Close this search box.

Getting climate, energy & environment news right.

BP Bets Big on Biofuel

Rochelle Toplensky of The Wall Street Journal reports that BP is betting big on biofuel.

The C3 Take
  • BP has bought out renewable natural gas producer Archaea Energy for $4.1 billion.
  • The company uses animal and food waste to create a renewable, green natural gas.
  • Earlier this year BP bought a major stake in several renewable and green hydrogen projects in an effort to lower its emissions.
  • This purchase could accelerate renewable and sustainable fuel development in the United States.

“BP highlighted that it has paid four times the forecast 2027 Ebitda, but the valuation amounts to around 28 times Archaea’s 2022 figure. While that is aggressive, BP isn’t alone in expecting big growth in biofuels. Montauk Renewables, another U.S.-listed pure play, trades at an enterprise value of 22.5 times Ebitda.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

Copyright © 2020 Conservative Coalition for Climate Solutions

Subscribe to our exclusive email designed for conservatives who care about climate.

Help us promote free market solutions for climate change.

5 Incredible Ways Economic Freedom Helps the Planet.

Sign up for our newsletter now to get the full list right in your inbox.

Thank you for signing up

Help us promote sensible solutions for both planet and prosperity.

Download Now