FalseFY20210001823766P2YP2YP2YP2YP2YP1Y00018237662021-01-012021-12-3100018237662021-06-30iso4217:USD0001823766us-gaap:CommonClassAMember2022-03-04xbrli:shares0001823766us-gaap:CommonClassBMember2022-03-040001823766lfg:AriaEnergyLLCMember2021-01-012021-12-3100018237662021-12-3100018237662020-12-31iso4217:USDxbrli:shares0001823766us-gaap:CommonClassAMember2021-12-310001823766us-gaap:CommonClassAMember2020-12-310001823766us-gaap:CommonClassBMember2021-12-310001823766us-gaap:CommonClassBMember2020-12-310001823766us-gaap:EnergyServiceMember2021-01-012021-12-310001823766us-gaap:EnergyServiceMember2020-01-012020-12-310001823766us-gaap:EquipmentMember2021-01-012021-12-310001823766us-gaap:EquipmentMember2020-01-012020-12-3100018237662020-01-012020-12-310001823766us-gaap:CommonClassAMember2021-01-012021-12-310001823766us-gaap:CommonClassAMember2020-01-012020-12-310001823766lfg:RedeemableNoncontrollingInterestsMember2019-12-310001823766lfg:MembersEquityMember2019-12-310001823766lfg:MembersRetainedEarningsMember2019-12-310001823766us-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-12-310001823766us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-12-310001823766us-gaap:AdditionalPaidInCapitalMember2019-12-310001823766us-gaap:RetainedEarningsMember2019-12-310001823766us-gaap:NoncontrollingInterestMember2019-12-3100018237662019-12-310001823766lfg:MembersRetainedEarningsMember2020-01-012020-12-310001823766us-gaap:NoncontrollingInterestMember2020-01-012020-12-310001823766lfg:MembersEquityMember2020-01-012020-12-310001823766lfg:RedeemableNoncontrollingInterestsMember2020-12-310001823766lfg:MembersEquityMember2020-12-310001823766lfg:MembersRetainedEarningsMember2020-12-310001823766us-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-12-310001823766us-gaap:CommonClassBMemberus-gaap:CommonStockMember2020-12-310001823766us-gaap:AdditionalPaidInCapitalMember2020-12-310001823766us-gaap:RetainedEarningsMember2020-12-310001823766us-gaap:NoncontrollingInterestMember2020-12-310001823766lfg:MembersRetainedEarningsMember2021-01-012021-09-140001823766us-gaap:NoncontrollingInterestMember2021-01-012021-09-1400018237662021-01-012021-09-140001823766lfg:MembersEquityMember2021-01-012021-12-310001823766lfg:MembersRetainedEarningsMember2021-01-012021-12-310001823766us-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-01-012021-12-310001823766us-gaap:AdditionalPaidInCapitalMember2021-01-012021-12-310001823766us-gaap:RetainedEarningsMember2021-01-012021-12-310001823766us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-01-012021-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-01-012021-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:AdditionalPaidInCapitalMemberus-gaap:CommonClassBMember2021-01-012021-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassBMember2021-01-012021-12-310001823766lfg:RedeemableNoncontrollingInterestsMember2021-01-012021-12-310001823766us-gaap:RetainedEarningsMemberus-gaap:CommonClassAMember2021-01-012021-12-310001823766us-gaap:RetainedEarningsMember2021-09-152021-12-310001823766us-gaap:NoncontrollingInterestMember2021-09-152021-12-3100018237662021-09-152021-12-310001823766us-gaap:NoncontrollingInterestMember2021-01-012021-12-310001823766lfg:RedeemableNoncontrollingInterestsMember2021-12-310001823766lfg:MembersEquityMember2021-12-310001823766lfg:MembersRetainedEarningsMember2021-12-310001823766us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-12-310001823766us-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-12-310001823766us-gaap:AdditionalPaidInCapitalMember2021-12-310001823766us-gaap:RetainedEarningsMember2021-12-310001823766us-gaap:NoncontrollingInterestMember2021-12-31lfg:landfilllfg:state0001823766lfg:ProjectsThatProducePipelineQualityRNGMember2021-01-012021-12-31lfg:project0001823766lfg:LFGToElectricProjectMember2021-01-012021-12-31lfg:facility0001823766lfg:ArchaeaMemberlfg:OpcoMemberus-gaap:ParentMember2021-12-31xbrli:pure0001823766lfg:ArchaeaMemberlfg:OpcoMemberus-gaap:ParentMember2021-09-150001823766lfg:OpcoMemberus-gaap:ParentMember2021-12-310001823766lfg:OpcoMemberus-gaap:ParentMember2021-09-150001823766lfg:OpcoMemberlfg:AriaHoldersMemberus-gaap:NoncontrollingInterestMember2021-12-310001823766lfg:OpcoMemberlfg:AriaHoldersMemberus-gaap:NoncontrollingInterestMember2021-09-150001823766lfg:LegacyArchaeaHoldersMemberlfg:OpcoMemberus-gaap:NoncontrollingInterestMember2021-12-310001823766lfg:LegacyArchaeaHoldersMemberlfg:OpcoMemberus-gaap:NoncontrollingInterestMember2021-09-150001823766lfg:SponsorAtlasAndRACIndependentDirectorsMemberlfg:OpcoMemberus-gaap:NoncontrollingInterestMember2021-12-310001823766lfg:SponsorAtlasAndRACIndependentDirectorsMemberlfg:OpcoMemberus-gaap:NoncontrollingInterestMember2021-09-150001823766lfg:OpcoMemberus-gaap:NoncontrollingInterestMember2021-12-310001823766lfg:OpcoMemberus-gaap:NoncontrollingInterestMember2021-09-150001823766lfg:OpcoMember2021-12-310001823766lfg:OpcoMember2021-09-150001823766lfg:A375TermNoteMemberus-gaap:SeniorNotesMember2021-12-310001823766us-gaap:SeniorNotesMemberlfg:A447TermNoteMember2021-12-310001823766us-gaap:MachineryAndEquipmentMembersrt:MinimumMember2021-01-012021-12-310001823766srt:MaximumMemberus-gaap:MachineryAndEquipmentMember2021-01-012021-12-310001823766us-gaap:BuildingAndBuildingImprovementsMembersrt:MinimumMember2021-01-012021-12-310001823766srt:MaximumMemberus-gaap:BuildingAndBuildingImprovementsMember2021-01-012021-12-310001823766srt:MinimumMemberlfg:ComputerSoftwareAndHardwareMember2021-01-012021-12-310001823766srt:MaximumMemberlfg:ComputerSoftwareAndHardwareMember2021-01-012021-12-310001823766us-gaap:FurnitureAndFixturesMembersrt:MinimumMember2021-01-012021-12-310001823766srt:MaximumMemberus-gaap:FurnitureAndFixturesMember2021-01-012021-12-310001823766us-gaap:AccountingStandardsUpdate201602Memberus-gaap:SubsequentEventMember2022-01-010001823766us-gaap:CommonClassBMember2021-09-152021-09-1500018237662021-09-152021-09-150001823766us-gaap:CommonClassAMember2021-09-150001823766us-gaap:CommonClassBMember2021-09-150001823766lfg:PublicWarrantsMember2021-09-150001823766us-gaap:PrivatePlacementMember2021-09-150001823766us-gaap:CommonClassAMember2021-04-072021-04-070001823766us-gaap:CommonClassAMember2021-04-0700018237662021-04-070001823766lfg:PublicWarrantsMember2021-04-0700018237662021-09-132021-09-1300018237662021-09-130001823766us-gaap:CommonClassAMember2021-09-132021-09-130001823766us-gaap:CommonClassAMember2021-09-130001823766lfg:ForwardPurchaseAgreementMember2021-09-152021-09-150001823766us-gaap:CommonClassAMemberlfg:ForwardPurchaseAgreementMember2021-09-150001823766lfg:ForwardPurchaseAgreementMemberlfg:PublicWarrantsMember2021-09-150001823766lfg:AriaEnergyLLCMember2021-09-152021-09-150001823766lfg:AriaEnergyLLCMemberlfg:OpcoClassAMember2021-09-152021-09-150001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassBMember2021-09-152021-09-150001823766lfg:AriaEnergyLLCMember2021-09-150001823766lfg:AriaEnergyLLCMemberlfg:BiogasRightsAgreementsMember2021-09-152021-09-150001823766lfg:AriaEnergyLLCMemberlfg:ElectricityOffTakeAgreementsMember2021-09-152021-09-150001823766lfg:AriaEnergyLLCMemberlfg:OperationsAndMaintenanceContractsMember2021-09-152021-09-150001823766lfg:AriaEnergyLLCMemberlfg:RNGPurchaseContractMember2021-09-152021-09-150001823766lfg:AriaEnergyLLCMemberlfg:GasOffTakeAgreementLiabilitiesMember2021-09-152021-09-150001823766lfg:AriaEnergyLLCMember2021-10-012021-12-310001823766lfg:AriaEnergyLLCMember2021-01-012021-12-310001823766lfg:AriaEnergyLLCMember2021-12-310001823766lfg:AriaEnergyLLCMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassAMember2021-09-150001823766us-gaap:LoanPurchaseCommitmentsMemberlfg:GulfCoastEnvironmentalSystemsLLCMember2021-01-140001823766us-gaap:LoanPurchaseCommitmentsMemberlfg:GulfCoastEnvironmentalSystemsLLCMember2020-01-142020-01-140001823766us-gaap:LoansMemberlfg:GulfCoastEnvironmentalSystemsLLCMember2020-01-142020-01-140001823766lfg:GulfCoastEnvironmentalSystemsLLCMember2020-02-290001823766lfg:GulfCoastEnvironmentalSystemsLLCMember2021-12-310001823766lfg:GulfCoastEnvironmentalSystemsLLCMember2020-01-140001823766lfg:RenewableNaturalGasIncludingRenewableIdentificationNumbersAndLowCarbonFuelStandardMember2021-01-012021-12-310001823766lfg:RenewableNaturalGasIncludingRenewableIdentificationNumbersAndLowCarbonFuelStandardMember2020-01-012020-12-310001823766lfg:GasServiceMember2021-01-012021-12-310001823766lfg:GasServiceMember2020-01-012020-12-310001823766lfg:PowerIncludingRenewableEnergyCreditsMember2021-01-012021-12-310001823766lfg:PowerIncludingRenewableEnergyCreditsMember2020-01-012020-12-310001823766lfg:ElectricServiceMember2021-01-012021-12-310001823766lfg:ElectricServiceMember2020-01-012020-12-310001823766us-gaap:ProductAndServiceOtherMember2021-01-012021-12-310001823766us-gaap:ProductAndServiceOtherMember2020-01-012020-12-3100018237662022-01-012021-12-3100018237662024-01-012021-12-3100018237662026-01-012021-12-3100018237662028-01-012021-12-3100018237662030-01-012021-12-3100018237662032-01-012021-12-310001823766us-gaap:MachineryAndEquipmentMember2021-12-310001823766us-gaap:MachineryAndEquipmentMember2020-12-310001823766us-gaap:BuildingAndBuildingImprovementsMember2021-12-310001823766us-gaap:BuildingAndBuildingImprovementsMember2020-12-310001823766us-gaap:FurnitureAndFixturesMember2021-12-310001823766us-gaap:FurnitureAndFixturesMember2020-12-310001823766us-gaap:ConstructionInProgressMember2021-12-310001823766us-gaap:ConstructionInProgressMember2020-12-310001823766us-gaap:LandMember2021-12-310001823766us-gaap:LandMember2020-12-310001823766lfg:MavrixMemberlfg:TwoJointVenturesMember2021-12-310001823766lfg:MavrixMember2017-09-300001823766lfg:MavrixMembersrt:MaximumMember2017-09-300001823766lfg:MavrixMember2021-01-012021-12-310001823766lfg:MavrixAndSunshineGasProducersMember2021-12-310001823766lfg:MavrixAndSunshineGasProducersMember2021-01-012021-12-310001823766lfg:MavrixMember2021-12-310001823766lfg:MavrixMember2021-10-012021-12-310001823766lfg:SunshineGasProducersLLCMember2021-01-012021-12-310001823766lfg:SaturnRenewablesLLCMember2021-12-302021-12-300001823766lfg:SaturnRenewablesLLCMemberlfg:SaturnRenewablesLLCMember2021-12-300001823766lfg:SmallerInvestmentsMember2021-12-310001823766lfg:BiogasRightsAgreementsMember2021-12-310001823766lfg:ElectricityOffTakeAgreementsMember2021-12-310001823766lfg:OperationsAndMaintenanceContractsMember2021-12-310001823766lfg:RNGPurchaseContractMember2021-12-310001823766us-gaap:CustomerRelationshipsMember2021-12-310001823766us-gaap:TradeNamesMember2021-12-310001823766lfg:BiogasRightsAgreementsMember2020-12-310001823766us-gaap:CustomerRelationshipsMember2020-12-310001823766us-gaap:TradeNamesMember2020-12-310001823766lfg:RNGPurchaseContractMember2021-01-012021-12-310001823766srt:MinimumMember2021-12-310001823766srt:MaximumMember2021-12-310001823766lfg:GulfCoastEnvironmentalSystemsLLCGCESMembersrt:AffiliatedEntityMember2021-01-012021-12-310001823766lfg:NewCreditAgreementMemberus-gaap:SecuredDebtMember2021-12-310001823766lfg:NewCreditAgreementMemberus-gaap:SecuredDebtMember2020-12-310001823766lfg:A447TermNoteMemberus-gaap:SeniorSubordinatedNotesMember2021-12-310001823766lfg:A447TermNoteMemberus-gaap:SeniorSubordinatedNotesMember2020-12-310001823766lfg:A375TermNoteMemberus-gaap:SeniorSubordinatedNotesMember2021-12-310001823766lfg:A375TermNoteMemberus-gaap:SeniorSubordinatedNotesMember2020-12-310001823766lfg:ComericaBankSpecificAdvanceFacilityNoteMemberus-gaap:LineOfCreditMember2021-12-310001823766lfg:ComericaBankSpecificAdvanceFacilityNoteMemberus-gaap:LineOfCreditMember2020-12-310001823766lfg:ComericaTermLoanMemberus-gaap:LoansPayableMember2021-12-310001823766lfg:ComericaTermLoanMemberus-gaap:LoansPayableMember2020-12-310001823766us-gaap:NotesPayableOtherPayablesMemberlfg:KubotaCorporationTermNotesMember2021-12-310001823766us-gaap:NotesPayableOtherPayablesMemberlfg:KubotaCorporationTermNotesMember2020-12-310001823766lfg:NewCreditAgreementMember2021-09-150001823766lfg:NewCreditAgreementMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2021-09-150001823766lfg:NewCreditAgreementMemberus-gaap:SecuredDebtMember2021-09-150001823766lfg:NewCreditAgreementMemberus-gaap:SecuredDebtMember2021-09-152021-09-150001823766lfg:NewCreditAgreementMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2021-12-310001823766lfg:NewCreditAgreementMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-09-152021-09-150001823766lfg:NewCreditAgreementMemberus-gaap:PrimeRateMembersrt:MinimumMember2021-09-152021-09-150001823766lfg:NewCreditAgreementMembersrt:MaximumMemberus-gaap:PrimeRateMember2021-09-152021-09-150001823766lfg:A375TermNoteMemberus-gaap:SeniorSubordinatedNotesMember2021-01-150001823766lfg:A447TermNoteMemberus-gaap:SeniorSubordinatedNotesMember2021-01-150001823766lfg:AssaiSeniorSecuredNotesMember2021-01-012021-12-310001823766lfg:AssaiSeniorSecuredNotesMemberlfg:PEIPowerLLCMember2021-01-012021-12-310001823766lfg:ComericaMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2021-12-310001823766lfg:ComericaMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-12-310001823766lfg:SecuredPromissoryNotesMemberlfg:SecuredPromissoryNotesMember2021-07-260001823766lfg:SecuredPromissoryNotesMemberlfg:A165mSecuredPromissoryNotesMember2021-07-260001823766lfg:SecuredPromissoryNotesMemberlfg:A135mSecuredPromissoryNotesMember2021-07-260001823766lfg:SecuredPromissoryNotesMemberlfg:SecuredPromissoryNotesMember2021-07-152021-07-260001823766us-gaap:LineOfCreditMemberlfg:ComericaBankSpecificAdvanceFacilityNoteMemberus-gaap:LineOfCreditMember2020-11-100001823766lfg:ComericaTermLoanMemberus-gaap:SecuredDebtMember2020-11-100001823766us-gaap:LineOfCreditMemberlfg:CorporateCreditAccountMemberus-gaap:LineOfCreditMember2020-11-100001823766us-gaap:LineOfCreditMemberus-gaap:LineOfCreditMemberlfg:ComericaBankSpecificAdvanceFacilityNoteAndCommerciaTermLoanMember2021-01-012021-12-310001823766us-gaap:LineOfCreditMemberus-gaap:LineOfCreditMemberlfg:ComericaBankSpecificAdvanceFacilityNoteAndCommerciaTermLoanMember2020-01-012020-12-310001823766lfg:SecuredPromissoryNotesMemberlfg:NobleGuarantyMember2020-11-100001823766us-gaap:LoansMemberlfg:PaycheckProtectionProgramMember2020-01-012020-12-310001823766us-gaap:LoansMemberlfg:PaycheckProtectionProgramMemberlfg:GulfCoastEnvironmentalSystemsLLCGCESMember2020-01-012020-12-310001823766us-gaap:LoansMemberlfg:PaycheckProtectionProgramMember2020-12-310001823766lfg:PublicWarrantsAndForwardPurchaseWarrantsMember2021-12-310001823766us-gaap:PrivatePlacementMember2021-12-310001823766lfg:SalesPriceOfClassACommonStockEqualOrExceeds1000PerShareMember2021-12-310001823766lfg:PublicWarrantsAndForwardPurchaseWarrantsMemberlfg:SalesPriceOfClassACommonStockEqualOrExceeds1000PerShareMember2021-11-300001823766lfg:SalesPriceOfClassACommonStockEqualOrExceeds1000PerShareMember2021-01-012021-12-31utr:D0001823766lfg:SalesPriceOfClassACommonStockEqualOrExceeds1800PerShareMemberus-gaap:CommonClassAMember2021-12-310001823766lfg:SalesPriceOfClassACommonStockEqualOrExceeds1800PerShareMember2021-01-012021-12-310001823766lfg:SalesPriceOfClassACommonStockEqualOrExceeds1800PerShareMember2021-12-310001823766lfg:PublicWarrantsMemberus-gaap:CommonClassAMember2021-12-310001823766lfg:SalesPriceOfClassACommonStockEqualOrExceeds1800PerShareMemberus-gaap:CommonClassAMember2021-11-300001823766lfg:PublicWarrantsMember2021-11-300001823766lfg:ForwardPurchaseWarrantsMember2021-11-3000018237662021-11-012021-11-300001823766lfg:PublicWarrantsMemberus-gaap:CommonClassAMember2021-11-012021-11-300001823766us-gaap:CommonClassAMember2021-11-012021-11-300001823766us-gaap:PrivatePlacementMemberus-gaap:CommonClassAMember2021-01-012021-12-310001823766us-gaap:PrivatePlacementMemberus-gaap:MeasurementInputSharePriceMember2021-09-150001823766us-gaap:PrivatePlacementMemberus-gaap:MeasurementInputSharePriceMember2021-12-310001823766us-gaap:MeasurementInputExercisePriceMemberus-gaap:PrivatePlacementMember2021-09-150001823766us-gaap:MeasurementInputExercisePriceMemberus-gaap:PrivatePlacementMember2021-12-310001823766us-gaap:MeasurementInputPriceVolatilityMemberus-gaap:PrivatePlacementMember2021-09-150001823766us-gaap:MeasurementInputPriceVolatilityMemberus-gaap:PrivatePlacementMember2021-12-310001823766us-gaap:PrivatePlacementMemberus-gaap:MeasurementInputExpectedTermMember2021-09-15utr:Y0001823766us-gaap:PrivatePlacementMemberus-gaap:MeasurementInputExpectedTermMember2021-12-310001823766us-gaap:MeasurementInputRiskFreeInterestRateMemberus-gaap:PrivatePlacementMember2021-09-150001823766us-gaap:MeasurementInputRiskFreeInterestRateMemberus-gaap:PrivatePlacementMember2021-12-310001823766lfg:PublicAndPrivatePlacementWarrantsMember2021-09-150001823766lfg:PublicAndPrivatePlacementWarrantsMember2021-09-162021-12-310001823766lfg:PublicAndPrivatePlacementWarrantsMember2021-12-310001823766lfg:NaturalGasSwapMember2021-01-012021-12-31utr:MMBTU0001823766us-gaap:InterestRateSwapMember2021-12-310001823766us-gaap:InterestRateSwapMembersrt:ScenarioForecastMember2024-12-310001823766us-gaap:InterestRateSwapMember2020-12-310001823766lfg:NaturalGasSwapMember2021-12-310001823766lfg:NaturalGasSwapMember2020-12-310001823766us-gaap:WarrantMember2021-12-310001823766us-gaap:WarrantMember2020-12-310001823766lfg:NaturalGasSwapMemberlfg:SwapContractMemberlfg:GainLossOnGasSwapContractsMember2021-01-012021-12-310001823766lfg:NaturalGasSwapMemberlfg:SwapContractMemberlfg:GainLossOnGasSwapContractsMember2020-01-012020-12-310001823766us-gaap:WarrantMemberlfg:NaturalGasSwapMemberlfg:GainLossOnWarrantsLiabilitiesMember2021-01-012021-12-310001823766us-gaap:WarrantMemberlfg:NaturalGasSwapMemberlfg:GainLossOnWarrantsLiabilitiesMember2020-01-012020-12-310001823766lfg:GainLossOnInterestRateSwapContractMemberlfg:NaturalGasSwapMemberlfg:SwapContractMember2021-01-012021-12-310001823766lfg:GainLossOnInterestRateSwapContractMemberlfg:NaturalGasSwapMemberlfg:SwapContractMember2020-01-012020-12-310001823766lfg:NaturalGasSwapMember2021-01-012021-12-310001823766lfg:NaturalGasSwapMember2020-01-012020-12-310001823766us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Member2021-12-310001823766us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMember2021-12-310001823766us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateSwapMember2021-12-310001823766us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2021-12-310001823766us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-12-310001823766us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-12-310001823766us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-12-310001823766us-gaap:WarrantMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001823766lfg:NaturalGasSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-12-310001823766lfg:NaturalGasSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-12-310001823766lfg:NaturalGasSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-12-310001823766lfg:NaturalGasSwapMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001823766us-gaap:CommonClassBMember2021-01-012021-12-31lfg:vote0001823766lfg:OmnibusIncentivePlanThePlanMember2021-12-310001823766us-gaap:RestrictedStockUnitsRSUMember2021-12-292021-12-290001823766us-gaap:RestrictedStockUnitsRSUMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-12-292021-12-290001823766us-gaap:RestrictedStockUnitsRSUMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2021-12-292021-12-290001823766us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-12-310001823766us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-12-310001823766us-gaap:RestrictedStockUnitsRSUMember2021-12-310001823766us-gaap:RestrictedStockUnitsRSUMember2020-12-310001823766us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonClassAMember2021-01-012021-12-310001823766lfg:SeriesAUnitAwardsMemberlfg:SeriesAIncentivePlanMember2020-12-310001823766lfg:SeriesAUnitAwardsMemberlfg:SeriesAIncentivePlanMember2021-01-012021-12-310001823766lfg:SeriesAUnitAwardsMemberlfg:SeriesAIncentivePlanMember2021-12-310001823766lfg:SeriesAUnitAwardsMemberlfg:SeriesAIncentivePlanMember2020-01-012020-12-31lfg:plan0001823766srt:MaximumMember2021-01-012021-12-310001823766us-gaap:PostemploymentRetirementBenefitsMember2020-12-310001823766us-gaap:PostemploymentRetirementBenefitsMember2019-12-310001823766us-gaap:PostemploymentRetirementBenefitsMember2021-01-012021-12-310001823766us-gaap:PostemploymentRetirementBenefitsMember2020-01-012020-12-310001823766us-gaap:PostemploymentRetirementBenefitsMember2021-12-310001823766us-gaap:DomesticCountryMember2021-12-310001823766us-gaap:StateAndLocalJurisdictionMember2021-12-310001823766us-gaap:WarrantMember2021-01-012021-12-310001823766us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-12-31lfg:segment0001823766us-gaap:OperatingSegmentsMemberlfg:RenewableNaturalGasMember2021-01-012021-12-310001823766lfg:PowerMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001823766us-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310001823766us-gaap:OperatingSegmentsMember2021-01-012021-12-310001823766us-gaap:IntersegmentEliminationMemberlfg:RenewableNaturalGasMember2021-01-012021-12-310001823766lfg:PowerMemberus-gaap:IntersegmentEliminationMember2021-01-012021-12-310001823766us-gaap:CorporateAndOtherMemberus-gaap:IntersegmentEliminationMember2021-01-012021-12-310001823766us-gaap:IntersegmentEliminationMember2021-01-012021-12-310001823766lfg:RenewableNaturalGasMember2021-01-012021-12-310001823766lfg:PowerMember2021-01-012021-12-310001823766us-gaap:CorporateAndOtherMember2021-01-012021-12-310001823766lfg:RenewableNaturalGasMember2021-12-310001823766lfg:PowerMember2021-12-310001823766us-gaap:CorporateAndOtherMember2021-12-310001823766us-gaap:OperatingSegmentsMemberlfg:RenewableNaturalGasMember2020-01-012020-12-310001823766lfg:PowerMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001823766us-gaap:CorporateAndOtherMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310001823766us-gaap:OperatingSegmentsMember2020-01-012020-12-310001823766us-gaap:IntersegmentEliminationMemberlfg:RenewableNaturalGasMember2020-01-012020-12-310001823766lfg:PowerMemberus-gaap:IntersegmentEliminationMember2020-01-012020-12-310001823766us-gaap:CorporateAndOtherMemberus-gaap:IntersegmentEliminationMember2020-01-012020-12-310001823766us-gaap:IntersegmentEliminationMember2020-01-012020-12-310001823766lfg:RenewableNaturalGasMember2020-01-012020-12-310001823766lfg:PowerMember2020-01-012020-12-310001823766us-gaap:CorporateAndOtherMember2020-01-012020-12-310001823766lfg:RenewableNaturalGasMember2020-12-310001823766lfg:PowerMember2020-12-310001823766us-gaap:CorporateAndOtherMember2020-12-310001823766lfg:RNGPlantConstructionContractMembersrt:AffiliatedEntityMember2021-01-012021-12-310001823766srt:AffiliatedEntityMemberlfg:MavrixMember2021-09-152021-12-310001823766lfg:MavrixMember2021-12-310001823766lfg:AriaEnergyLLCMember2021-09-140001823766lfg:AriaEnergyLLCMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:ClassAUnitsMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:ClassAUnitsMember2020-12-310001823766lfg:ClassBUnitsMemberlfg:AriaEnergyLLCMember2021-09-140001823766lfg:ClassBUnitsMemberlfg:AriaEnergyLLCMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:ClassCUnitsMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:ClassCUnitsMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:EnergyServiceMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:EnergyServiceMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:ConstructionMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:ConstructionMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonStockMemberus-gaap:CommonClassAMember2019-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonStockMemberus-gaap:CommonClassCMember2019-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:RetainedEarningsMember2019-12-310001823766us-gaap:AccumulatedOtherComprehensiveIncomeMemberlfg:AriaEnergyLLCMember2019-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:ParentMember2019-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:NoncontrollingInterestMember2019-12-310001823766lfg:AriaEnergyLLCMember2019-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:RetainedEarningsMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:ParentMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:NoncontrollingInterestMember2020-01-012020-12-310001823766us-gaap:AccumulatedOtherComprehensiveIncomeMemberlfg:AriaEnergyLLCMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonStockMemberus-gaap:CommonClassAMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassBMemberus-gaap:CommonStockMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonStockMemberus-gaap:CommonClassCMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:RetainedEarningsMember2020-12-310001823766us-gaap:AccumulatedOtherComprehensiveIncomeMemberlfg:AriaEnergyLLCMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:ParentMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:NoncontrollingInterestMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:RetainedEarningsMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:ParentMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:NoncontrollingInterestMember2021-01-012021-09-140001823766us-gaap:AccumulatedOtherComprehensiveIncomeMemberlfg:AriaEnergyLLCMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassBMemberus-gaap:CommonStockMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:CommonStockMemberus-gaap:CommonClassCMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:RetainedEarningsMember2021-09-140001823766us-gaap:AccumulatedOtherComprehensiveIncomeMemberlfg:AriaEnergyLLCMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:ParentMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:NoncontrollingInterestMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:AresEIFManagementLLCMemberus-gaap:ParentMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:RenewableNaturalGasIncludingRenewableIdentificationNumbersAndLowCarbonFuelStandardMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:RenewableNaturalGasIncludingRenewableIdentificationNumbersAndLowCarbonFuelStandardMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberlfg:GasServiceMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:GasServiceMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberlfg:PowerIncludingRenewableEnergyCreditsMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:PowerIncludingRenewableEnergyCreditsMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberlfg:ElectricServiceMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:ElectricServiceMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:ProductAndServiceOtherMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:ProductAndServiceOtherMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberlfg:RenewableNaturalGasMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:RenewableNaturalGasMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberlfg:PowerMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:PowerMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMember2021-06-102021-06-100001823766lfg:AriaEnergyLLCMemberus-gaap:DiscontinuedOperationsHeldforsaleMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:LESPHMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:LESPHMember2020-01-012020-12-310001823766lfg:MavrixMemberlfg:AriaEnergyLLCMember2021-09-140001823766lfg:MavrixMemberlfg:AriaEnergyLLCMember2020-12-310001823766lfg:MavrixMemberlfg:AriaEnergyLLCMembersrt:MaximumMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:BuildingMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:BuildingMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:MachineryAndEquipmentMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:MachineryAndEquipmentMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:FurnitureAndFixturesMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:FurnitureAndFixturesMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:ConstructionInProgressMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:ConstructionInProgressMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:GasRightsAgreementsMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:OperationsAndMaintenanceContractsMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:GasSalesAgreementsMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:GasRightsAgreementsMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:OperationsAndMaintenanceContractsMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:GasSalesAgreementsMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:GasRightsAgreementsMembersrt:MinimumMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMembersrt:MaximumMemberlfg:GasRightsAgreementsMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:GasRightsAgreementsMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:GasRightsAgreementsMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberlfg:OperationsAndMaintenanceContractsMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:OperationsAndMaintenanceContractsMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberlfg:GasSalesAgreementsMembersrt:MinimumMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMembersrt:MaximumMemberlfg:GasSalesAgreementsMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:GasSalesAgreementsMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:GasSalesAgreementsMember2020-01-012020-12-310001823766lfg:GasPurchaseAgreementsMemberlfg:AriaEnergyLLCMember2021-09-140001823766lfg:GasPurchaseAgreementsMemberlfg:AriaEnergyLLCMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:MavrixAndSunshineGasProducersMemberlfg:TwoJointVenturesMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:RiverviewEnergySystemsAdrianEnergySystemsSalemEnergySystemsAndSaltLakeEnergySystemsMemberlfg:FourJointVenturesMember2021-06-300001823766lfg:MavrixMemberlfg:AriaEnergyLLCMember2017-09-300001823766lfg:MavrixMemberlfg:AriaEnergyLLCMember2021-01-012021-09-140001823766lfg:MavrixMemberlfg:AriaEnergyLLCMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberlfg:MavrixAndSunshineGasProducersMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:MavrixAndSunshineGasProducersMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:MavrixAndSunshineGasProducersMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:NotesPayableOtherPayablesMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:NotesPayableOtherPayablesMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:SecuredDebtMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:SecuredDebtMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:LESPHMember2021-03-010001823766lfg:AriaEnergyLLCMemberus-gaap:NotesPayableOtherPayablesMember2021-06-100001823766lfg:AriaEnergyLLCMemberus-gaap:NotesPayableOtherPayablesMember2021-06-102021-06-100001823766lfg:AriaEnergyLLCMemberus-gaap:SecuredDebtMemberus-gaap:RevolvingCreditFacilityMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:LineOfCreditMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:SecuredDebtMember2015-09-302015-09-300001823766lfg:AriaEnergyLLCMemberlfg:NaturalGasSwapMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:NaturalGasSwapMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:InterestRateCapMember2020-04-060001823766lfg:AriaEnergyLLCMemberus-gaap:InterestRateCapMember2020-04-300001823766lfg:AriaEnergyLLCMemberus-gaap:InterestRateCapMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:InterestRateCapMember2020-01-012020-12-310001823766us-gaap:OtherNoncurrentAssetsMemberlfg:AriaEnergyLLCMemberus-gaap:SwapMember2021-09-140001823766us-gaap:OtherNoncurrentAssetsMemberlfg:AriaEnergyLLCMemberus-gaap:SwapMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:DerivativeLiabilityNoncurrentMemberus-gaap:SwapMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:DerivativeLiabilityNoncurrentMemberus-gaap:SwapMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:PensionPlanFirstContributionMember2021-01-012021-12-310001823766lfg:AriaEnergyLLCMemberlfg:PensionPlanNextContributionMember2021-01-012021-12-310001823766us-gaap:PostemploymentRetirementBenefitsMemberlfg:AriaEnergyLLCMember2020-12-310001823766us-gaap:PostemploymentRetirementBenefitsMemberlfg:AriaEnergyLLCMember2019-12-310001823766us-gaap:PostemploymentRetirementBenefitsMemberlfg:AriaEnergyLLCMember2021-01-012021-09-140001823766us-gaap:PostemploymentRetirementBenefitsMemberlfg:AriaEnergyLLCMember2020-01-012020-12-310001823766us-gaap:PostemploymentRetirementBenefitsMemberlfg:AriaEnergyLLCMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:A100PricePerShareMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassAMemberlfg:A100PricePerShareMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassBMemberlfg:A100PricePerShareMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassCMemberlfg:A100PricePerShareMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:A010PricePerShareMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:A010PricePerShareMemberus-gaap:CommonClassAMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:A010PricePerShareMemberus-gaap:CommonClassBMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:A010PricePerShareMemberus-gaap:CommonClassCMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:A088PricePerShareMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:A088PricePerShareMemberus-gaap:CommonClassAMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:A088PricePerShareMemberus-gaap:CommonClassBMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:A088PricePerShareMemberus-gaap:CommonClassCMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassAMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassBMember2021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassCMember2021-09-140001823766lfg:AriaEnergyLLCMemberlfg:A100PricePerShareMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassAMemberlfg:A100PricePerShareMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassBMemberlfg:A100PricePerShareMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassCMemberlfg:A100PricePerShareMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:A010PricePerShareMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:A010PricePerShareMemberus-gaap:CommonClassAMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:A010PricePerShareMemberus-gaap:CommonClassBMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:A010PricePerShareMemberus-gaap:CommonClassCMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:A088PricePerShareMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:A088PricePerShareMemberus-gaap:CommonClassAMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:A088PricePerShareMemberus-gaap:CommonClassBMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:A088PricePerShareMemberus-gaap:CommonClassCMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassAMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassBMember2020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CommonClassCMember2020-12-310001823766lfg:AriaEnergyLLCMemberlfg:MavrixAndSunshineGasProducersMemberlfg:TwoJointVenturesMember2021-12-310001823766lfg:AriaEnergyLLCMemberlfg:RenewableNaturalGasMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:PowerMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberus-gaap:CorporateAndOtherMember2021-01-012021-09-140001823766lfg:AriaEnergyLLCMemberlfg:RenewableNaturalGasMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberlfg:PowerMember2020-01-012020-12-310001823766lfg:AriaEnergyLLCMemberus-gaap:CorporateAndOtherMember2020-01-012020-12-31

☒			ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Delaware			85-2867266
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, par value $0.0001 per share

LFG

The New York Stock Exchange

Large accelerated filer

☐

Accelerated filer

☐

Non-accelerated filer

☒

Smaller reporting company

☒

Emerging growth company

☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Portions of the registrant’s definitive proxy statement for the 2022 Annual Meeting of Stockholders, to be filed no later than 120 days after the end of the fiscal year to which this Annual Report on Form 10-K relates, are incorporated by reference into Part III of this Annual Report on Form 10-K.

TABLE OF CONTENTS

						Page
Commonly Used Terms and Definitions						2
Forward-Looking Statements						4
Summary of Risk Factors						4
PART I
Item 1.			Business			6
Item 1A.			Risk Factors			14
Item 1B.			Unresolved Staff Comments			37
Item 2.			Properties			37
Item 3.			Legal Proceedings			37
Item 4.			Mine Safety Disclosures			37
PART II
Item 5.			Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities			38
Item 6.			[Reserved]			38
Item 7.			Management's Discussion and Analysis of Financial Condition and Results of Operations			38
Item 7A.			Quantitative and Qualitative Disclosures About Market Risk			54
Item 8.			Financial Statements and Supplementary Data			55
Item 9.			Changes in and Disagreements with Accountants on Accounting and Financial Disclosure			114
Item 9A.			Controls and Procedures			114
Item 9B.			Other Information			115
Item 9C.			Disclosure Regarding Foreign Jurisdictions that Prevent Inspections			115
PART III
Item 10.			Directors, Executive Officers and Corporate Governance			115
Item 11.			Executive Compensation			118
Item 12.			Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters			118
Item 13.			Certain Relationships and Related Transactions and Director Independence			118
Item 14.			Principal Accounting Fees and Services			118
PART IV
Item 15.			Exhibits and Financial Statement Schedules			118
Item 16.			Form 10-K Summary			121

Archaea Borrower: Archaea Energy Operating LLC, a Delaware limited liability company, which was formerly named LFG Buyer Co, LLC

Archaea Merger: The transaction executed by the Archaea Merger Agreement

Archaea Merger Agreement: The Business Combination Agreement, dated April 7, 2021, as subsequently amended, pursuant to which, among other things, the Company acquired Legacy Archaea

Aria: Aria Energy LLC, a Delaware limited liability company, and its subsidiaries

Aria Holders: The members of Aria immediately prior to the Closing

Aria Merger: The transaction executed by the Aria Merger Agreement

Aria Merger Agreement: The Business Combination Agreement, dated as of April 7, 2021, as subsequently amended, pursuant to which, among other things, the Company acquired Aria

Atlas: Atlas Point Energy Infrastructure Fund, LLC, a Delaware limited liability company

Btu: British thermal units

Business Combination Agreements: The Aria Merger Agreement and the Archaea Merger Agreement

Business Combinations: The transactions contemplated by the Business Combination Agreements

CARB: California Air Resource Board

CI: Carbon intensity

Class A Common Stock: Class A Common Stock, par value $0.0001 per share, of the Company

Class A Opco Units: Class A Units of Opco

Class B Common Stock: Class B Common Stock, par value $0.0001 per share, of the Company

Class B Opco Units: Class B Units of Opco

Closing: The closing of the Business Combinations on September 15, 2021

CNG: Compressed natural gas

Common Stock: Class A Common Stock and the Class B Common Stock

Environmental Attributes: Federal, state and local government incentives in the United States, provided in the form of RINs, RECs, RTCs, LCFS credits, rebates, tax credits and other incentives to end users, distributors, system integrators and manufacturers of renewable energy projects, that promote the use of renewable energy.

EPA: The U.S. Environmental Protection Agency

EV: Equivalence Value, as assigned by the EPA based on renewable content of energy production

FERC: The Federal Energy Regulatory Commission

Forward Purchase Warrants: The 250,000 warrants issued in a private placement that closed simultaneously with the consummation of the Business Combinations on September 15, 2021

GAAP: Accounting principles generally accepted in the United States of America

GCES: Gulf Coast Environmental Services, LLC

GHG: Greenhouse gas

GSA: Gas Supply Agreement

Initial Public Offering: RAC’s initial public offering, which was consummated on October 26, 2020

ISO: Independent System Operator

Legacy Archaea: Archaea Energy LLC, a Delaware limited liability company, and its subsidiaries

Legacy Archaea Holders: The members of Legacy Archaea immediately prior to the Closing

LCFS: Low Carbon Fuel Standard

LFG: Landfill gas

LNG: Liquified natural gas

MBR: Market based rates

MMBtu: One million British thermal units

MW: Megawatt(s)

MWh: Megawatt hour(s)

NYSE: The New York Stock Exchange

Opco: LFG Acquisition Holdings LLC, a Delaware limited liability company, which was formerly named Rice Acquisition Holdings LLC

PIPE Financing: The private placement of 29,166,667 shares of Class A Common Stock for gross proceeds to the Company of $300 million in connection with the Business Combinations

PPA: Power Purchase Agreement

Private Placement Warrants: The 6,771,000 warrants originally issued to Sponsor and Atlas in a private placement that closed simultaneously with the consummation of the Initial Public Offering

Public Warrants: The 11,862,492 warrants originally sold as part of the units issued in the Initial Public Offering

QF: “Qualifying facility,” as such term is defined in the Public Utility Regulatory Policies Act of 1978

RAC: Rice Acquisition Corp., prior to the consummation of the Business Combination

RAC Intermediate: LFG Holdings LLC, a Delaware limited liability company, which was formerly named LFG Intermediate Co, LLC

RECs: Renewable Energy Credits

Redeemable Warrants: The Company's Public Warrants and Forward Purchase Warrants

RFS: Renewable Fuel Standard

RINs: Renewable Identification Numbers

RNG: Renewable natural gas

RPS: Renewable Portfolio Standards

RTO: Regional transmission organization

RTC: Renewable thermal certificate

SEC: U.S. Securities and Exchange Commission

Sponsor: Rice Acquisition Sponsor LLC, a Delaware limited liability company

VIE: Variable interest entity

•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 and the ability of the Company to grow and manage growth profitably and retain its management and key employees;

•the possibility that the Company may be adversely affected by other economic, business and/or competitive factors;

•the Company’s ability to develop and operate new projects;

•the reduction or elimination of government economic incentives to the renewable energy market;

•delays in acquisition, financing, construction, and development of new projects;

•the length of development cycles for new projects, including the design and construction processes for the Company’s projects;

•the Company’s ability to identify suitable locations for new projects;

•the Company’s dependence on landfill operators;

•existing regulations and changes to regulations and policies that affect the Company’s operations;

•decline in public acceptance and support of renewable energy development and projects;

•demand for renewable energy not being sustained;

•impacts of climate change, changing weather patterns and conditions, and natural disasters;

•the ability to secure necessary governmental and regulatory approvals; and

•the Company’s expansion into new business lines.

Summary Risk Factors

•Our commercial success depends on our ability to identify, acquire, develop and operate LFG projects, as well as our ability to expand production at our current production facilities.

•In order to secure contracts for new projects, we typically face a long and variable development cycle that requires significant resource commitments and a long lead time before we realize revenues.

•Our fixed-price contracts create the potential for operating losses in the event our variable costs rise unexpectedly.

•Although approximately 70% of our RNG volumes are expected to be contracted under long-term fixed-price off-take agreements, approximately 30% of our RNG volumes are expected to be contracted on a merchant pricing basis that exposes us to the risk of price fluctuations.

•A prolonged environment of low prices or reduced demand for electricity or RNG could have a material adverse effect on our long-term business prospects, financial condition and results of operations.

•We face competition both on the prices we receive for our electricity and RNG and for rights to manage or develop LFG projects.

•Our renewable energy production facilities may not produce expected levels of output, and the amount of LFG actually produced at each of our production facilities will vary over time and, when a landfill closes, eventually decline.

•Certain of our facilities are newly constructed or are under construction and may not perform as we expect.

•We currently own, and in the future may acquire, certain assets through joint ventures. As operating partner for some of our joint venture projects, we are exposed to counterparty credit risk, and as non-operating partner for other joint venture projects, we have limited control over management decisions and our interests in such assets may be subject to transfer or other related restrictions.

•We are dependent on contractual arrangements with, and the cooperation of, landfill site owners and operators for access to and operations on their sites.

•Our gas rights and off-take agreements are subject to certain conditions. A failure to satisfy those conditions could result in the loss of gas rights or the termination of an off-take agreement.

•Our substantial indebtedness could adversely affect our ability to raise additional capital to fund our operations and acquisitions. It could also expose us to the risk of increased interest rates and limit our ability to react to changes in the economy or our industry.

•Loss of our key management could adversely affect performance and the value of our common shares.

•Existing regulations and policies, and future changes to regulations and policies, may present technical, regulatory and economic barriers to the generation, purchase and use of renewable energy, and may adversely affect the market for credits associated with the production of renewable energy.

•Operation of LFG facilities involves significant risks and hazards customary to the energy industry. We may not have adequate insurance to cover these risks and hazards, or other risks that are beyond our control.

•Our operations, as well as those of our feedstock suppliers, are subject to numerous stringent environmental, health and safety laws and regulations that may expose us to significant costs and liabilities.

•Liabilities and costs associated with hazardous materials and contamination and other environmental conditions may require us to conduct investigations or remediation at the properties underlying our projects, may adversely impact the value of our projects or the underlying properties and may expose us to liabilities to third parties.

•We have significant customer concentration, with a limited number of purchasers accounting for a substantial portion of our revenues.

•Changes to applicable tax laws and regulations or exposure to additional income tax liabilities could affect our business and future profitability.

•Our business plans include expanding from LFG projects into other types of feedstocks or transmission projects. Any such expansions of non-LFG projects or transmission projects may present unforeseen challenges and result in a competitive disadvantage relative to our more-established competitors.

•We have a history of accounting losses and may incur additional losses in the future.

•We have identified material weaknesses in our internal control over financial reporting. We may identify additional material weaknesses in the future or otherwise fail to maintain an effective system of internal controls, which may result in material misstatements of our financial statements or cause us to fail to meet our reporting obligations.

PART I

We are planning to procure additional RNG development opportunities by securing gas rights agreements for additional landfill sites, and we may explore development of other biogas sources. We are also pursuing carbon capture and sequestration opportunities, including the development of wells for carbon sequestration, and we are pursuing the use of on-site solar-generated electricity to meet energy needs for RNG production, lower the carbon intensity of future biogas projects and reduce the carbon footprint of our partners, including our biogas host and commercial customers. Lowering the carbon intensity of our RNG is a key initiative that can enhance the value of our Environmental Attributes in certain markets. In addition to our carbon capture and sequestration and solar initiatives, we are pursuing the development and production of renewable hydrogen utilizing our landfill gas sources, which we would intend to sell under long-term fixed-price agreements into the emerging hydrogen economy.

The up-C structure allows the Legacy Archaea Holders, the Aria Holders and the Sponsor to retain their equity ownership through Opco, an entity that is classified as a partnership for U.S. federal income tax purposes, in the form of Class A Opco Units, and provides potential future tax benefits for Archaea when those holders of Class A Opco Units ultimately exchange their Class A Opco Units and shares of the Company’s Class B Common Stock for shares of Class A Common Stock in the Company. Opco is considered a VIE for accounting purposes, and the Company, as the sole managing member of Opco, is considered the primary beneficiary. As such, the Company consolidates Opco, and the unitholders that hold economic interests directly in Opco are presented as redeemable noncontrolling interests in the Company’s financial statements.

As of March 15, 2022, we have 12 RNG and 19 LFG to electricity facilities (including three RNG facilities completed and seven electricity facilities acquired since we announced the Business Combinations in April 2021). We currently have 20 projects in our 2022 development plans; however, the timing and ultimate number of projects completed in 2022 is subject to change due to various factors, some of which are outside our control. The tables below provide information for each of our production facilities:

Site						Location
Assai						Dunmore, PA
Boyd County						Ashland, KY
Butler						David City, NE
Canton (JV)						Canton, MI
KC LFG						Johnson County, KS
North Shelby (JV)						Millington, TN
Oklahoma City						Oklahoma City, OK
SE Oklahoma City (JV)						Oklahoma City, OK
Seneca Gas						Waterloo, NY
Soares (Dairy)						Madera, CA
South Shelby (JV)						Memphis, TN
SWACO						Grove City, OH

Site						Location
Athens-Clarke						Winterville, GA
Colonie						Cohoes, NY
County Line						Argos, IN
DANC						Rodman, NY
Emerald						Graham, WA
Erie						Erie, CO
Fulton						Johnstown, NY
Hernando County						Brooksville, FL
Hickory Meadows (JV)						Hilbert, WI
Johnston						Smithfield, NC
Model City						Youngstown, NY
Modern						Youngstown, NY
Ontario						Stanley, NY
PEI Power						Archbald, PA
Rochelle						Rochelle, IL
Sarasota						Nokomis, FL
Seneca Power						Waterloo, NY
Sunshine Canyon (JV, non-operated)						Sylmar, CA
TRG						Church Hill, TN

There are many other companies operating in the renewable energy and RNG production space, and we face competition both on rights to manage or develop LFG projects and the prices we receive for our RNG and renewable electricity. In the LFG industry, we believe our primary competitors are other LFG companies with existing projects and landfill owners that either operate their own LFG projects or may do so in the future. We compete with these companies to acquire LFG rights for additional project development, existing LFG projects, or in some cases to renew or extend existing gas rights. Increased competition for such projects may increase the price we pay for gas rights, the acquisition costs for existing projects or the royalties or other payments we have to pay landfill owners, which may have a material adverse effect on our results of operations. We may also find ourselves competing more frequently with landfill owners to the extent they decide to exercise their purchase rights that exist under certain of our gas rights agreements or otherwise develop their own LFG projects, which would also reduce the number of opportunities for us to develop new LFG projects. We also compete with other RNG developers for long-term fixed-price off-take agreements with existing and potential buyers of RNG.

•the Clean Air Act (“CAA”), which regulates air emission pollutants, GHG emissions and reciprocating engines subject to Maximum Achievable Control Technology standards;

•the Clean Water Act (“CWA”), which establishes the extent to which waterways are subject to federal jurisdiction and serves to regulate the discharge of wastewater from our facilities into state and federal waters;

•the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”), also known as the Superfund law, which regulates the cleanup of hazardous substances that may have been released at properties currently or previously owned or operated by us or locations to which we have sent hazardous substances for disposal;

•the Energy Policy Act of 2005 (“EPAct”), which, among other things, establishes requirements for minimum volumes of renewable fuels in transportation fuel;

•the Occupational Safety and Health Act (“OSHA”), which establishes workplace standards for the protection of the health and safety of employees, including the implementation of hazard communications programs designed to inform employees about hazardous substances in the workplace, potential harmful effects of these substances and appropriate control measures;

•the Resource Conservation and Recovery Act (“RCRA”), which imposes requirements for the generation, storage, treatment, transportation and disposal of solid and hazardous wastes at or from our facilities; and

•various state and local laws, which may include analogs to the above or other or more stringent requirements.

Archaea furnishes or files with the Securities and Exchange Commission (the “SEC”) its Annual Reports on Form 10-K, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Archaea makes these documents available free of charge at www.archaeaenergy.com under the “Investors” tab as soon as reasonably practicable after they are filed or furnished with the SEC. In addition, corporate governance information, including our corporate governance guidelines and code of ethics, is also available on our investor relations website under the heading “Governance Documents.” Information on Archaea’s website is not incorporated by reference into this Annual Report on Form 10-K or any of the Company’s other filings with the SEC. The SEC also maintains an Internet website that contains reports, proxy statements and other information about issuers, like us, that file electronically with the SEC. The address of that website is www.sec.gov.

Our strategic success and financial results depend on our ability to identify, acquire, develop and operate LFG projects, as well as our ability to expand production at our current production facilities.

•regulatory changes that affect the value of RNG and related Environmental Attributes and its Carbon Intensity, which could have a significant effect on the financial performance of our projects and the number of potential projects with attractive economics;

•changes in energy commodity prices, such as natural gas and wholesale electricity prices, which could have a significant effect on our revenues and expenses;

•changes in pipeline gas quality standards or other regulatory changes that may limit our ability to transport RNG on pipelines for delivery to third parties or increase the costs of processing RNG to allow for such deliveries;

•changes in the broader waste collection industry, including changes affecting the waste collection and biogas potential of the landfill industry, which could limit the LFG resource that we currently target for our projects;

•substantial construction risks, including the risk of delay, that may arise due to forces outside of our control, including those related to engineering and environmental problems, inclement weather and labor disruptions;

•operating risks and the effect of disruptions on our business, including the effects of global health crises such as COVID-19, weather conditions, catastrophic events such as fires, explosions, earthquakes, droughts and acts of terrorism, and other force majeure events on us, our customers, suppliers, distributors and subcontractors;

•accidents involving personal injury or the loss of life, as a result of work conditions including, but not limited to, hazardous worksite site conditions and gas exposure;

•entering into markets where we have less experience, such as our projects for biogas recovery at livestock farms;

•the ability to obtain financing for a project on acceptable terms or at all and the need for substantially more capital than initially budgeted to complete projects and exposure to liabilities as a result of unforeseen environmental, construction, technological or other complications;

•failures or delays in obtaining desired or necessary land rights, including ownership, leases, easements, zoning rights and building permits;

•a decrease in the availability, pricing and timeliness of delivery of raw materials and components necessary for the construction or operation of projects;

•obtaining and keeping in good standing permits, authorizations and consents from local city, county, state and U.S. federal governments as well as local and U.S. federal governmental organizations;

•penalties, including potential termination, under short-term and long-term contracts for failing to deliver RNG in accordance with our contractual obligations;

•unknown regulatory changes for RNG which may increase the transportation cost for delivering under contracts in place;

•the consent and authorization of local utilities or other energy development off-takers to ensure successful interconnection to energy grids to enable power and gas sales; and

•difficulties in identifying, obtaining and permitting suitable sites for new projects.

•the purchase price we pay could significantly deplete our cash reserves or result in dilution to our existing stockholders;

•the acquired companies or assets may not improve our customer offerings or market position as planned;

•we may have difficulty integrating the operations and personnel of the acquired companies;

•key personnel and customers of the acquired companies may terminate their relationships with the acquired companies as a result of or following the acquisition;

•we may experience additional financial and accounting challenges and complexities in areas such as tax planning and financial reporting;

•we may incur additional costs and expenses related to complying with additional laws, rules or regulations in new jurisdictions;

•we may assume or be held liable for risks and liabilities (including for environmental-related costs) as a result of our acquisitions, some of which we may not discover during our due diligence or adequately adjust for in our acquisition arrangements;

•our ongoing business and management’s attention may be disrupted or diverted by transition or integration issues and the complexity of managing geographically diverse enterprises;

•we may incur one-time write-offs or restructuring charges in connection with an acquisition;

•we may acquire goodwill and other intangible assets that are subject to amortization or impairment tests, which could result in future charges to earnings; and

•we may not be able to realize the cost savings or other financial benefits we anticipated.

Our Archaea V1 plant design utilizes a standardized and modularized plant design, which we believe will enable us to reduce project development and construction time while simultaneously lowering project development costs, and we have planned our financial model, including our 2022 capital budget, based on these reduced cost expectations. If we are unsuccessful in implementing our Archaea V1 plant design or if we experience design or manufacturing defects or other failures of future plant builds as result of installing Archaea V1 plant designs, we could incur significant manufacturing and re-engineering costs. In addition, if implementing our Archaea V1 plant design does not achieve the cost reductions expected, it may harm our future profitability. Moreover, the ability of these facilities, including the facilities that will be

built with the Archaea V1 plant design, to meet our performance expectations is subject to the risks inherent in newly constructed RNG production facilities and the construction of such facilities, including delays or problems in construction, degradation of equipment in excess of our expectations, system failures, and outages. The failure of these facilities to perform as we expect could have a material adverse effect on our business, financial condition, results of operations and cash flows.

•being required to accept then-prevailing market terms in connection with any required refinancing of such indebtedness, which may be less favorable than existing terms;

•failure to refinance, or to comply with the covenants in the agreements governing, these obligations could result in an event of default under those agreements, which could be difficult to cure or result in our bankruptcy;

•our debt service obligations require us to dedicate a substantial portion of our cash flow to pay principal and interest on our debt, thereby reducing the funds available to us and our ability to borrow to operate and grow our business;

•our limited financial flexibility could reduce our ability to plan for and react to unexpected opportunities; and

•our substantial debt service obligations make us vulnerable to adverse changes in general economic, credit and capital markets, industry and competitive conditions and adverse changes in government regulation and place us at a disadvantage compared with competitors with less debt.

In addition, the up-C structure confers certain benefits upon the members of Opco that will not benefit the holders of Class A Common Stock to the same extent as it will benefit the Opco members. If Opco makes distributions to Archaea, the Opco members will be entitled to receive equivalent distributions from Opco on a pro rata basis. However, because Archaea must pay taxes, amounts ultimately distributed as dividends, if any in the future, to holders of Class A Common Stock are expected to be less on a per share basis than the amounts distributed by Opco to its members on a per unit basis. This and other aspects of the up-C structure may adversely impact the future trading market for the Class A Common Stock.

As of December 31, 2021, we have various operating leases for our corporate headquarters, other office space, warehouse, and facilities for periods ranging from one to eleven years.

As of December 31, 2021, we own, through wholly-owned entities or joint ventures, a diversified portfolio of 29 LFG recovery and processing facilities across 18 states, including 11 operated facilities that produce pipeline-quality RNG and 18 LFG to renewable electricity production facilities, including one non-operated facility and one facility that is not operational. See “Item 1. Business—Our Production Facilities and Projects” for further descriptions of our production facilities and projects, which information is incorporated into this item by reference.

The up-C structure allows the Legacy Archaea Holders, the Aria Holders, and the Sponsor to retain their equity ownership through Opco, an entity that is classified as a partnership for U.S. federal income tax purposes, in the form of Class A Opco Units, and provides potential future tax benefits for Archaea when those holders of Class A Opco Units ultimately exchange their Class A Opco Units and shares of the Company’s Class B Common Stock for shares of Class A Common Stock in the Company. Opco is considered a VIE for accounting purposes, and the Company, as the sole managing member of Opco, is considered the primary beneficiary. As such, the Company consolidates Opco, and the unitholders that hold economic interests directly at Opco are presented as redeemable noncontrolling interests in the Company’s financial statements.

•The Company’s future results of operations and financial position may not be comparable to Legacy Archaea’s or Aria’s historical results as a result of the Business Combinations and the Company’s ongoing development activities. Our results prior to the closing of the Business Combinations on September 15, 2021 only include Legacy Archaea, the accounting acquirer, whereas our results beginning on September 15, 2021 include the combined operations of Legacy Archaea and Aria as managed by the Company. In addition, both Legacy Archaea and Aria have experienced significant growth and expansion over the last two years, and the Company expects to continue to grow significantly through organic growth projects and acquisitions.

•Legacy Archaea was formed in November of 2018 and did not have significant assets, liabilities or operations until its acquisition of BioFuels San Bernardino Biogas, LLC in September of 2019, to acquire the LFG rights agreements with two landfills located in San Bernardino County, California. Subsequent to this acquisition, Legacy Archaea purchased a 72.2% controlling interest in GCES, an original equipment manufacturer of air, water, and soil remediation pollution control systems, in February 2020, and after the Business Combinations, the Company acquired an additional 27.8% controlling interest to obtain 100% ownership of GCES. In November 2020, Legacy Archaea acquired all of the outstanding membership interests in the Boyd County LFG to RNG facility in Ashland, Kentucky. In April 2021, Legacy Archaea purchased 100% of the outstanding membership interests in PEI Power LLC (“PEI”), a biogas fuel combustion power generating facility in Archbald, PA.

•As a result of the Business Combinations, the Company has hired and will need to hire additional personnel and implement procedures and processes to address public company regulatory requirements and customary practices. The Company expects to incur additional annual expenses as a public company that Legacy Archaea did not historically incur for, among other things, directors’ and officers’ liability insurance, director fees and additional internal and external accounting and legal and administrative resources, including increased audit and legal fees.

•There are differences in the way the Company will finance its operations as compared to the way our Successor or Predecessor financed its operations, which were primarily through equity and project debt financing. The Company received approximately $175 million in net proceeds from the Business Combinations, the PIPE Financing, and debt issuance after payment of the Aria Merger cash consideration and transaction expenses to fund the Company’s future growth projects. Upon consummation of the Business Combination, Archaea Borrower entered into a $470 million Revolving Credit and Term Loan Agreement (the “New Credit Agreement”) which provides for a senior secured revolving credit facility (the “Revolver”) with an initial commitment of $250 million and a senior secured term loan credit facility (the “Term Loan” and, together with the Revolver, the “Facilities”) with an initial commitment of $220.0 million. As of December 31, 2021, we had approximately $352.0 million of outstanding indebtedness, including $218.6 million of outstanding borrowings under the Term Loan and $133.4 million outstanding on our Assai Notes, and also had $235.8 million of available borrowing capacity and outstanding letters of credit of $14.2 million as of December 31, 2021 under the Revolver. The Company expects to fund our 2022 capital program through its project development activities with cash on hand from the proceeds of the Business Combinations and available funding under our credit facility as discussed below under “New Credit Facility.” Further, the Company may also determine to issue long-term debt securities to fund a portion of its capital program if market conditions allow. The Company cannot predict with certainty the timing, amount and terms of any future issuances of any such debt securities or whether they occur at all. The amount and timing of the future funding requirements will depend on many factors, including the pace and results of our acquisitions and project development efforts.

•As a corporation, the Company is subject to U.S. federal income and applicable state taxes to the extent it generates positive taxable income. Legacy Archaea and Aria and their subsidiaries (with the exception of one partially-owned subsidiary which filed income tax returns as a C corporation) are and were generally not subject to U.S. federal income tax at an entity level. Accordingly, the consolidated and combined net income in Legacy Archaea and Aria’s historical financial statements for periods prior to the consummation of the Business Combinations does not reflect the full tax expense the Company would have incurred if it were subject to U.S. federal income tax at an entity level during such periods.

															2021						2020
RNG sold (MMBtu)															1,482,124						—
Electricity sold (MWh)															309,083						—

(in thousands)																					2021						2020						$ Change
Revenues and other income																					$	77,126					$	6,523					$	70,603
Costs of sales																					62,513						4,889						57,624
Equity investment income (loss)																					5,653						—						5,653
General and administrative expenses																					43,827						4,371						39,456
Operating income (loss)																					(23,561)						(2,737)						(20,824)
Other income (expense), net																					(7,360)						501						(7,861)
Net income (loss)																					$	(30,921)					$	(2,236)					$	(28,685)

(in thousands)															2021						2020
Net income (loss)															$	(30,921)					$	(2,236)
Adjustments:
Interest expense															4,797						20
Depreciation, amortization and accretion															16,025						137
EBITDA															(10,099)						(2,079)
Net derivative activity															3,727						—
Amortization of intangibles and below-market contracts															(1,479)						—
Amortization of equity method investments basis difference															3,068						—
Depreciation and amortization adjustments for equity method investments															1,745						—
Share-based compensation															5,071						—
Acquisition transaction costs															3,045						—
Actuarial (gain) loss on postretirement plan															(917)						—
Adjusted EBITDA															$	4,161					$	(2,079)

															January 1 to September 14, 2021						Year Ended December 31, 2020
RNG sold (MMBtu)															2,983,816						4,325,757
Electricity sold (MWh)															469,299						863,959

(in thousands)																					January 1 to September 14, 2021						Year Ended December 31, 2020						$ Change
Revenues and other income																					$	117,589					$	138,881					$	(21,292)
Costs of sales																					72,269						112,590						(40,321)
Equity investment income (loss)																					19,777						9,298						10,479
General and administrative expenses																					33,737						20,782						12,955
Operating income (loss)																					32,707						(10,486)						43,193
Other income (expense), net																					51,813						(19,437)						71,250
Net income (loss)																					$	84,520					$	(29,923)					$	114,443

Legacy Archaea historically funded its operations and growth with equity and debt financing. The Company’s primary uses of cash have been to fund construction of RNG facilities and acquisitions of complementary businesses and LFG rights. The Company is expected to primarily finance its project development activities with cash on hand from the proceeds of the Business Combinations, available funding under our credit facility as discussed below under “New Credit Facility,” and, if we accelerate our growth plans, additional debt or share issuances. Further, the Company may also determine to issue long-term debt securities to fund a portion of its capital program if market conditions allow. The Company cannot predict with certainty the timing, amount and terms of any future issuances of any such debt securities or whether they occur at all. The amount and timing of the future funding requirements will depend on many factors, including the pace and results of our acquisitions and project development efforts. Under the Company's base 2022 capital expenditure budget, we expect to allocate $130 million to fund optimization projects and new build projects that are expected to be completed in 2022. As of December 31, 2021, we had the cash balance described in the paragraph below and approximately $352.0 million of outstanding indebtedness, including $218.6 million of outstanding borrowings under the Term Loan and $133.4 million outstanding on our Assai Notes, and also had $235.8 million of available borrowing capacity under the Revolver. We expect that existing cash and cash equivalents, positive cash flows from operations and available borrowings under our credit facility will be sufficient to support our working capital, capital expenditures and other cash requirements for at least the next twelve months. Accelerating our growth plans may require additional cash requirements, which would likely be funded with debt or share issuances. We may, to the extent market conditions are favorable, incur additional debt to, among other things, finance future acquisitions of businesses, assets, or biogas rights, fund development of projects in our backlog, respond to competition, or for general financial reasons alone.

(in thousands)			2021						2020
Cash used in operating activities			$	(28,112)					$	(5,834)
Cash used in investing activities			$	(694,551)					$	(42,319)
Cash provided by financing activities			$	814,233					$	49,226
Net increase in cash, cash equivalents and restricted cash			$	91,570					$	1,073

(in thousands)			December 31, 2020						Borrowings						Repayments						December 31, 2021
Comerica Bank - Specific Advance Facility Note			$	4,319					$	675					$	(4,994)					$	—
Comerica Bank - Previous Revolver			—						12,478						(12,478)						—
Comerica Term Loan			12,000						—						(12,000)						—
New Credit Agreement - Term Loan			—						220,000						(1,375)						218,625
New Credit Agreement - Revolver			—						—						—						—
Wilmington Trust - 4.47% Term Note (1)			—						60,828						—						60,828
Wilmington Trust - 3.75% Term Note (1)			—						72,542						—						72,542
Promissory Notes			—						30,000						(30,000)						—
Kubota Corporation - Term Notes			46						—						(46)						—
Total			$	16,365					$	396,523					$	(60,893)					$	351,995

(1) Borrowings were used primarily for construction of the Assai facility.

Material Cash Requirements

The Company applies Accounting Standards Codification (“ASC”) 805, Business Combinations, when accounting for acquisitions of a business under GAAP. Identifiable assets acquired, liabilities assumed and noncontrolling interest, if applicable, are recorded at their estimated fair values at the acquisition date. Significant judgment is required in determining the acquisition date fair value of the assets acquired and liabilities assumed, predominantly with respect to property, plant and equipment and intangible assets consisting of biogas contracts, existing purchase and sales contracts, trade names and customer relationships. Evaluations include numerous inputs, including forecasted cash flows that incorporate the specific attributes of each asset including future natural gas and electric prices, future Environmental Attribute pricing, cost inflation factors, and discount rates. For property, plant, and equipment, we consider the remaining useful life of equipment, current replacement costs for similar assets, and comparable market transactions. The Company evaluates all available information, as well as all appropriate methodologies, when determining the fair value of assets acquired, liabilities assumed, and noncontrolling interest, if applicable, in a business combination. In addition, once the appropriate fair values are determined, the Company must determine the remaining useful life for property, plant and equipment and the amortization period and method of amortization for each finite-lived intangible asset. The estimates of fair values of assets impact future depreciation and amortization and the initial amount of goodwill recorded.

			Archaea Energy Inc.
			Audited Consolidated Financial Statements
			Report of Independent Registered Public Accounting Firm (KPMG US LLP - PCAOB ID: 185)			56
			Consolidated Balance Sheets – As of December 31, 2021 and 2020			57
			Consolidated Statements of Operations – Years ended December 31, 2021 and 2020			58
			Consolidated Statements of Equity – Years ended December 31, 2021 and 2020			59
			Consolidated Statements of Cash Flows – Years ended December 31, 2021 and 2020			60
			Notes to Consolidated Financial Statements			61
			Aria Energy LLC (Predecessor)
			Audited Consolidated Financial Statements
			Report of Independent Registered Public Accounting Firm (KPMG US LLP - PCAOB ID: 185)			93
			Consolidated Balance Sheets – As of September 14, 2021 and December 31, 2020			94
			Consolidated Statements of Operations – For the period from January 1 to September 14, 2021 and for the year ended December 31, 2020			95
			Consolidated Statements of Comprehensive Income – For the period from January 1 to September 14, 2021 and for the year ended December 31, 2020			96
			Consolidated Statements of Equity – For the period from January 1 to September 14, 2021 and for the year ended December 31, 2020			97
			Consolidated Statements of Cash Flows – For the period from January 1 to September 14, 2021 and for the year ended December 31, 2020			98
			Notes to Consolidated Financial Statements			99

Opinion on the Consolidated Financial Statements

Consolidated Balance Sheets

(in thousands, except shares and per share data)			December 31, 2021						December 31, 2020
ASSETS
Current Assets
Cash and cash equivalents			$	77,860					$	1,496
Restricted cash			15,206						—
Accounts receivable, net			37,010						1,780
Inventory			9,164						—
Prepaid expenses and other current assets			21,225						4,730
Total Current Assets			160,465						8,006
Property, plant and equipment, net			350,583						52,368
Intangible assets, net			638,471						8,693
Goodwill			29,211						2,754
Equity method investments			262,738						—
Other non-current assets			9,721						2,460
Total Assets			$	1,451,189					$	74,281
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable - trade			$	11,096					$	14,845
Current portion of long-term debt, net			11,378						1,302
Accrued and other current liabilities			46,279						8,270
Total Current Liabilities			68,753						24,417
Long-term debt, net			331,396						14,773
Derivative liabilities			67,424						—
Below-market contracts			142,630						—
Asset retirement obligations			4,677						306
Other long-term liabilities			5,316						3,294
Total Liabilities			620,196						42,790
Commitments and Contingencies
Redeemable Noncontrolling Interests			993,301						—
Equity
Members' Equity			—						34,930
Members' Accumulated Deficit			—						(4,156)
Stockholders' Equity
Preferred stock, $0.0001 par value; 10,000,000 authorized; none issued and outstanding			—						—
Class A common stock, $0.0001 par value; 900,000,000 shares authorized; 65,122,200 shares issued and outstanding as of December 31, 2021 and no shares issued and outstanding as of December 31, 2020			7						—
Class B common stock, $0.0001 par value; 190,000,000 shares authorized; 54,338,114 shares issued and outstanding as of December 31, 2021 and no shares issued and outstanding as of December 31, 2020			5						—
Additional paid in capital			—						—
Accumulated deficit			(162,320)						—
Total Stockholders' Equity			(162,308)						—
Nonredeemable noncontrolling interests			—						717
Total Equity			(162,308)						31,491
Total Liabilities, Redeemable Noncontrolling Interests and Equity			$	1,451,189					$	74,281

									Year Ended December 31,
(in thousands, except shares and per share data)															2021						2020
Revenues and Other Income
Energy revenue															$	67,871					$	—
Other revenue															5,817						6,523
Amortization of intangibles and below-market contracts															3,438						—
Total Revenues and Other Income															77,126						6,523
Equity Investment Income, Net															5,653						—
Cost of Sales
Cost of energy															41,626						—
Cost of other revenues															4,862						4,752
Depreciation, amortization and accretion															16,025						137
Total Cost of Sales															62,513						4,889
General and administrative expenses															43,827						4,371
Operating Income (Loss)															(23,561)						(2,737)
Other Income (Expense)
Interest expense, net															(4,797)						(20)
Gain (loss) on derivative contracts															(3,727)						—
Other income (expense)															1,164						521
Total Other Income (Expense)															(7,360)						501
Income (Loss) Before Income Taxes															(30,921)						(2,236)
Income tax benefit															—						—
Net Income (Loss)															(30,921)						(2,236)
Net income (loss) attributable to nonredeemable noncontrolling interests															(712)						236
Net income (loss) attributable to Legacy Archaea															(18,744)						(2,472)
Net income (loss) attributable to redeemable noncontrolling interests															(6,312)						—
Net Income (Loss) Attributable to Class A Common Stock															$	(5,153)					$	—
Net income (loss) per Class A common share:
Net income (loss) – basic (1)															$	(0.09)					$	—
Net income (loss) – diluted (1)															$	(0.09)					$	—
Weighted average shares of Class A Common Stock outstanding:
Basic (1)															56,465,786						—
Diluted (1)															56,465,786						—

(1) Class A Common Stock is outstanding beginning September 15, 2021 due to the reverse recapitalization transaction as described in Note 4.

									Total Equity
																					Total Stockholders' Equity
(in thousands)			Redeemable Noncontrolling Interests						Members' Equity						Members' Accumulated Deficit						Class A Common Stock						Class B Common Stock						Additional Paid-in Capital						Accumulated Deficit						Nonredeemable Noncontrolling Interests						Total Equity
Balance - January 1, 2020			$	—					$	2,470					$	(1,683)					$	—					$	—					$	—					$	—					$	—					$	787
Net income (loss)			—						—						(2,473)						—						—						—						—						237						(2,236)
Members' equity contributions			—						32,460						—						—						—						—						—						—						32,460
Noncontrolling interest in acquired business acquisition			—						—						—						—						—						—						—						480						480
Balance - December 31, 2020			—						34,930						(4,156)						—						—						—						—						717						31,491
Net income (loss) prior to Closing			—						—						(18,744)						—						—						—						—						(534)						(19,278)
Members' equity contributions			—						70						—						—						—						—						—						—						70
Share-based compensation expense prior to Closing			—						2,349						—						—						—						—						—						—						2,349
Reclassification in connection with reverse recapitalization			—						(37,349)						22,900						—						3						37,346						(22,900)						—						—
Net cash contribution from the reverse recapitalization and PIPE Financing, net of warrant liability			—						—						—						5						1						346,266						—						—						346,272
Issuance of Class B Common Stock in Aria Merger			—						—						—						—						2						394,908						—						—						394,910
Reclassification to redeemable noncontrolling interest			408,762						—						—						—						—						(431,662)						22,900						—						(408,762)
Warrant exercises			—						—						—						1						—						193,540						—						—						193,541
Exchange of Class A Opco Units and Class B Common Stock for Class A Common Stock			(132,720)						—						—						1						(1)						132,720						—						—						132,720
Retirement of Class A Common Stock			—						—						—						—						—						—						(107,690)						—						(107,690)
Share-based compensation expense			—						—						—						—						—						2,721						—						—						2,721
Shares withheld for taxes on net settled awards			—						—						—						—						—						(950)						—						—						(950)
Net income (loss) after Closing			(6,312)						—						—						—						—						—						(5,153)						(178)						(5,331)
Acquisition of nonredeemable noncontrolling interests			—						—						—						—						—						(795)						—						(5)						(800)
Adjustment of redeemable noncontrolling interests to redemption amount			723,571						—						—						—						—						(674,094)						(49,477)						—						(723,571)
Balance - December 31, 2021			$	993,301					$	—					$	—					$	7					$	5					$	—					$	(162,320)					$	—					$	(162,308)

			Year Ended December 31,
(in thousands)			2021						2020
Cash flows from operating activities
Net income (loss)			$	(30,921)					$	(2,236)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation, amortization and accretion expense			16,025						137
Amortization of debt issuance costs			1,309						—
Amortization of intangibles and below-market contracts			(1,479)						—
Bad debt expense			353						76
Return on investment in equity method investments			8,273						—
Equity in earnings of equity method investments			(5,653)						—
Total (gains) losses on derivatives, net			3,727						—
Net cash received in settlement of derivatives			80						—
Forgiveness of Paycheck Protection Loan			(201)						(491)
Stock-based compensation expense			5,071						—
Changes in operating assets and liabilities:
Accounts receivable			(6,940)						(1,385)
Inventory			(149)						—
Prepaid expenses and other current assets			(7,660)						(3,252)
Accounts payable - trade			(211)						(246)
Accrued and other liabilities			276						1,563
Other non-current assets			(4,231)						—
Other long-term liabilities			(5,781)						—
Net cash used in operating activities			(28,112)						(5,834)
Cash flows from investing activities
Acquisition of Aria, net of cash acquired			(463,334)						—
Acquisition of assets and businesses, excluding Aria			(61,830)						(14,249)
Additions to property, plant and equipment			(139,467)						(20,169)
Purchases of biogas rights			(7,802)						(7,901)
Contributions to equity method investments			(22,175)						—
Return of investment in equity method investments			57						—
Net cash used in investing activities			(694,551)						(42,319)
Cash flows from financing activities
Borrowings on line of credit agreement			12,478						—
Repayments on line of credit agreement			(12,478)						—
Proceeds from long-term debt, net of issuance costs			367,930						16,075
Repayments of long-term debt			(48,415)						—
Proceeds from PPP Loan			—						691
Proceeds from reverse recapitalization and PIPE Financing			496,425						—
Capital contributions			70						32,460
Proceeds from Warrant exercises for Class A Common Stock			107,663						—
Repurchase of Class A Common Stock			(107,690)						—
Taxes paid on net share settled stock-based compensation awards			(950)						—
Acquisition of nonredeemable noncontrolling interest			(800)						—
Net cash provided by financing activities			814,233						49,226
Net increase (decrease) in cash, cash equivalents and restricted cash			91,570						1,073
Cash, cash equivalents and restricted cash - beginning of period			1,496						423
Cash, cash equivalents and restricted cash - end of period			$	93,066					$	1,496
Supplemental cash flow information
Cash paid for interest (1)			$	3,903					$	44
Non-cash investing activities
Accruals of property, plant and equipment and biogas rights incurred but not paid			$	20,296					$	17,542

(1) Net of capitalized interest of $7.9 million and $0.6 million for the years ended December 31, 2021 and 2020, respectively.

Archaea has retained its “up-C” structure, whereby (i) all of the equity interests in Aria and Legacy Archaea are held indirectly by Opco through RAC Buyer and RAC Intermediate, (ii) Archaea’s only assets are its equity interests in Opco, and (iii) Sponsor, Atlas, the RAC independent directors, the Legacy Archaea Holders and the Aria Holders own economic interests directly in Opco. In connection with the consummation of the Business Combinations, Rice Acquisition Holdings LLC was renamed LFG Acquisition Holdings LLC. In accordance with ASC 810 - Consolidation, Opco is considered a VIE with Archaea as its sole managing member and primary beneficiary. As such, Archaea consolidates Opco, and the remaining unitholders that hold economic interests directly in Opco are presented as redeemable noncontrolling interests on the Company’s financial statements.

			December 31, 2021												September 15, 2021
Equity Holder			Class A Opco Units						% Interest						Class A Opco Units						% Interest
Archaea			65,122,200						54.5		%				52,847,195						45.9		%
Total controlling interests			65,122,200						54.5		%				52,847,195						45.9		%
Aria Holders			15,056,379						12.6		%				23,000,000						20.0		%
Legacy Archaea Holders			33,350,385						27.9		%				33,350,385						29.0		%
Sponsor, Atlas and RAC independent directors			5,931,350						5.0		%				5,931,350						5.2		%
Total redeemable noncontrolling interests			54,338,114						45.5		%				62,281,735						54.1		%
Total			119,460,314						100.0		%				115,128,930						100.0		%