Australian asset manager IFM Investors has established a Texas-based clean fuels company. Mobius Renewables, a platform for low-carbon fuels will work towards commercialising biomethane across North America and Europe. The platform itself will be vertically integrated, combining development, production and distribution.
Mobius is a combination of an existing IFM platform (GreenGasUSA) and the planned acquisition of already operational facilities from Mobius Fuels, a North American natural gas developer.
In a statement, IFM Investors said the launch of its new company is aimed at a biomethane market that is pivoting from its historical focus on waste-to-energy projects to a new era of biomethane as a ‘global, infrastructure grade fuel’.
“We are excited to establish this Texas-based platform and to further expand into the global low carbon fuels sector, where our conviction remains strong given the durable long-term fundamentals and sustained supply demand imbalance”, commented Julio Garcia, IFM’s head of infrastructure for North America.
Cynthia Walker, who previously led Mobius Fuels, has been appointed as chief executive of the new company. Under her leadership, Mobius Renewables is expected to produce and distribute over 5.5m MMBtu of biomethane annually.
“Our mission is to convert waste into a globally relevant, infrastructure-grade renewable fuel. With IFM’s backing, a talented team and the reach of our expanding platform, we are well positioned to help partners unlock the full value of their resources while advancing sustainability”, Walker said.
IFM Investors expects demand from sectors such as LNG, transportation and power generation to fuel the growth of biomethane in the years ahead. This marks a further expansion of IFM Investors strategic embrace of investment opportunities in low carbon fuels.
In September this year, IFM Investors announced a collaboration with Ampol and GrainCorp in Australia to ‘explore the establishment of an integrated renewable fuels supply chain in Australia’. Its new North American opportunity exploration excerise will seemingly draw on its learnings from down under.
