Redtail Renewables and Pacolet Milliken Launch Joint Venture to Advance Renewable Natural Gas Development

INDIANAPOLIS--(BUSINESS WIRE)--Sep 4, 2025--

Redtail Renewables, a leading renewable natural gas (RNG) developer and operator, and Pacolet Milliken, a private investment firm, today announced the formation of joint venture RPM Holdings (RPM), which launches with the acquisition of an RNG project located near Owensboro, Kentucky.

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The Owensboro project reflects the joint venture’s commitment to advancing renewable natural gas solutions across North America. The new partnership is also in advanced stages of planning an additional RNG project with plans to break ground by year end.

“We are excited to launch RPM with Pacolet Milliken and begin our partnership with projects already underway,” said Casey Holsapple, Redtail Renewables CEO. “Our combined expertise in renewable energy and operations will create a platform for future growth focused on mitigating methane emissions from landfills.”

“This partnership marks an important step in scaling our RNG portfolio, and we look forward to working with the experienced team at Redtail,” said Lance Jordan, Chief Investment Officer of Pacolet Power & Infrastructure. “With much of our portfolio dedicated to assets that advance decarbonization, this joint venture enhances our ability to deliver meaningful impact while accelerating the growth of renewable natural gas.”

The Owensboro RNG project at the West Daviess County landfill is near completion and will be fully operational before the end of the year. The project, which will capture landfill gas and turn it into renewable natural gas, is expected to generate up to 500,000 MMBtu annually and has a long-term commercial offtake agreement in place.

As part of the transaction, Redtail also acquired a second project at the Oneida-Herkimer Regional Landfill located in Boonville, New York. Redtail will continue the development and construction of that project.

Headquartered in Indianapolis, Redtail Renewables specializes in the development and operation of renewable energy projects that reduce greenhouse gas emissions and create long-term environmental and economic benefits. Redtail is sponsored by an equity commitment from Boston-based Inyarek Partners.

“We’re thrilled to see the company create value through RPM and immediately deliver with these project acquisitions,” said Paul Kaboub, Partner and Co-founder at Inyarek. “This joint venture and Redtail’s broader pipeline of opportunities highlights the strength of Redtail’s industry leadership and strategy. We’re confident in Redtail’s ability to execute on attractive opportunities in the current industry environment.”

Redtail is actively pursuing new opportunities and building a pipeline of RNG projects across the country. Learn more about Redtail’s renewable natural gas initiatives by visiting redtailrenewables.com.

Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Redtail and RPM in the acquisition.

About Redtail Renewables

Redtail Renewables is a leading renewable natural gas developer and operator. We are committed to utilizing innovative technologies and sustainable practices to harness the potential of renewable gas to generate clean, renewable energy used in the transportation and utility industries. Our team of experts is dedicated to enhancing revenue for our clients while also reducing greenhouse gas emissions and contributing to a cleaner environment.

About Pacolet Milliken

Pacolet Milliken, LLC is a leader in the institutional management of private investment capital. Headquartered in Greenville, SC, Pacolet is a family-owned investment firm that owns and manages a diverse set of power & infrastructure and real estate assets located across the United States. Pacolet Power & Infrastructure owns a diverse set of power, renewables and infrastructure assets, including a regulated electric portfolio, an industrial utilities company and a substantial solar, and landfill gas portfolio. Pacolet Real Estate has a national portfolio of industrial, multi-family, office and retail properties, and currently focuses on multi-family and industrial warehouse development in the Southeast, the Southwest and Southern California. In both Divisions, Pacolet seeks to positively impact the communities in which it operates and be a steward of the environment from a generational perspective.

About Inyarek Partners

Inyarek Partners is a Boston-based private equity firm focused on unlocking value in industrial services and the energy transition. The firm is on a mission to grow enduring businesses that are best positioned to capitalize on the rapidly evolving energy landscape and the industrial transformation related to it. Through nearly two decades building entrepreneurial energy companies, Inyarek’s founders bring long-term vision, industry-leading partner support and a calculated approach to risk that unites investment rigor with results.

Owensboro RNG project at the West Daviess County landfill

WASHINGTON (AP) — U.S. forces in the Caribbean Sea have seized another sanctioned oil tanker that the Trump administration says has ties to Venezuela, part of a broader U.S. effort to take control of the South American country’s oil.

Homeland Security Secretary Kristi Noem wrote on social media that the U.S. Coast Guard had boarded the Motor Tanker Veronica early Thursday. She said the ship had previously passed through Venezuelan waters and was operating in defiance of President Donald Trump’s "established quarantine of sanctioned vessels in the Caribbean.”

U.S. Southern Command said Marines and sailors launched from the aircraft carrier USS Gerald R. Ford to take part in the operation alongside a Coast Guard tactical team, which Noem said conducted the boarding as in previous raids. The military said the ship was seized “without incident.”

Noem posted a brief video that appeared to show part of the ship’s capture. The black-and-white footage showed helicopters hovering over the deck of a merchant vessel while armed troops dropped down on the deck by rope.

The Veronica is the sixth sanctioned tanker seized by U.S. forces as part of the effort by Trump’s administration to control the production, refining and global distribution of Venezuela’s oil products and the fourth since the U.S. ouster of Venezuela President Nicolás Maduro in a surprise nighttime raid almost two weeks ago.

The Veronica last transmitted its location on Jan. 3 as being at anchor off the coast of Aruba, just north of Venezuela’s main oil terminal. According to the data it transmitted at the time, it was partially filled with crude.

The ship is currently listed as flying the flag of Guyana and is considered part of the shadow fleet that moves cargoes of oil in violation of U.S. sanctions.

According to its registration data, the ship also has been known as the Galileo, owned and managed by a company in Russia. In addition, a tanker with the same registration number previously sailed under the name Pegas and was sanctioned by the U.S. Treasury Department for moving cargoes of illicit Russian oil.

As with prior posts about such raids, Noem and the military framed the seizure as part of an effort to enforce the law. Noem argued that the multiple captures show that “there is no outrunning or escaping American justice.”

However, other officials in Trump's Republican administration have made clear that they see the actions as a way to generate cash as they seek to rebuild Venezuela’s battered oil industry and restore its economy.

Trump met with executives from oil companies last week to discuss his goal of investing $100 billion in Venezuela to repair and upgrade its oil production and distribution. His administration has said it expects to sell at least 30 million to 50 million barrels of sanctioned Venezuelan oil.

This story has been corrected to show the Veronica is the fourth, not the third, tanker seized by U.S. forces since Maduro's capture.

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Alex Brandon)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

U.S. Homeland Security Secretary Kristi Noem speaks during a press conference, Thursday, Jan. 8, 2026, in New York. (AP Photo/Yuki Iwamura)

U.S. Homeland Security Secretary Kristi Noem speaks at a news conference at Harry Reid International Airport, Nov. 22, 2025, in Las Vegas. (AP Photo/Ronda Churchill, File)