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Tuesday, Feb 27, 2024

CIM Group Expands Investment in Renewable Natural Gas with Acquisition of MAS Energy’s Development Platform

CIM Group announced last week that it had fully acquired MAS CanAm, LLC’s renewable natural gas-development platform. As part of the transaction, the platform will be renamed Terreva Renewables.

MAS CanAm is an affiliate of MAS Energy, LLC, a developer, owner and operator of landfill gas-based renewable natural gas in the U.S. and Canada. CIM is a real estate and infrastructure owner, operator, lender and developer. Terms of the deal were not disclosed.

“CIM Group’s acquisition of Terreva represents a marquee transaction in the RNG sector that came about as a result of our long-standing commitment to and experience in renewable energy, and our strong, established relationship with MAS Energy,” Avi Shemesh, co-founder and principal at CIM Group, said in a statement.

“We continue to believe RNG is a crucial component of the global energy transition and are excited to contribute as a leader in decarbonization,” Terreva is expected to produce renewable natural gas by the end of this year and will be a large participant in the North American RNG sector, according to CIM.

Baker Botts LLP served as legal advisor to CIM Group in the transaction; MAS Energy was advised by Kirkland & Ellis LLP and Cantor Fitzgerald LP.

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