Ameresco, Inc. (NYSE: AMRC), a leading energy infrastructure solutions provider today announced the successful closing of its previously announced transaction with HA Sustainable Infrastructure Capital, Inc. (NYSE:HASI), a leading investor in sustainable infrastructure assets, to spin off Ameresco's biofuels business into a newly formed joint venture: Neogenyx Fuels.

Neogenyx Fuels is owned 70% by Ameresco and 30% by HASI. As part of the completed transaction, Ameresco has contributed its biofuels business, comprising its scaled asset base and proven development and operating capabilities, into the joint venture, and HASI has committed to invest $400 million to support the growth of Neogenyx Fuels, $100M of which was distributed to Ameresco at closing. The transaction represents a strategic step to unlock the significant value embedded in Ameresco's biofuels business, representing a $1.8 billion post-money enterprise value.