Joint VentureMay 4, 2026, 04:18 PM
Ameresco Forms Neogenyx Fuels JV with HASI, Valued at $1.8B; Q1 Revenue $401.5M
AI Summary
Ameresco, Inc. announced the formation of Neogenyx Fuels LLC, a joint venture with HA Sustainable Infrastructure Capital, Inc. (HASI), for its biogas business. HASI will invest $400 million for a 30% equity interest, valuing the new entity at $1.8 billion, with Ameresco retaining 70%. This strategic move aims to accelerate growth and monetize a portion of Ameresco's biogas business value. Concurrently, Ameresco reported Q1 2026 revenues of $401.5 million, a 14% increase year-over-year, alongside a net loss of $18.3 million and GAAP EPS of ($0.35). The company also updated its full-year 2026 guidance to reflect the expected impact of the Neogenyx Fuels transaction.
Key Highlights
- Formed Neogenyx Fuels LLC, a joint venture with HASI for Ameresco's biogas business.
- HASI to invest $400 million for a 30% equity interest in Neogenyx Fuels, valuing the JV at $1.8 billion.
- Q1 2026 revenues increased 14% year-over-year to $401.5 million.
- Reported Q1 2026 net loss attributable to common shareholders of $18.3 million, or ($0.35) GAAP EPS.
- Adjusted EBITDA for Q1 2026 was $40.5 million, in line with expectations.
- Awarded Project Backlog grew 20% year-over-year to $2.774 billion.
- Updated FY 2026 Adjusted EBITDA guidance to $250 million - $270 million and Non-GAAP EPS to $1.06 - $1.28.
- Q1 Cash Flows from Operating Activities were $35.4 million, up from ($28.304) million in Q1 2025.