Archaea Energy Inc Stock Price, News & Analysis

Archaea Energy Inc. (NYSE: LFG) has announced an expanded long-term partnership with FortisBC Energy Inc. (NYSE: FTS) to supply up to 8 million gigajoules (approximately 7.6 million MMBtu) of renewable natural gas (RNG) annually, starting in 2022 and scaling to full capacity by 2025. This agreement, pending regulatory approval, marks Archaea’s largest RNG supply contract to date and supports FortisBC's goal of 15% renewable natural gas by 2030. Archaea aims to leverage its extensive RNG project portfolio to meet growing demand for low-carbon energy solutions.

Archaea Energy Inc. (NYSE: LFG) has successfully launched Project Assai, the world's largest renewable natural gas (RNG) facility located in Dunmore, Pennsylvania. The facility, completed in under two years, has an inlet capacity of 22,500 scfm and is expected to produce over 4 million MMBtu of RNG annually, generating projected EBITDA of over $40 million. The project will significantly reduce CO₂ emissions by over 200,000 metric tons each year. Approximately 80% of RNG produced will be contracted through long-term agreements of up to 20 years.

Archaea Energy Inc. (NYSE: LFG) has successfully eliminated all 12.1 million of its redeemable warrants through a redemption process. The exercise of 9.4 million of these warrants generated $108 million, which was used to repurchase 6.1 million shares of Class A Common Stock from Ares at $17.65 per share. The net result is the issuance of 4.2 million LFG shares while reducing Ares' ownership to 14.9 million shares. This transaction creates a step-up in tax basis at the Up-C OpCo, expected to yield approximately $20 million in future cash tax savings.

Archaea Energy Inc. (NYSE: LFG) announced its third quarter 2021 financial results following its business combination with Aria Energy LLC. The company reported a net loss of $21.9 million over three months, contrasting with a net income of $52.7 million for the nine-month period. Combined RNG production reached 1.43 million MMBtu, with full-year guidance for RNG production set at approximately 5.4 million MMBtu. Archaea has also partnered with NW Natural for a 21-year RNG agreement, enhancing its market position and demonstrating confidence in future growth as it moves toward operational completion of its Project Assai facility.

Archaea Energy (NYSE: LFG) announced a long-term RNG purchase agreement with Northwest Natural Gas Company (NYSE: NWN) for up to 1 million MMBtu of renewable natural gas annually, starting in early 2022, with full delivery by 2025. This contract is part of NW Natural's commitment to sustainability, aiming for carbon neutrality. The agreement is a significant milestone, affirming Archaea's role in the renewable energy sector and NW Natural's efforts towards reducing methane emissions. The contracts are aligned with Oregon's Senate Bill 98, targeting renewable energy procurement.

Archaea Energy Inc. (NYSE: LFG) will redeem all publicly held Redeemable Warrants to purchase Class A common stock on December 6, 2021, for $0.10 per warrant. The Company can redeem the 12.1 million outstanding warrants if the Class A stock price was at least $10.00 prior to the notice date. Holders may exercise warrants until 5:00 p.m. EST on the Redemption Date at an exercise price of $11.50 or on a cashless basis. Unexercised warrants will be void post-deadline. The Company aims to use proceeds from exercises to repurchase shares to minimize shareholder dilution.

Archaea Energy Inc. (NYSE: LFG) announced the release of its third quarter 2021 financial results on November 15, 2021, after market close. A conference call is scheduled for November 16, 2021, at 11:00 a.m. ET to discuss these results. Archaea is recognized as one of the largest RNG producers in the U.S., focusing on developing facilities that convert waste emissions into low carbon fuel through innovative technology. This strategy aims to provide sustainable solutions to displace fossil fuels in high-emission industries.

Archaea Energy Inc. has announced the successful completion of its merger with Aria Energy LLC, creating a leading renewable natural gas (RNG) platform. Following the merger, Archaea's Class A common stock will begin trading on the NYSE under the ticker 'LFG' starting September 16, 2021. The merger was overwhelmingly approved by over 99% of shareholders, and the transaction involved approximately $237 million in cash, $220 million in corporate debt, and $300 million from a PIPE investment. The funds will support Archaea's growth and project development initiatives.