Chevron is expanding its renewable natural gas production at five dairy farms in western Michigan through a $100 million tax-exempt bond. This initiative, in partnership with Brightmark RNG, aims to convert animal waste into renewable energy and reduce greenhouse gas emissions.
Chevron, the second-largest oil company in the United States, is intensifying its renewable energy initiatives by expanding renewable natural gas (RNG) production at five dairy farms in western Michigan. This project is in collaboration with Brightmark RNG, a waste solutions firm specializing in sustainable energy solutions.
Chevron has invested in anaerobic digesters at farms located in Greenville, Hartford, Morenci, Orleans, and Coopersville to convert animal waste into renewable fuels. These advanced facilities capture manure and transform it into renewable natural gas, fertilizer, and water, which are then recycled into agricultural and energy systems. This initiative aligns with Chevron’s broader commitment to sustainable energy production and waste reduction.
To finance this ambitious project, Chevron secured a $100 million tax-exempt bond, which was approved by the Michigan Strategic Fund during its board meeting on October 22. Bank of America will serve as the underwriter for the bond. The total cost of the project is estimated at $135 million and is expected to span five years, with the funds primarily used to reimburse costs incurred thus far.
Once operational, the anaerobic digesters are projected to reduce greenhouse gas emissions by approximately 135,000 tons of carbon dioxide annually. This project not only contributes to reducing the environmental impact of dairy farming but also enhances the sustainability of energy systems in Michigan.
Additionally, the Michigan Strategic Fund has also approved a $235 million bond for BerQ, another developer of renewable natural gas, which will fund four RNG facilities throughout the state. These projects are anticipated to be operational by the end of 2025, further contributing to Michigan’s efforts in mitigating greenhouse gas emissions.
Chevron and Brightmark’s collaboration in renewable natural gas production is part of a larger initiative spanning 11 states, reflecting the company’s commitment to advancing environmental sustainability and renewable energy solutions.
