The biogas industry needs lending partners that understand how to navigate the challenges of being an innovator in renewable natural gas, as well as how to structure attractive financing options for leading-edge technologies. But the industry struggles to secure affordable capital as a result of financial institutions shying away from the complexities of new technologies that support sustainable growth for this sector.
At West Town Bank & Trust, we understand that a range of institutions and companies have turned to renewable natural gas to improve sustainability, and that the industry is poised for significant long-term growth based on the latest market data:
- Increase in Markets Going Green: Overall increase in markets going green in the U.S., including major corporations, universities and the transportation sector.
- Increases in RNG Facilities: The U.S. has experienced a recent184% increase in the number of renewable natural gas facilities, up from 87 in 2018 to 247 in 2021, according to the Coalition for RNG.
- Projected Increases in RNG Demand: By 2050, the World Bank expects a 69% increase in annual waste generation worldwide, from 2.22 billion tons in 2016 to 3.75 billion.
- Projected Increases in RNG Production Growth: Assuming IEA net zero emission goals are achieved by 2050, worldwide RNG production growth is projected to be 27x 2020 levels.