Burnham RNG places green bonds via Washington Economic Development

By Marisa Wong

Los Angeles, June 15 – Burnham RNG LLC announced the issuance of green bonds (Baa3) to support the construction of the Pasco Resource Recovery Center, an industrial wastewater treatment facility that will clean wastewater for agricultural re-use and capture biogas and convert it into renewable natural gas.

The bonds were issued by the Washington Economic Development Finance Authority, and the private placement was led by Jefferies LLC, according to a press release.

The project represents a 30-year public private partnership with the city of Pasco, Wash., for Burnham to build, own and operate the center on behalf of the city. The renewable natural gas will be sold under a long-term contract, allowing the city to reduce net treatment costs and take advantage of tax incentives currently available for renewable natural gas projects under the Inflation Reduction Act.

The construction expenditures for the center are estimated to generate over $200 million in economic output, support over 1,000 jobs and pay about $85 million in labor income across Washington state, the release noted.

Burnham is an Arlington, Va.-based company that manages and reuses organic waste and wastewater and transforms it into renewable natural gas, clean water and high-value soil additives. The company is backed by Edge Natural Resources, a Dallas-based private equity firm.

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