Anaergia Inc. Announces Appointment of Richard Chow as a New Director

BURLINGTON, Ontario, August 5, 2021 (BUSINESS WIRE) — Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG), an integrated waste-to-value platform created to eliminate greenhouse gases by cost-effectively turning organic waste into renewable natural gas, fertilizer and water, announced today that Mr. Richard Chow has been appointed to the Board of Directors of the Company (the “Board”).

The Company’s Nominating Committee proposed, and the Board approved, the appointment of Mr. Chow to the Board. The appointment of Mr. Chow to the Board of Directors is effective August 4, 2021. He will serve on the Governance, Compensation & Nominating Committee of the Board.

“We are pleased to welcome Richard Chow. We know that with Richard’s knowledge and extensive background in high growth renewable energy companies he will be a valuable addition to our Board of Directors,” said Dr. Andrew Benedek, Chairman of the Board of Directors and CEO of the Company.

Richard Chow is an Advisor to Inclusive Capital Partners, a San Francisco-based investment firm. Mr. Chow has close to 25 years of experience in the energy industry, having served as CEO, president, and/or board member for several companies. Most recently, he has been a Distinguished Careers Institute Fellow at Stanford University, where he continues to serve as an advisor to the TomKat Center for Sustainable Energy. Previously, Mr. Chow founded Ridge Energy Services in 2016, an oilfield services company focused on geothermal, and sold the company assets to Iceland Drilling in 2020. For close to ten years, Mr. Chow was a portfolio CEO for a group of institutional investors, including Riverstone Holdings, a $30 billion private equity firm investing across the entire energy value chain globally. In this capacity, he served as the CEO and Board member for ThermaSource (geothermal) and President of US Biodiesel (biofuels). In the 1990s, Mr. Chow served as the President of a Bechtel Enterprises joint venture with PacifiCorp (EnergyWorks) that developed renewable energy and on-site generation projects in Southeast Asia. Mr. Chow began his career in energy developing coal and natural gas power projects before transitioning to focus on the development of renewable energy projects, such as wind, solar, biomass, geothermal and now, renewable natural gas.

Inclusive Capital Partners Discloses Ownership

Inclusive Capital Partners has informed the Company that it has acquired approximately 2.5 million Subordinate Voting Shares of Anaergia, representing more than 4% of Anaergia’s total shares currently outstanding. The Company understands that these shares were acquired both in Anaergia’s initial public offering, as well as in the open market, for investment purposes.

Inclusive Capital Partners was formed in 2020 by Managing Partner Jeffrey Ubben and a team of experienced investors with a shared passion for positively leveraging capitalism and governance in pursuit of a healthy planet and the health of its inhabitants. The investment firm seeks long-term shareholder value through active partnership with companies whose core businesses contribute solutions to this pursuit.

Mr. Marvin Rhem Wooten

Mr. Marvin Rhem Wooten has resigned as a member of the Board so that he may focus his efforts on other professional duties. Mr. Wooten has served on the Board since 2019 and Anaergia would like to thank Mr. Wooten for his contributions over the past two years and wish him well in his future endeavours.

About Anaergia

Anaergia was created to eliminate a major source of greenhouse gases (“GHGs”) by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record from delivering world leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the Municipal Solid Waste, Municipal Wastewater, Agriculture, and Food Processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.

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Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Prospectus. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.


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