feld LLP served as legal counsel to Edge. Latham & Watkins LLP served as legal counsel to Ares.
