Bain Capital Secures Stake Worth USD 400M in EcoCeres

As the Boston-based investor seeks to increase its sustainable investment, Bain Capital Private Equity announced the completion of a deal to acquire a stake in renewable fuel producer EcoCeres Inc.

In response to a question, Bain stated that it invested $400 million in growth capital for a significant stake in the company, making it one of the firm's largest transactions in Asia involving environmental, social, and governance (ESG) issues.

According to a filing about the transaction published on the website of China's State Administration for Market Regulation in November, EcoCeres would be mutually controlled by Bain Capital and Hong Kong & China Gas (HKCG), rather than being solely controlled by the latter.

According to a HKCG filing last year, EcoCeres raised a total of $108 million from Kerogen Capital in February and December 2021.

According to the company's website, EcoCeres' products include a type of biodiesel made from waste greases such as palm oil mill wastewater and used cooking oil.

According to Bain, the new funds will be used to build EcoCeres facilities in Malaysia to serve international clients and increase total output capacity.

According to its website, EcoCeres' main businesses include a biofuel plant in the eastern Chinese province of Jiangsu and two agricultural waste utilisation projects in Hebei province in northern China.