Monarch Bioenergy Receives Funds to Boost Renewable Energy Efforts
The push toward carbon neutrality in the pork industry continues. Monarch Bioenergy, a collaboration between Roeslein Alternative Energy (RAE) and Smithfield Foods Inc. subsidiary Smithfield Renewables, recently received funding from TPG Rise Climate.
Applying RAE anaerobic digester technology and other environmental protections to Smithfield’s hog farms is a meaningful step toward addressing methane emissions at their source, said Marc Mezvinsky, Business Unit Partner in TPG Rise, in a release.
Monarch uses the digester to capture methane emissions from manure and convert the gas into carbon negative, pipeline-quality natural gas. In addition to this biogas, byproducts from this process include feedstock for fertilizer, irrigation and soil regeneration. Future solutions may also include organic fertilizer, clean water creation and compostable fiber.
“Monarch is taking an innovative approach to tackling methane emissions – one of the most complex challenges we face in the fight against climate change. With additional capital and expertise from TPG Rise Climate, Monarch will continue to advance RAE’s technology and commercialize its adoption to large and small agricultural operations across the country,” said Chris Roach, newly appointed CEO of Monarch.
Smithfield Renewables is committed to becoming carbon neutral by 2030 and is excited to integrate with TPG Rise Climate and Monarch, according to the press release.
Likewise, RAE said they will continue to see Monarch as a blueprint for how to address environmental challenges with fully integrated, closed-loop innovations. RAE’s goal is to restore 30 million acres of land to native prairie plants, specifically around highly erodible areas, providing ecological services and wildlife habitat for monarch butterflies across Missouri, as well as naturally sequestering carbon, storing and filtering water and creating biomass for additional renewable natural gas production.
TPG Rise Climate’s multi-sector investing strategy includes the acceleration of transition to renewable energy, greening the industrial sector, and scaling greenhouse gas abating technologies, said a recent press release. Their investment looks to advance agricultural innovation, enhance existing projects in Missouri and develop new ones across the U.S.