Mobius Renewables Closes Acquisition of Air Liquide Biogas Assets in Four Countries
Mobius Renewables has completed the acquisition of Air Liquide’s biogas production operations across the United States, France, Norway, and Sweden. The deal brings six landfill gas-to-RNG sites in the U.S., five farm waste digestion sites in France, and a 51% stake in Redo Biosolutions — which holds production and distribution assets across Norway and Sweden — under a single platform.
The transaction marks the operational completion of Mobius Renewables as a company. Established in December 2025 by funds managed by IFM Investors and headquartered in Houston, the platform was built to consolidate RNG development, production, distribution, and commercialization at scale across North America and Europe. The acquired assets join GreenGasUSA under the Mobius Renewables brand; Redo Biosolutions will continue operating under its own name and strategy.
Combined output across the portfolio exceeds 5.5 million MMBtu of renewable natural gas annually, sourced from both landfill gas capture and anaerobic digestion of farm waste. That volume places Mobius among the larger independent RNG producers currently operating in Western markets.
Cynthia Walker, President and CEO, framed the close as the beginning of an operational phase rather than the end of a deal phase. The company’s stated priorities are improving existing site performance, investing in new projects, and pursuing further acquisitions under a disciplined growth framework. IFM’s involvement signals patient infrastructure capital rather than a near-term exit orientation — a positioning that has become relevant as RNG project economics face scrutiny tied to policy uncertainty around federal clean fuel incentives.
The sector is consolidating. Landfill gas and farm waste digestion represent the most commercially mature segments of the RNG supply chain, and aggregating operating assets under a single operator with access to institutional capital is a defensible strategy at this stage of the market’s development. Whether Mobius can execute on the operational improvement thesis across four countries and multiple feedstock types will determine whether the platform lives up to the scale it now claims on paper.