UGI Subsidiary Completes Acquisition of Renewable Natural Gas Company
July 9, 2020
VALLEY FORGE, Pa.–(BUSINESS WIRE) — UGI Corporation (NYSE: UGI) announced today that its subsidiary, UGI Energy Services, LLC, acquired GHI Energy, LLC (“GHI”), a Houston-based renewable natural gas company.
GHI is a leading renewable natural gas (“RNG”) marketer in California, a state with one of the most robust carbon credit trading programs in the nation. GHI is primarily focused on providing vehicle fleets with RNG by coordinating supply from a portfolio of sources across the country.
UGI Energy Services’ deep expertise in energy commodity marketing and its strong customer base will provide a platform for expanding GHI’s marketing, supply & logistics, and project expertise into other parts of the country. Additionally, the investment in GHI reinforces the company’s existing greenhouse gas emission reduction strategies highlighted in UGI’s recently published environmental, social and governance report titled “Today’s Energy, Tomorrow’s World” and provides a platform to further advance our efforts.
John Greene, co-founder of GHI, said, “This transaction represents a major strategic opportunity that provides us with incredible resources from an industry leading energy marketing brand to both grow the company and continue to enhance the excellent customer service that we are known for, both to our existing customer base in California and to future customers in other regions.”
“For over 135 years, UGI has focused on providing safe, reliable service to its customers and to the many communities it serves,” said Robert F. Beard, UGI’s Executive Vice President – Natural Gas. “Adding GHI to our portfolio allows UGI the opportunity to continue growing in an environmentally responsible way, as well as enhance and expand our commitment to offer energy solutions that are innovative, efficient and beneficial to the environment,” Beard concluded.
“The GHI acquisition advances our strategy to position UGI as a leading provider of energy solutions that meet the environmental and social needs of our customers and our communities,” said John Walsh, President and CEO – UGI Corporation. “We’ve had very good success with our Bio-LPG product in Europe and we look forward to expanding our portfolio of renewable offerings. We are committed to positioning UGI as a leader in this area of critical importance to the company and our environment.”
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing in eleven states, the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
Investor Relations
Brendan Heck, 610-337-1000 ext. 6608
Alanna Zahora, 610-337-1000 ext. 1004
Shelly Oates, 610-337-1000 ext. 3202
Source: UGI Corporation
V-2: 7-1-2020
