bp Completes Acquisition of Archaea Energy
Published by Todd Bush on December 28, 2022
Today bp (NYSE: BP) completed its purchase of Archaea Energy Inc., (NYSE: LFG) a leading provider of renewable natural gas (RNG), marking a milestone in the growth of bp’s strategic bioenergy business.
>> In Other News: bp Accelerates and Expands in Bioenergy, Agreeing to Buy Leading US Biogas Company Archaea Energy
>> In Company Spotlight: BP PLC
“We see enormous opportunity to grow our bioenergy business by bringing Archaea fully into bp,” said Dave Lawler, chairman and president bp America. “The talent, expertise and passion of their team has let them achieve incredible growth so far, and we're excited to support the next chapter in line with our strategy.”
In October, bp announced it had agreed to acquire Archaea, subject to regulatory and Archaea shareholder approval. Having received those approvals and with the transaction complete, Archaea expands bp’s presence in the US biogas industry, enhancing its ability to support customers’ decarbonization goals and progressing its aim to reduce the average lifecycle carbon intensity of the energy products it sells.
Bioenergy is one of five strategic transition growth engines that bp intends to grow rapidly through this decade. bp expects investment into its transition growth businesses to reach more than 40% of its total annual capital expenditure by 2025, aiming to grow this to around 50% by 2030.
With the close of the agreement, Archaea common shares will cease to be listed on the NYSE.
Additional information on the acquisition can be found in the agreement announcement.
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Companies
Latest issues
-
Inside the Power Plant Conversion Everyone’s Arguing About
Inside This Issue ⚡ In Controversial Move, LADWP Says It Will Shift Its Largest Gas Power Plant to Hydrogen 🌎 NorthX Catalyzes the Rise of Canada's Carbon Removal Industry 🤝 Elemental Clean Fuels ...
-
What 10x Growth Means for Hydrogen’s Future
Inside This Issue 💧 Blue Hydrogen Just Won 2025: 10x More Than Green ✈️ Houston American Energy Advances Development of Sustainable Aviation Fuel ⛏️ Max Power Expands Natural Hydrogen Discovery Po...
-
Google's Power Play: First CCS Deal Reshapes Energy
Inside This Issue ⚡ Google's Power Play: First CCS Deal Reshapes Energy 🌎 True North Carbon's Tamarack Project, Canada's Largest Single-Technology Direct Air Capture Deployment, Achieves First Cap...
Company Announcements
-
Integrity Council Approves First Sustainable Agriculture Methodologies from CAR and Verra
The Integrity Council for the Voluntary Carbon Market (ICVCM) today announced that the following two sustainable agriculture methodologies have become CCP-Approved: Climate Action Reserve (CAR) –...
-
Canada Advances Energy Innovation with Major Investments in Carbon Technologies and AI Solutions
TORONTO, Oct. 29, 2025 /CNW/ - Canada is at a pivotal moment in history. Faced with global volatility, a changing environment, and an affordability crisis, it is clear that the conventional ways of...
-
AKRON, Ohio (BUSINESS WIRE) – Babcock & Wilcox (B&W) (NYSE: BW) announced today that it has been awarded a contract by Cache Power Corp. to execute an engineering study for Cache Power’s Ma...
-
Univar Solutions signs Letter of Intent to distribute CarbonFree’s endurocal®, a domestically produced calcium carbonate material derived from circular-sourced raw materials to industrial and consu...