Streamline Innovations, a provider of environmentally-advanced treatment solutions for hydrogen sulfide (H2S), closed on a senior secured delayed draw term loan structured as a sustainability-linked loan. Riverstone Credit Partners, a dedicated credit investment platform focused on energy, power, decarbonization and infrastructure managed by Riverstone Holding, provided the financing.
Streamline Innovations will use proceeds from the financing to construct plants for treating natural gas production streams contaminated with toxic and corrosive H2S. The plants will be built for new Streamline customers in the energy sector and are expected to be placed into service during the first half of 2022.
Streamline’s patented chemistry and processes convert toxic H2S into water and pure elemental sulfur, which can be cleanly disposed of or used as fertilizer for agricultural purposes.
“Demand for our environmentally-forward solutions is accelerating rapidly, driving our need to secure additional financial resources,” Chip Van Os, CFO of Streamline Innovations, said. “We are excited to partner with Riverstone on this financing, which comes at the perfect time. Energy companies are committed to reducing their environmental footprint by seeking clean solutions to safely remove H2S from production streams and eliminate the flaring of toxic sour gas, which in turn eliminates SO2 emissions. Our ability to provide green, innovative solutions that deliver attractive economics to our customers uniquely positions us to be a leader in addressing H2S challenges in all of the markets we serve.”
“We are pleased to partner with Streamline to expand their Valkyrie treatment plant footprint,” Chris Abbate, a partner at Riverstone, said. “Streamline has a demonstrated track record of helping its customers across multiple end markets improve environmental performance, reduce emissions and achieve ESG goals.”
