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BP completes acquisition of Archaea Energy
The Fly

BP completes acquisition of Archaea Energy

bp (BP) completed its purchase of Archaea Energy (LFG), marking a milestone in the growth of bp’s strategic bioenergy business. "We see enormous opportunity to grow our bioenergy business by bringing Archaea fully into bp," said Dave Lawler, chairman and president bp America. "The talent, expertise and passion of their team has let them achieve incredible growth so far, and we’re excited to support the next chapter in line with our strategy." Bioenergy is one of five strategic transition growth engines that bp intends to grow rapidly through this decade. bp expects investment into its transition growth businesses to reach more than 40% of its total annual capital expenditure by 2025, aiming to grow this to around 50% by 2030. With the close of the agreement, Archaea common shares will cease to be listed on the NYSE.

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