Anaergia unit Rialto eyes another extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Nov. 22 – Anaergia Inc. subsidiary Rialto Bioenergy Facility, LLC is seeking another extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the Southern District of California.

Specifically, the company asked the court to extend the exclusive plan filing period through Jan. 18 from Dec. 21 and the exclusive solicitation period through March 19 from Feb. 19.

Certain milestones under the company’s recently approved debtor-in-possession facility with bondholders and trustee UMB Bank, NA include an auction being held on April 8, a sale hearing taking place on April 22, and a sale closing by April 30.

“The marketing and sale process is well underway and is anticipated to be a robust and competitive process that will span across the following approximately five months, through the end of April 2024,” the company said in the motion.

The debtor said it believes that a short extension of its exclusivity period is warranted given the present state of affairs and the current marketing and sale process that is being undertaken.

Anaergia is a Burlington, Ont.-based company that was created to turn organic waste into renewable natural gas, fertilizer and water, using proprietary technologies. Subsidiary Rialto Bioenergy is based in Carlsbad, Calif., and filed Chapter 11 bankruptcy on May 25 under case number 23-01467.

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