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
-
Three Industry Giants Just Aligned on Ammonia
Inside This Issue ⚓ CF Industries, Trafigura And TFG Marine Sign MOU To Advance Low-Carbon Ammonia For Maritime Decarbonisation 🌽 EPA Expects to Finalize 2026-27 Biofuel Blending Rules in Q1 2026 ...
-
What Drillers Hit 140km South of Saskatoon
Inside This Issue 🌱 Indigo to Sell 2.85 Million Tonnes of Carbon Removal to Microsoft, Supporting Soil Health Through Regenerative Agriculture 🏛️ Legislation Would Give Parishes Control Over Carbo...
-
This $475M Indiana Plant Turns Petcoke Into Clean Fuel
Inside This Issue 🏗️ This $475M Indiana Plant Turns Petcoke Into Clean Fuel 🏛️ Buckeye Gives Final Support to Rezone Nikola Property for Hydrogen Huba 🧪 CHARBONE Secures its First Order for Clean ...
Company Announcements
-
Ammobia Raises $7.5M To Scale Low-Cost Ammonia Production Technology Critical To Energy Resilience
Shell Ventures, Air Liquide, MOL Switch, and Chevron Technology Ventures back breakthrough poised to deliver 2x cost reduction for global ammonia producers SAN FRANCISCO, Jan. 14, 2026 (GLOBE NEWS...
-
Legislation Would Give Parishes Control Over Carbon Capture
(The Center Square) – Louisiana parishes would have a say in how carbon capture and sequestration projects are approved and developed in their jurisdictions under bills filed by Rep. Mike Johnson, ...
-
Alabama County Opposes Massive Carbon Pipeline Project
An aerial shot of timberland behind Wesley Laird's farm near Florala, Ala. Reliant Carbon Capture & Storage, a Colorado-based carbon capture firm, has proposed using 74,000 acres of timberland ...
-
Trafigura Signs Offtake Agreement for Advanced Sustainable Aviation Fuel Produced From Biogas
Geneva, 20 January 2026 – Trafigura Pte Ltd ("Trafigura"), a market leader in the global commodities industry, has signed a binding six-year offtake agreement with SP Developments Uruguay S.A. (“Sy...