Apollo Funds Acquire Freedom CNG, a Leading Provider of Renewable Natural Gas Fueling Infrastructure

Company Overview - Apollo-managed funds have acquired a majority interest in Freedom CNG, which operates compressed natural gas (CNG) and renewable natural gas (RNG) fueling infrastructure in Texas [1][2] - Freedom CNG was founded in 2012 and has developed a network of high-capacity fueling stations in the Houston Metro area, serving various customers including logistics companies and municipalities [2][7] Growth Potential - Freedom has established relationships with blue-chip customers and has significant growth potential through both organic and inorganic initiatives [3] - The company aims to meet the increasing demand for low-carbon alternative fuels, leveraging its experience and resources from Apollo [3][4] Market Context - Transportation accounts for over 25% of U.S. energy consumption, highlighting the need for sustainable energy solutions [3] - CNG, particularly when sourced as RNG from landfills, offers a cost-effective alternative that significantly reduces emissions while maintaining operational efficiency [3] Investment Strategy - Over the past five years, Apollo-managed funds have invested approximately $40 billion in energy transition and sustainability-related projects, including renewable fuels and infrastructure [4] - Apollo's strategy focuses on supporting the energy transition and providing capital solutions for growth in the clean energy sector [6]