Avista Capital, a subsidiary of large energy company Avista Corp., has made an investment in Plum Energy LLC, which develops small-scale liquefied natural gas (LNG) platforms. Avista Capital now has a 20 percent equity share in the company.
Plum Energy's business is primarily focused on building LNG capacity for organizations that are displacing diesel and gasoline with natural gas, including companies in the over-the-road transportation, mining, and oil and gas production segments. These companies generally seek volumes of less than 150,000 gallons of LNG per day.
‘Small-scale LNG offers customers a game-changing source of lower cost, clean-burning natural gas for all kinds of commercial and industrial uses,’ says Plum Energy chief executive Kirt Montague. ‘Avista's investment affirms the direction of our company and gives us the means to extend the value of LNG to a broader customer base in North America.’
Plum Energy handles the design and operation of small-scale LNG production plants, as well as coordinates the transport, delivery, storage and regasification of LNG for end users.