Clean Bay Renewables, a U.S. environmental technology company focused on renewable natural gas (RNG) and natural fertilizer production, plans to go public through a transactional merger with Vertec Acquisition Corporation (NASDAQ:BRKH), a special purpose acquisition company (SPAC). The value of the transaction will be $330 million.
Founded in 2013, CleanBay has developed technology to reuse byproducts from the poultry industry to produce sustainable RNG, green hydrogen, and natural controlled-release fertilizer. The company is building a portfolio of anaerobic digestion and nutrient recovery facilities, with four projects in the United States and 17 other potential project sites already identified.
We are currently in the process of applying to the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) for more than $750 million in loans for our plants to be built in three states in the U.S.
According to the company’s management, each CleanBay facility is expected to have the maximum capacity to recycle over 150,000 tons of poultry manure annually.
