• Proceeds will be used to fund the expansion of Streamline’s lease fleet of Valkyrie™ hydrogen sulfide (H₂S) treatment plants, creating inventory to accelerate the deployment of new units, and broaden Streamline’s technology offerings in the Renewable Natural Gas (RNG) and Carbon Capture Utilization and Storage (CCUS) markets
• Series C equity round led by Kayne Anderson Capital Advisors
• Existing Term Loan with Riverstone Credit Partners upsized and recognized as a green financing by Sustainable Fitch
• Streamline’s Valkyrie™ technology helps customers improve operational performance and profitability while also providing a more environmentally forward solution to help achieve better environmental outcomes and overall ESG scores

Streamline Innovations, Inc. (“Streamline”), the leader in green solutions for treating hydrogen sulfide (H₂S) and other toxic emissions, has raised new growth capital via an equity raise led by Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) and Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF), which are closed-end funds managed by Kayne Anderson Capital Advisors, L.P. (“Kayne Anderson”), and an upsize of its Term Loan from Riverstone Credit Partners LLC, a dedicated credit investment platform focused on energy, power, decarbonization, and infrastructure managed by Riverstone Holdings LLC (“Riverstone”). Riverstone also participated in the equity raise. Proceeds will be used to construct additional Valkyrie™ plants to expand Streamline’s fleet across multiple sectors and geographies.

See related article: Helios Technologies Sets Goal of Achieving Net Zero GHG Emissions By 2050

Sustainable Fitch, a division of Fitch Group focused on ESG, recently recognized the Term Loan as a Green Loan aligned with the four pillars of the LSTA Green Loan Principles and the LSTA category of pollution and prevention. This ESG rating validates Streamline’s green technology as a solution for helping industry move forward to a sustainable and clean future.

Streamline’s patented, biodegradable chemistry and processes convert toxic H₂S into elemental sulfur, which can be cleanly disposed of or used in agricultural purposes, such as fertilizer. Many alternative treatment solutions result in hazardous or toxic byproducts that require special handling. In addition, Streamline’s chemistry is regenerative, so it can be reused hundreds of times versus toxic alternatives, reducing its footprint and the consumption of raw materials relative to other alternatives.

“We are thrilled to partner with Kayne Anderson and strengthen our relationship with Riverstone with this growth capital financing,” said David Sisk, Co-Founder and CEO. “The new funds will be put to immediate use to expand our lease fleet. More Valkyrie units will help us meet growing demand for our environmental solutions for H₂S and be more responsive to the market by substantially reducing delivery times for our units. Also, we will use this capital to further penetrate and aggressively grow our presence in the energy transition markets, including RNG, LNG, renewable fuels and CCUS.”

Ron Logan, Senior Managing Director and Portfolio Manager at Kayne Anderson, said, “We have been impressed by Streamline’s green solutions for solving a persistent and pervasive problem faced by multiple industries worldwide. We invested in Streamline recognizing its growth potential and are excited to contribute our capital and experience to help scale the business.”

Chris Abbate, a Partner at Riverstone, said, “We are pleased to increase our commitment to Streamline and help them expand their Valkyrie fleet. Their green solutions are exactly what the industry needs to improve environmental performance, reduce emissions and achieve overall sustainability goals.”

Citigroup served as exclusive placement agent for the equity raise.

Source: BusinessWire