Cleantech Firm Uncovers Excellent Partnership Opportunity in Renewable Natural Gas Sector

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Environmental solutions pioneer Bion Environmental Technologies Inc. (BNET:OTCQB) announced the signing of a Memorandum of Understanding (MOU) with Kimmeridge Energy Management Company LLC, a private alternative asset manager specializing in the energy sector, according to a release from Bion on December 9.

This MOU establishes an initial framework to "explore the use of Bion's ammonia recovery technology at a large Renewable Natural Gas (RNG) facility." Bion and Kimmeridge will jointly fund and collaborate on engineering tasks, production of fertilizer samples, testing, agronomic validation, lifecycle analysis, and commercial strategy development. These initiatives aim to assess and negotiate a Joint Venture for implementing Bion's Ammonia Recovery System (ARS) at a potential RNG facility managed by a Kimmeridge affiliate.

"Several months ago, Bion set out to identify potential strategic partners in the biogas/RNG space who share a commitment to circular and sustainable solutions in agriculture and renewable fuels," Bion Chief Executive Officer Craig Scott said. "We are pleased to have found one in Kimmeridge. We believe our expertise and technology can complement their resources and their mission to develop environmentally responsible and economically sustainable energy assets. We look forward to continuing to work with them to explore that opportunity together."

As part of the agreement, Bion has provided Kimmeridge with a limited Right of First Refusal for a substantial equity investment in the company, at a premium over the current market value, during the evaluation phase. The MOU will be included as an exhibit in a Form 8-K to be filed on December 9, 2025, accessible at sec.gov or OTC Markets, the company said.

According to the company, it appears Bion is having success in its pursuit of strategic partners to develop projects in the renewable fuels and agriculture sectors. While there are no details on a specific Kimmeridge project or location, if one does move forward, it could be a real gem. The parallels between Kimmeridge's mission to develop energy projects that are both environmentally and economically sustainable and Bion's technology and abilities are hard to miss, the company noted.  It's also hard to miss that if a "large RNG facility" is big enough to move the needle for Kimmeridge, it's likely to be pretty big, said Bion.

A Vision of Sustainability

Established in 2012, Kimmeridge specializes in the energy sector, distinguished by its proprietary research, data analysis, and technical expertise, according to a paper on its investment policies on its website.

"We are committed to integrating sustainability factors throughout our firm's operations and investment analysis to enhance due diligence, risk management, and value creation," the company's website said. "By systematically considering core sustainability matters in our investment process, we believe that we strengthen our ability to deliver strong risk-adjusted returns. Our sustainability program, led by Kimmeridge's Sustainable Investment Team, supports our commitment to operating with integrity and generating sustainable long-term performance."

"I view Bion as a Speculative Buy at current stock price levels of US$0.18, with initial technical targets of US$0.45, US$0.90, and US$1.90," wrote John Newell. 

The private company said it holds the view that access to energy is crucial for economic development and the well-being of society.

"To that end, we support advancing the energy transition in various ways, including efforts to develop reliable energy at a lower cost," the paper noted. "We believe that responsible production of oil and natural gas will be important in transitioning to a lower-carbon economy."

Kimmeridge also noted that sustainability considerations are vital elements that guide how the company invests in and manages businesses and are integrated into every stage of its investment process and throughout the investment lifecycle.

"Our approach to sustainable investment across the energy landscape prioritizes safety, environmental stewardship, and social responsibility," Kimmeridge's website says.

Bion's homepage shows how the company fits into Kimmeridge's visions of sustainability. "Our circular approach supports agriculture, food production, and the renewable fuels industries by upcycling nutrients, reducing emissions, and improving air, water, and soil health," the site says.  "Bion's innovative technology not only prevents pollution, [but] it also enhances farm efficiency by producing high-value fertilizers that can be transported, stored, and precision-applied exactly when and where they are needed. This circular approach to resource recovery supports a cleaner, more sustainable future for food production, renewable energy, and agriculture."

Analyst: Stock Has Momentum Going Into 2026

Technical Analyst John Newell of Newell & Associates analyzed the company's stock chart and noted that it "tells the story of a long decline followed by stabilization."

"After trading as high as US$2.30, the stock entered a multi-year slide into early 2024, finally finding support around the US$0.10–0.12 range," Newell told Streetwise Reports. "Through most of 2025, the stock based quietly between US$0.15 and US$0.25, with the 30- and 90-day moving averages flattening out, often the first sign of a trend reversal."

He continued, "From a technical perspective, Bion is now in what I would call a classic 'early stage turnaround base.' Volume is low but steady, the downtrend is exhausted, and the company is entering a phase with real news flow potential."

According to Newell, price targets include US$0.45, which aligns with the first notable resistance band from early 2024; US$0.90, a return to the mid-range of the 2023 decline and a natural Fibonacci retracement level, and US$1.90, which corresponds to the breakdown level from early 2023 and the top of the last major consolidation.

He said the big picture target was US$1.90.

"If commercialization progresses and strategic partners come aboard, the chart has room to revisit this level over a multi-quarter horizon," Newell said. "This setup is what you often see with environmental tech companies transitioning from R&D into revenue."

Finally, the analyst said Bion is starting 2026 "with momentum."

"The technology has been validated, market interest is emerging, and the company has finally cleaned up a complicated share structure that hindered valuation for years," he said. "The bigger picture is worth noting: nutrient pollution is a growing global issue, organic fertilizer demand is accelerating, and biogas/RNG developers are under increasing pressure to address both economics and ammonia emissions. Bion's patented ARS and Gen3Tech systems sit directly in the path of those trends."

Newell said with the stock basing at historic lows and the company moving toward commercialization, the risk-reward profile appears attractive for speculative investors.

"I view Bion as a Speculative Buy at current stock price levels of US$0.18, with initial technical targets of US$0.45, US$0.90, and US$1.90."

Building Value From Waste Streams

Bion's groundbreaking organic ammonium bicarbonate (AB) fertilizers are produced by isolating ammonia-nitrogen from the digestate remaining after biogas generation and merging it with CO₂ captured during the upgrading of RNG, the company noted. This patented technique converts two environmentally challenging waste streams into a valuable, transportable, and precision-applied fertilizer.

Without recovery, ammonia can escape, causing air pollution, nutrient runoff, and groundwater contamination. Bion's leading AB10 product contains approximately 10% nitrogen and is OMRI Listed (Organic Materials Review Institute), the highest standard for organic production. Bion's AB fertilizer line will include a variety of concentrations and pH levels, introducing a new class of soluble organic nitrogen products that were previously unavailable and can significantly boost yields and profitability for organic crop growers. These fertilizers can command prices significantly higher than traditional synthetic nitrogen.

At an RNG facility, capturing and repurposing ammonia is a crucial component of a regenerative agricultural strategy that promotes nutrient recycling, enhances organic food production, and reduces the operation's carbon and environmental footprint, while improving soil health and protecting waterways.

The U.S. Department of Agriculture has identified the organic food sector as the fastest-growing segment of U.S. agriculture. It faces what is often referred to as the "organic yield gap" due to a shortage of affordable, readily available organic nitrogen. Bion stated that its ARS addresses this by capturing and upcycling ammonia from livestock waste, which is then transformed into low-carbon, organic nitrogen fertilizers. They will increase crop yields and production efficiencies,  which will in turn reduce the carbon footprint associated with organic farming.

Bion's ARS technology not only supports organic agriculture but also significantly reduces nitrogen runoff and off-gassing, helping to protect surface waters, aquifers, and the atmosphere. It also aids in restoring soil microbial balance and narrowing the yield gap between organic and conventional crops, the company has said.

The Catalyst: A Record Year for the Biogas Sector

The global biogas market is expected to grow by US$19.51 billion from 2024 to 2028, with a CAGR of 6.01%, according to a Technavio report. Europe significantly outpaces America in adopting technology to manage organic wastes. A 2022 report by Waste 360 indicated that there were about 17,500 such facilities in the European Union in 2016, compared to fewer than 350 in the U.S. However, a 2024 article by Ecohaz reported nearly 20,000 biogas plants in Europe, showing a growing trend. Meanwhile, America is beginning to catch up. A February 2025 report by the American Biogas Council highlighted a record year for the sector in 2024.

"In the 12 months ending in December, 125 new biogas projects came online, representing over US$3 billion in new U.S. investments. New projects in 2024 exceeded those in 2023 by 17%, while total investment in those projects increased by 40% compared to the previous year," the report stated. This increase brought the total number of U.S.-based biogas facilities to almost 2,500.

According to a report by Markets and Markets, the organic fertilizers market was valued at US$7.9 billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 11.5% through 2029, reaching US$13.6 billion. "The rising preference for environmentally conscious food fuels the growth of the organic fertilizers industry," the report noted. "This transition underscores a wider dedication to sustainable farming methods and reducing ecological damage." In response, governments around the world are implementing regulations and incentives to promote organic farming, thereby increasing the demand for organic fertilizers, as noted by Markets and Markets.

On a macro level, according to an analysis by Market Research Future, the Green Technology and Sustainability Market was valued at US$22.18 billion in 2024. The industry is expected to expand from US$23.66 billion in 2025 to US$45.14 billion by 2035, demonstrating a CAGR of 6.67% over the forecast period from 2025 to 2035.

Ownership and Share Structure¹

About 21% of Bion Environmental is owned by management and insiders, about 1% by strategic corporate entities, and less than 1% by institutions. The rest is with retail.

Bion has a market cap of US$10.52 million. Trading over the past 52 weeks ranged from US$0.04 per share to US$0.30.