Cryopeak LNG Solutions Corporation and Ferus Natural Gas Fuels Inc. jointly-announce a Strategic Merger and the Acquisition of Campus Energy Partners LNG Assets.
Cryopeak LNG Solutions Corporation and Ferus Natural Gas Fuels Inc. are pleased to announce they have merged forming a new LNG production and distribution technology-focused entity which is now named Cryopeak Energy Solutions Corporation ("Cryopeak").
RICHMOND, BC, Feb. 5, 2024 /PRNewswire/ -- Cryopeak LNG Solutions Corporation and Ferus Natural Gas Fuels Inc. are pleased to announce they have merged forming a new LNG production and distribution technology-focused entity which is now named Cryopeak Energy Solutions Corporation ("Cryopeak").
Cryopeak is also pleased to announce the acquisition of all LNG assets from Campus Energy Partners Infrastructure LP, including the regional LNG production facility located in Dawson Creek, British Columbia.
Cryopeak LNG Solutions/Ferus Natural Gas Fuels Inc. announce Strategic Merger
Through the merger and acquisition, Cryopeak will be the largest private, vertically integrated, LNG producer and service provider in Canada.
Cryopeak will manage three LNG production facilities in Western Canada and operate the largest fleet of LNG transportation, mobile storage, and regasification equipment. This will serve to support the growing market demand for LNG as a lower carbon fuel. Cryopeak will significantly increase its market presence across Canada to support the adoption of LNG for off-grid industries and remote communities.
"We are very excited with the merger and acquisition which supports Cryopeak in its goal of being a leader in the growing LNG market. With increased production capacity and diverse equipment portfolio, Cryopeak is uniquely positioned to support our customers to integrate LNG safely and efficiently into their operations," states Calum McClure, CEO of Cryopeak Energy Solutions.
The merger and acquisition support Cryopeak's strategy of being the leading company specializing in LNG production and distribution and technology solutions in Canada.
About Cryopeak Energy Solutions Corporation:
Cryopeak Energy Solutions Corporation is a merger between Cryopeak LNG Solutions Corporation (majority owned by BP Energy Partners), and Ferus Natural Gas Fuels Inc. (majority owned by The Energy & Minerals Group). The company is a market leader in providing energy solutions using LNG as a low carbon fuel. By displacing more carbon intensive fuels, Cryopeak supports its remote and off-grid customers by lowering emissions and energy costs.
For more information, please visit www.cryopeak.com
About BP Energy Partners, LLC:
BP Energy Partners (BPEP) is a Dallas, Texas based independent investment firm founded in 2012 with over $600 million in committed capital. BPEP makes control investments in a diversified portfolio of lower-middle market companies that provide solutions, services, and products that enable energy and energy intensive industries to decarbonize without sacrificing affordability, security, reliability — and returns ("Practical Decarbonization").
For more information, please visit www.bpenergypartners.com.
About The Energy & Minerals Group, LLC:
The Energy & Minerals Group (EMG) is a specialized natural resource focused private equity firm founded in 2006 with current assets under management ("AUM") of approximately $14 billion as of September 30, 2023. In addition, EMG's funds and co-investments have returned approximately $11 billion to Limited Partners to date. EMG targets equity investments of $150 million to $1,000 million across the natural resource industry, which includes the extraction and processing of the critical metals and minerals to facilitate decarbonization as well as upstream and midstream energy.
For more information, please visit https://www.emgtx.com/.
SOURCE Cryopeak LNG Solutions Corporation