San Antonio--(BUSINESS WIRE)--Streamline Innovations, Inc. ("Streamline"), a leader in hydrogen sulfide (H2S) environmentally friendly advanced treatment solutions, announced today that it has completed a high-level guarantee period The loan ("financing") is on November 23, 2021. Financing is a deferred fixed-term loan, and its structure is a loan linked to sustainability to promote and support environmentally sustainable economic activities and growth.
The proceeds from the financing will be used to build the Valkyrie plant to treat natural gas production streams contaminated with toxic and corrosive H2S. These plants will be built for new Streamline customers in the energy sector and are expected to be put into use in the first half of 2022.
Financing was provided by Riverstone Credit Partners, LLC, a dedicated credit investment platform focusing on energy, power, decarbonization and infrastructure, managed by Riverstone Holdings LLC ("Riverstone").
Streamline's patented chemistry and process convert toxic H2S into water and pure elemental sulfur. This sulfur can be cleaned or used as fertilizer for agricultural purposes. This is different from many other solutions that create dangers that require special treatment. Or toxic by-products. The result is an environmental performance solution that enables companies to achieve sustainable development goals in a cost-effective manner.
Chief Financial Officer Chip Van Os said: "The demand for our environmental solutions is rapidly increasing, which drives our need for additional financial resources. "We are very pleased to cooperate with Riverstone on this financing, and the timing is just right. Energy companies are committed to seeking clean solutions to safely remove H2S from production streams and eliminate the combustion of toxic acid gases, thereby reducing SO2 emissions and thereby reducing their environmental footprint. We are able to provide green, innovative solutions that bring attractive economic benefits to our customers, which makes us a leader in solving H2S challenges in all the markets we serve. "
Chris Abbate, partner at Riverstone, said: "We are very pleased to work with Streamline to expand their Valkyrie treatment plant footprint. Streamline has a proven track record in helping customers in multiple end markets improve environmental performance, reduce emissions, and achieve ESG goals."
The vision of Streamline Innovation is to eliminate pollution through technology. We help heavy industries around the world achieve environmental performance goals, improve sustainability, and transition to a sustainable low-carbon economy.
Streamline's environmentally friendly H2S processing solutions can help our customers achieve the "E" in ESG. H2S exists in many industrial processes around the world. Our technology can be applied to all walks of life to provide sustainable solutions to eliminate H2S (the main cause of human inhalation accidents, corrosion and SO2 emissions, and the main cause of acid rain).
We also believe that implementing ESG directives requires data. The creation of intelligent systems that can operate effectively without human intervention is critical to measuring and reducing emissions that harm the environment. We integrate advanced process control, data collection and analysis into our technology to provide customers with overall solutions.
We provide services to organizations in multiple fields, including energy/oil and gas, biogas, landfill gas and renewable fuels, urban wastewater, and industrial air and water.
Visit streamlineinnovations.com for more information.
Founded in 2000, Riverstone is an investment company focusing on private equity and credit investments in the fields of energy, power, decarbonization and infrastructure. To date, the company has raised approximately US$43 billion in funding and has deployed more than 200 portfolio companies on its platform since its inception. For more information about Riverstone, please visit www.riverstonellc.com.
Streamline Innovations Chip Van Os Chief Financial Officer Streamline Innovations, Inc.chip.vanos@streamlineinnovations.com
Adam Kneller, Managing Director, Head of Credit Investor Relations, Riverstone Holdings LLC akneller@riverstonellc.com 212-271-2941
Streamline Innovations Chip Van Os Chief Financial Officer Streamline Innovations, Inc.chip.vanos@streamlineinnovations.com
Adam Kneller, Managing Director, Head of Credit Investor Relations, Riverstone Holdings LLC akneller@riverstonellc.com 212-271-2941