New Energy One (NEO), jointly owned by Meridiam, an independent investment Benefit Corporation under French law and an asset manager, and an affiliate of Sevana Bioenergy, a California-based anaerobic digestion project developer, announced today the completed transaction of negative Carbon Intensity (CI) electricity supply from their Idaho-based dairy digester facility for use in electric vehicles in California.
The sale isone of the first of its kind and hints at a growing trend of biogas facilities transitioning to electricity to support the decarbonizing California transportation market.
The power from this facility has a Carbon Intensity score of -698.21 grams of CO2e/megajoule, one of the best scores registered for an approved pathway under the LCFS. Each MWh of electricity generated by this project and delivered into EVs equates to 3.6 tons of CO2 emissions reductions, 2.5 more tons than qualifying zero-CI RECs generated from wind or solar resources.
The project began delivering power in November 2020, and CARB issued the first LCFS credits from this project in July 2021. In addition to the California LCFS, a Tier 2 pathway has recently been approved for this project to support Oregon’s Clean Fuels Program, making it one of the first of its kind in the state.