Fiera Infrastructure Acquires Landfill Gas-to-Energy Platform Company Cube District Energy
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Fiera Infrastructure, an affiliate of Fiera Capital Corporation, has acquired 100 percent of the equity interests in Cube District Energy, a premier U.S. landfill gas-to-energy platform, from I Squared Capital.
Cube provides customers with dispatchable renewable power by capturing and repurposing methane emitted by landfills, reducing greenhouse gas emissions, and providing an alternative to fossil fuel resources. Cube owns and operates eight assets across the Southeast region of the United States, all under long-term contracts with investment grade counterparties. One of the facilities supplies electricity, steam and chilled water to a corporate entity, while the other seven assets supply power to premier electric utilities.
Cube will be renamed Captis Energy, following the completion of the transaction.
“Cube is a leading operator of landfill gas-to-energy assets in the United States, offering a replacement for fossil energy sources while supporting methane reduction targets and clean energy initiatives. We believe that the company is well positioned, with a strong management and operations team, to expand its current footprint through scale acquisitions and new development, including both landfill gas-to-power and RNG production projects,” said Alina Osorio, president of Fiera Infrastructure.
“Under I Squared’s ownership, Cube District Energy executed various operational initiatives that have positioned the company well for its next chapter of growth. We wish Chris Eastgate and his team every continued success and congratulate Fiera on the transaction,” said Thomas Lefebvre, partner of I Squared.
“I Squared’s ownership and leadership positioned Cube District Energy as a sustainable platform business in the renewable energy sector. Together with our new owners, Fiera, and a committed team at Cube District Energy, I look forward to building on this platform, continuing to grow a successful core business and leveraging off this into adjacent renewables activities,” said Chris Eastgate, chief executive officer of Cube.
About Cube District Energy
Founded in 2014 and headquartered in Atlanta, Georgia, Cube owns and operates seven landfill gas-to-power assets and one cogeneration asset across the southeastern United States.
About Fiera Infrastructure
Fiera Infrastructure is a leading global mid-market direct infrastructure investor operating across all subsectors of the infrastructure asset class. Led by a team of highly experienced and specialized professionals, the firm leverages strong global relationships, with a local presence in Toronto, London and New York. Fiera Infrastructure has assets under management and commitments of C$3.0 billion as of September 30, 2021. Fiera Infrastructure has invested in 40 infrastructure assets across utilities, telecommunications, transportation, renewables and PPPs.
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