Kirkland & Ellis advises TPG Rise Climate, a global impact investing platform managed by TPG Global, on its investment in Monarch Bioenergy. Monarch was launched in 2018 between Smithfield Foods and Roeslein Alternative Energy (RAE) to utilize proprietary technology to capture methane emissions from Smithfield’s hog farms and convert methane into carbon-negative renewable natural gas (RNG) to power homes, vehicles and businesses. With the new investment, TPG Rise will become equal members with the existing joint venture partners and will accelerate Monarch’s development of new RNG projects across the United States. The type of biogas created by Monarch’s process has consistently received the lowest LCFS carbon intensity scores, reducing greenhouse gas emissions and providing air quality health benefits by reducing surface ozone.
The Kirkland team was led by corporate partners Kevin Crews and John Furlow with support from associates Blake Longoria, Jack Chadderdon, Tess Dennis and Sam Roberts; and included corporate partners Chris Heasley and Danny Nappier and associate Jonathan Strom; debt finance partners Lucas Spivey and Arthur Lotz and associates Marco Chan and Steven Keithley; tax partners David Wheat, Michael Masri and Lane Morgan; energy regulatory partners Brooksany Barrowes and Drew Stuyvenberg; ESG & Insight partners Alex Farmer and Kaela Colwell; environmental transactions partner Jim Dolphin and associate Courtney Tibbetts; executive compensation Rob Fowler and associate Karsten Busby; technology and IP transactions partner Jeff Norman; IP litigation partner Gianni Cutri; and real estate partner John Goldman.