MIAMI--(BUSINESS WIRE)--Nopetro Energy’s growth into a powerhouse clean energy provider took a significant step forward as it has reached a new partnership with NOVA Infrastructure (NOVA), an infrastructure investment firm. Together, the two companies have created Nopetro Renewables, a clean energy platform focused on developing renewable energy infrastructure assets.
“Nopetro Renewables represents a new, bold approach to our legacy mission of creating cleaner, more cost-effective energy solutions. The core of our business is finding market-based solutions to environmental challenges and partnering with local governments and industry to make it happen,” said Nopetro Energy CEO Jorge Herrera.
Nopetro Renewables’ first major initiative will be the construction of a renewable natural gas (RNG) production plant in Indian River County that is part of an increasing trend towards decarbonization.
Over time, organic waste from landfills, farms, and other sources decay and release harmful gases into the environment. Nopetro Renewables’ strategy is simple – convert harmful gases from county, municipal and industrial waste facilities into environmentally safe energy.
The Indian River County RNG facility, one of the first of its kind in Florida, will collect harmful chemicals from landfill waste decomposition and convert them into a clean, safe and cost-effective energy source. From there, the RNG that is created is injected straight into pipelines for distribution across the country.
The model will work towards improving air quality in the South Florida region and reducing the state’s dependence on petroleum-based fuels. More than three million gallons of RNG will be produced at the facility per year, and clean fuel will be used to displace diesel in Florida’s heavy trucks and buses. Using RNG produced in Indian River instead of diesel will equate to taking more than 4,500 cars off the road and reducing nitrous oxide emissions by 90 percent.
Nopetro Energy was founded in 2007 with the goal of displacing petroleum consumption with cleaner, cost-effective, and domestic natural gas fuel. The company currently owns and/or operates 16 RNG fueling facilities, serving customers in local government, waste management and other industries.
The NOVA partnership is part of Nopetro Energy’s emergence as a leader in the decarbonization of the nation’s transportation and industrial sectors.
“By using these solutions, local governments and industry can benefit financially while creating multiple positive ESG benefits,” Herrera said.
ABOUT NOPETRO ENERGY
Founded in 2007, Nopetro Energy (www.nopetro.com) is a leading energy infrastructure company focused on pragmatic decarbonization through the production and distribution of renewable and liquefied natural gas. Nopetro owns and operates renewable natural gas (RNG) distribution facilities in Florida, and is the long-term energy partner to transit agencies, school districts, public works divisions and Fortune 500 companies. Nopetro Energy’s vision is building a better tomorrow – one that is transformational and positively redefines our future.
ABOUT NOVA INFRASTRUCTURE
Founded in 2018, NOVA Infrastructure (http://www.novainfra.com) is a value-added, middle market infrastructure investment firm focused on North America. NOVA seeks to make investments which pair the downside protection features of the infrastructure asset class with operationally focused, value-added upside strategies. NOVA targets investments in environmental services, transportation, energy / energy transition and communication sectors.