Nexus PMG announced a $50 million growth equity round, led by an affiliate of Greenbacker, with participation from the Ontario Power Generation Pension Fund and Liberty Mutual Insurance. The close of this investment represents a significant milestone as the firm builds upon a decade of experience in the low-carbon waste-to-value sector and will enable Nexus PMG to rapidly expand its services business and project development business lines in North America.
With the new round of capital, Nexus PMG intends to expand its existing core service offerings including front-end engineering and design, development-as-a-service and operational turnaround. Nexus also leverages its deep knowledge in the space to develop greenfield and brownfield assets across North America, creating low-carbon (or even carbon-negative) products to reduce the emissions of tough-to-abate sectors like chemicals production and aviation.
“Nexus PMG’s strategy of consulting for, and directly developing in, the waste-to-value space is an attractive, high-growth proposition,” said Quinn Pasloske, a Principal at Greenbacker. “The transformation of our waste infrastructure and the production of low-carbon fuels is a critical component of the global energy transition, but the assets are challenging. Nexus PMG is well-equipped to assist clients in navigating those complexities while advancing its independent platforms and assets.”
With a decade of deep knowledge and experience consulting on the design, bid and build side of low-carbon infrastructure, where Nexus PMG works closely with the owners and financiers of these projects, the company’s services business is primed for growth. In the next phase, Nexus PMG will hire additional talent and expand its offerings and client base, while continuing to tailor to industry needs.
“Green molecule infrastructure is rapidly advancing and is a critical component of the energy transition,” said Ryan Bisch, board member of Nexus. “Nexus is at the forefront of building and optimizing this type of infrastructure. The company can develop new assets and revitalize existing ones to produce cost-competitive molecules that can reduce or even eliminate harmful greenhouse gasses.”
“Today, as corporations and investors strive to meet near- and long-term sustainability goals, we find that most have existing portfolio assets with a waste component that can be valorized,” said Ben Hubbard, CEO of Nexus PMG. “Helping corporates in those waste-to-value asset classes is essential to achieve our larger energy transition goals and now, as an institutionally backed firm, we’re looking forward to expanding our team to meet a growing demand for low-carbon infrastructure subject matter expertise.”
