Vision RNG Receives $207M for Ohio Landfill Gas Projects from HASI
Climate solutions investor HASI arranged $207 million in project financing for Vision RNG (VRNG), consisting of a $130 million construction facility and a $77 million investment tax credit bridge loan.
VRNG will use the funding to build facilities that convert landfill gas to renewable natural gas at landfills in Ohio operated by WIN Waste Innovations, a sustainable waste and recycling service provider.
“This funding enables us to continue moving forward with our ambitious plans to produce more renewable natural gas, ultimately reducing greenhouse gas emissions and supporting the transition to cleaner energy sources,” said Kevin Johnson, CFO at Vision RNG.
The projects will initially produce more than two million MMBtus of RNG per year. Vision RNG plans to double this output within 11 years, potentially making it one of the largest RNG projects in the U.S. The projects are expected to decrease the annual emission of approximately 120,000 tons of fossil-based carbon dioxide (CO₂), which is equivalent to more than 12 million gallons of gasoline or 250,000 barrels of oil each year.
Canonsburg, PA-based Vision RNG was founded in 2021 and is supported by sustainable real assets investor Vision Ridge Partners.