About Vanguard Renewables
Vanguard Renewables is a Boston-headquartered developer of anaerobic digestion facilities converting food waste and manure into renewable natural gas. The company operates 20 farm-based digesters across New England and New York, processing waste from partners like Whole Foods and universities. Its co-digestion model yields RNG injected into utility pipelines, powering vehicles and grids while generating fertilizer byproducts.
Founded
2014
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$700M (acquired Jul 2022)
Vanguard Renewables Acquisition
Vanguard Renewables was acquired by BlackRock for $700M on 20 July 2022.
Before the acquisition Vanguard Renewables had raised $430M across 1 funding round.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 20 Jul 2022 | PE buyout | $700M |
Vanguard Renewables Funding History
Vanguard Renewables has raised a total of $430M across 1 funding round.
Vanguard Renewables funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2014 | Undisclosed stage | Vision Ridge Capital Partners | $430M | Vanguard Renewables, founded in 2014 by John Hanselman and Kevin Chase, develops anaerobic digesters that convert food waste and dairy manure into renewable natural gas (RNG). Vision Ridge Partners invested in the company from its founding, supporting growth from early facilities co-located with farms in Massachusetts and Vermont to a national platform. The company operates through business lines like Vanguard Organics and Vanguard Ag, mitigating greenhouse gas emissions while providing financial benefits to host farmers under long-term contracts. Vision Ridge Partners held Vanguard Renewables for eight years, enabling expansion into a leader in organics-to-RNG projects. In July 2022, Vision Ridge sold the company to a BlackRock Real Assets fund, reported by multiple sources including the Wall Street Journal as a $700 million deal, with potential additional BlackRock investment exceeding $1 billion for growth. At the time of sale, Vanguard operated six digesters and aimed for over 100 by 2026. |
Who has invested in Vanguard Renewables?
1 investor has backed Vanguard Renewables across its funding rounds, including Vision Ridge Capital Partners.
Vanguard Renewables Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Vanguard Renewables investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Vanguard Renewables
Vanguard Renewables has acquired 2 companies to date.
Last acquisition by Vanguard Renewables was on February 17th 2026. Vanguard Renewables acquired E-Z Recycling for undisclosed valuation.
Latest Acquisitions by Vanguard Renewables
| Description | E-Z Recycling is a materials recovery facility focused on depackaging, processing, and recycling expired and unsalable food and beverage products. | Complete Beverage Destruction is a U.S. provider of secure destruction services for surplus and unsellable alcoholic beverages. Operating facilities in California and Nevada, the company crushes, renders, and recycles beer, wine, and spirits in compliance with TTB regulations, serving breweries, distributors, and retailers nationwide. |
| HQ Country | ||
| HQ City | - | Tampa, FL |
| Deal Date | 17 Feb 2026 | 3 Nov 2025 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Vanguard Renewables acquisitions and their M&A valuation multiples. Start Free Trial | ||
Vanguard Renewables Competitors
Vanguard Renewables competitors include listed companies like Array Technologies and Canadian Solar, and private ones like Amogy, Fulcrum Bioenergy, HIF Global and Climeworks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $700M | - | ||
| Private | - | - | $603M | - | ||
| Private | - | - | $600M | - | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $1.3B | $34M | $650M | 1.1x | ||
| Publicly listed | $5.6B | $546M | $798M | 1.5x |
Vanguard Renewables Public Comps
Vanguard Renewables is no longer listed, but its public comps include Hallador Energy, Voltalia, GeoPark, Mogan Enerji, Shizuoka Gas Co, Hyliion, EnQuest, VAALCO Energy, Vulcan Energy Resources and Vitesse Energy.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $469M | $99M | 1.6x | 1.6x | 7.4x | 14.7x | |||
| $677M | $163M | 5.0x | 4.8x | 20.9x | 13.9x | |||
| $493M | $208M | 2.1x | 1.9x | 5.0x | 3.5x | |||
| $223M | $105M | 3.0x | 1.8x | 6.3x | 3.4x | |||
| $1.3B | $153M | 0.5x | 0.5x | 4.3x | 4.3x | |||
| $3M | ($60M) | 192.1x | 60.8x | (11.2x) | (13.9x) | |||
| $1.1B | $894M | 1.4x | 1.3x | 1.7x | 2.5x | |||
| $359M | $92M | 2.5x | 2.1x | 9.7x | 4.7x | |||
This data is available for Pro users. Sign up to see all Vanguard Renewables competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Vanguard Renewables
| When was Vanguard Renewables founded? | Vanguard Renewables was founded in 2014. |
| Where is Vanguard Renewables headquartered? | Vanguard Renewables is headquartered in Boston, MA, United States. |
| Is Vanguard Renewables publicly listed? | No, Vanguard Renewables was acquired by BlackRock in July 2022. |
| Who acquired Vanguard Renewables? | Vanguard Renewables was acquired by BlackRock in July 2022. |
| How much was Vanguard Renewables acquired for? | Vanguard Renewables was acquired for $700M in July 2022. |
| How much funding has Vanguard Renewables raised? | Vanguard Renewables has raised $430M across 1 funding round. |
| What was Vanguard Renewables' last funding round? | Vanguard Renewables' last funding round was a $430M undisclosed-stage round in January 2014. |
| Who are Vanguard Renewables' investors? | Vanguard Renewables' investors include Vision Ridge Capital Partners. |
| Which companies are comparable to Vanguard Renewables? | Companies comparable to Vanguard Renewables include Amogy, Fulcrum Bioenergy, HIF Global, Climeworks, Array Technologies and Canadian Solar. |
| How many companies has Vanguard Renewables acquired? | Vanguard Renewables has acquired 2 companies, including E-Z Recycling and Complete Beverage Destruction. |
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