Warburg Pincus-backed Viridi Energy Appoints CEO and CFO to Build Out Leading Energy Platform Focused on Renewable Natural Gas

October 06, 2022 06:30 AM Eastern Daylight Time

NEW YORK--(BUSINESS WIRE)--Viridi Energy ("Viridi"), a renewable natural gas ("RNG") company that launched earlier this year with the backing of Warburg Pincus and Green Rock Energy Partners, has appointed Dan Crouse as Chief Executive Officer to guide the firm as it builds a leading energy platform of scale for developing RNG from landfill, dairy, and food waste feedstocks.

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Crouse, with a long, successful career in renewable natural gas, heads up a veteran team with more than 75 years of combined experience developing and operating energy assets. He joins Viridi, which expects to break ground on several RNG development assets during the remainder of 2022, from Air Liquide, where he served as CEO of Air Liquide Advanced Technologies U.S. In that role, he oversaw all the firm's RNG operations in the Americas. Crouse also brings experience from Keystone Renewable Energy, a closely held business focused on Biogas development where he was CEO.

"Viridi is in the unique position of helping to guide the transition away from higher-emission fuel by developing RNG in an environmentally and cost-friendly manner," said Dan Crouse. "I can't think of a more experienced and talented team of energy leaders, with the expertise to work across all parts of the RNG value chain, than ours."

With Crouse's appointment, Andy Kelleher, who led Viridi in its inception, becomes executive chairman, as planned. In that role, Kelleher, who also serves as Managing Partner of Green Rock Energy Partners, will continue to help lead Viridi, along with other members of the founding management team.

Joining that management team will be Matthew Innamorati_, who was appointed Viridi's Chief Financial Officer. Innamorati comes to Viridi from Mettle Midstream Partners, where he was co-founding partner and Chief Executive Officer of the Pearl Energy and NGP-backed company that offers midstream infrastructure services to energy companies throughout North America._

Crouse and Innamorati round out Viridi's management team, which already includes President Chet Benham, Executive Vice President (EVP) of Operations Matt Atkins, EVP of Origination Jake Crouse, EVP of Development Dana Husnay, and EVP of Strategy and Marketing Bill Keller.

Viridi launched earlier this year with an approximately $320 million line of equity commitment led by Warburg Pincus, a leading global growth investor. The investment will allow Viridi to create a leading energy platform, at scale.

"Viridi is led by a management team that are pioneers in the RNG industry. With the addition of Daniel and Matthew, we are confident this talented group is exactly what's needed to create a leading platform in the RNG space that will help facilitate the transition to a lower-emission future," said Roy Ben-Dor, Managing Director, Warburg Pincus.

Warburg Pincus, which has indicated that it is prepared to invest significant capital to create a leading platform in the RNG space, has a strong track record of investing in companies committed to the growth of Environmental, Sustainability, and Governance ("ESG") best practices across all sectors, including low-carbon opportunities. Notable energy transition investments include ClimeCo, Eco Material Technologies, Gradiant, Monolith, Montana Renewables, Scale Microgrid Solutions, and Solar Mosaic.

Viridi is currently developing multiple projects across the food waste, agricultural waste, and landfill gas sectors.

About Viridi RNG

Viridi RNG is a full-service renewable natural gas ("RNG") platform founded by a veteran renewable natural gas management team. The company is developing a platform to build, own and operate RNG assets with landfill, dairy, and food waste feedstocks across North America. For more information, please visit www.viridirng.com.

About Warburg Pincus

Warburg Pincus LLC is a leading global growth investor. The firm has more than $85 billion in assets under management. The firm's active portfolio of more than 250 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 21 private equity and 2 real estate funds, which have invested more than $106 billion in over 1,000 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.

About Green Rock Energy Partners

Green Rock Energy Partners LLC is a sustainable infrastructure-focused private equity firm which invests in renewable energy companies and projects. Green Rock's investments primarily target waste-to-value energy assets within the circular economy, which play a critical role in the ongoing energy transition to a low-carbon future. The firm deploys equity capital to develop, purchase, and operate environmentally responsible and financially attractive businesses and infrastructure. The projects that Green Rock targets for investment produce renewable natural gas, renewable diesel, renewable fertilizer, and other similar products. The firm was founded by a team of commodities executives who source, structure, and negotiate opportunities to build successful businesses using their expertise as owners and operators. For more information, please visit www.greenrockep.com. Follow us on LinkedIn.