Constellation and Pine Creek RNG Announce Equity Purchase Agreement in RNG Facilities

Leading provider of clean energy solutions in the U.S. enhances position with renewable natural gas acquisition

BALTIMORE--(BUSINESS WIRE)--Constellation (Nasdaq: CEG), the largest producer of clean energy in the U.S. and a leading supplier of energy products and services, and Pine Creek RNG, an independent developer, owner, and operator of renewable natural gas (RNG) production assets, today announced a long-term agreement that includes Constellation’s purchase of a minority equity interest in five operating Pine Creek RNG production facilities. The portfolio of facilities, located in Washington, Utah, Iowa and Illinois, currently produces approximately 1.5 million MMBtus of RNG per year, and the agreement creates the framework for Constellation and Pine Creek to develop approximately 3.0 million MMBtus annually of additional RNG production.

“This agreement reinforces Constellation’s long-term commitment to expanding sustainable natural gas solutions that help customers decarbonize without compromising reliability,” said Jim McHugh, Senior Executive Vice President and Chief Commercial Officer, Constellation. “Our ownership in these facilities and our ability to market the RNG production and environmental attributes will help Constellation more easily match supply to demand for gas decarbonization products that benefit our customers.”

“Our partnership with Constellation is a defining milestone for Pine Creek,” said Kevin Orchard, CEO of Pine Creek RNG. “This transaction reflects the strength of our team and industry partnerships. Aligning with Constellation’s industry-leading capabilities further supports our ability to execute at velocity and scale, and we look forward to the opportunities ahead.”

RNG is pipeline-quality natural gas derived from organic matter decomposition, known as biogas. Raw biogas is produced in various locations, including landfills, wastewater treatment plants, and industrial and agricultural waste digesters. After being purified, RNG is injected into an interstate pipeline and used like regular natural gas. It can also be used for on-site power consumption or fuel for fleet vehicles.

To learn more about Constellation’s products and services for customers, including RNG, visit Constellation.com.

To learn more about Pine Creek RNG, visit Pine Creek RNG.

About Constellation

Constellation Energy Corporation (Nasdaq: CEG), a Fortune 200 company headquartered in Baltimore, is the largest private-sector power producer in the world and the nation’s largest producer of clean and reliable energy. With 55 gigawatts of capacity from nuclear, natural gas, geothermal, hydro, wind and solar facilities, our fleet has the generating capacity to power the equivalent of 27 million homes, providing about 10% of the nation’s clean energy and delivering the around-the-clock reliability needed to power America’s growing economy. We are also the largest nuclear energy company in the U.S. and a leading competitive retail supplier, serving approximately 2.5 million customer accounts nationwide, including 80% of the Fortune 100. We are committed to investing in innovation and new technologies to drive the transition to a reliable, sustainable and secure energy future. Follow Constellation on LinkedIn and X.

About Pine Creek RNG

Pine Creek RNG, LLC (“Pine Creek”) is a division of Pine Creek Renewables. Headquartered in St. Petersburg, Florida, Pine Creek is a privately held independent developer, owner, and operator of Renewable Natural Gas (“RNG”) production facilities across the U.S. Pine Creek’s projects convert sources of raw biogas into low-carbon fuels. The company’s executive team is comprised of entrepreneurs and industry veterans with decades of experience in energy, technology, and innovation. Driven by a culture of collaboration and partnership, Pine Creek and its people are committed to creating value through positive environmental impact. For more information, please visit: www.pinecreekrng.com