Archaea Announces Leadership Transition
10 Februar 2022 - 10:15PM
Business Wire
Archaea Energy Inc. (“Archaea” or “the Company”) (NYSE: LFG),
announced today that effective March 1, 2022, Eric Javidi and
Lindsay Ellis will step down from their respective positions as
Chief Financial Officer and General Counsel. Mr. Javidi and Ms.
Ellis will remain consultants to the Company for the next 12 months
to assist the Company in transitioning into its next phase of
leadership and growth.
Mr. Javidi joined the predecessor to Archaea in April 2021 to
help build Archaea’s public company financial functions, including
its financial reporting, accounting, investor relations and capital
market capabilities, and Ms. Ellis joined the predecessor to
Archaea in July 2021 to build Archaea’s public company legal and HR
functions, all which were completed successfully under their
direction.
The Company and its Board of Directors have begun a search
process to identify a permanent Chief Financial Officer and General
Counsel. In the interim, Daniel Rice, Chairman of the Board of
Archaea, has been named Executive Chairman to provide oversight for
Archaea’s core financial and legal functions.
Nick Stork, Archaea’s Chief Executive Officer, and Daniel Rice,
on behalf of the Company stated, “We would like to personally thank
Eric and Lindsay for assisting the Company in successfully
completing a highly complex deSPAC transaction and for their
leadership in building key public company functions in a tightly
compressed timeframe. We’re grateful for the foundation they have
built for Archaea’s continued success. We wish them the best in
their future endeavors.”
Mr. Javidi and Ms. Ellis jointly stated, “It has been a
privilege to work with the Archaea team to develop the Company’s
public company competencies and foundation. We look forward to
assisting Archaea leverage its platform to create sustainable
shareholder value and continued success.”
The Company noted that the departures of Mr. Javidi and Ms.
Ellis are not related to any issues regarding the Company’s
regulatory or accounting policies or practices.
ABOUT ARCHAEA
Archaea Energy Inc. is one of the largest RNG producers in the
U.S., with an industry-leading platform and expertise in
developing, constructing, and operating RNG facilities to capture
waste emissions and convert them into low carbon fuel. Archaea’s
innovative, technology-driven approach is backed by significant gas
processing expertise, enabling Archaea to deliver RNG projects that
are expected to have higher uptime and efficiency, faster project
timelines, and lower development costs. Archaea partners with
landfill and farm owners to help them transform potential sources
of emissions into RNG, transforming their facilities into renewable
energy centers. Archaea’s differentiated commercial strategy is
focused on long-term contracts that provide commercial partners a
reliable, non-intermittent, sustainable decarbonizing solution to
displace fossil fuels.
Additional information is available at
www.archaeaenergy.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain statements that may include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended (the “Securities Act”), and
Section 21E of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”). Statements that do not relate strictly to
historical or current facts are forward-looking and usually
identified by the use of words such as “anticipate,” “estimate,”
“could,” “would,” “should,” “will,” “may,” “forecast,”
“approximate,” “expect,” “project,” “intend,” “plan,” “believe” and
other similar words. Forward-looking statements may relate to
expectations for future financial performance, business strategies
or expectations for Archaea’s business. Specifically,
forward-looking statements may include statements concerning market
conditions and trends, earnings, performance, strategies, prospects
and other aspects of Archaea’s business. Forward looking statements
are based on current expectations, estimates, projections, targets,
opinions and/or beliefs of Archaea, and such statements involve
known and unknown risks, uncertainties and other factors.
The risks and uncertainties that could cause those actual
results to differ materially from those expressed or implied by
these forward looking statements include, but are not limited to:
(a) the ability to recognize the anticipated benefits of the
business combinations and any transactions contemplated thereby,
which may be affected by, among other things, competition, the
ability of Archaea to grow and manage growth profitably and retain
its management and key employees; (b) the possibility that Archaea
may be adversely affected by other economic, business and/or
competitive factors; (c) Archaea’s ability to develop and operate
new projects; (d) the reduction or elimination of government
economic incentives to the renewable energy market; (e) delays in
acquisition, financing, construction and development of new
projects; (f) the length of development cycles for new projects,
including the design and construction processes for Archaea’s
projects; (g) Archaea’s ability to identify suitable locations for
new projects; (h) Archaea’s dependence on landfill operators; (i)
existing regulations and changes to regulations and policies that
affect Archaea’s operations; (j) decline in public acceptance and
support of renewable energy development and projects; (k) demand
for renewable energy not being sustained; (l) impacts of climate
change, changing weather patterns and conditions, and natural
disasters; (m) the ability to secure necessary governmental and
regulatory approvals; (n) the Company’s expansion into new business
lines; and (o) other risks and uncertainties indicated in the
Registration Statement on Form S-1 (File No. 333-260094),
originally filed by Archaea with the SEC on October 6, 2021, as
subsequently amended on October 18, 2021 and declared effective by
the SEC on October 21, 2021, including those under “Risk Factors”
therein, and other documents filed or to be filed with the SEC by
Archaea.
Accordingly, forward-looking statements should not be relied
upon as representing Archaea’s views as of any subsequent date.
Archaea does not undertake any obligation to update forward-looking
statements to reflect events or circumstances after the date they
were made, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
laws.
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Investors and Media Megan Light
mlight@archaea.energy 346-439-7589
Archaea Energy (NYSE:LFG)
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