Waterous Energy Fund Acquires 43.3% Stake in Greenfire Resources Ltd.

Waterous Energy Fund Purchases Shares of Greenfire Resources Ltd.

November 14, 2025

Energy

Waterous Energy Fund Management Corp., acting for certain Waterous Energy Fund III partnerships, purchased 1,926,055 common shares of Greenfire Resources Ltd. in a private transaction for C$6.65 per share (C$12.81 million), increasing its ownership in Greenfire to approximately 71.1% on an undiluted basis. The purchase represents an incremental strategic investment by Waterous to consolidate its position in the Calgary-based oil sands producer.

Waterous Energy Fund Acquires Majority Stake in Greenfire Resources Ltd.

November 12, 2025

Oil & Gas

Waterous Energy Fund Management Corp., acting for Waterous Energy Fund (WEF), purchased 8,703,479 common shares of Greenfire Resources Ltd. for C$6.55 per share (C$57.0 million), increasing its ownership to approximately 68.3% of Greenfire on an undiluted basis. The private transactions gave WEF majority control of the Calgary-based oil and gas producer; WEF said it will continue to review its investment and may take further actions with respect to Greenfire's securities.

Waterous Energy Fund / Strathcona Acquires Caltex Resources Ltd. and Tucker Thermal Oil Property

March 14, 2022

Oil & Gas

Waterous Energy Fund (WEF) closed its fourth capital raise (~C$345 million) to fund the acquisitions of Caltex Resources Ltd. and the Tucker thermal oil property, and amalgamated those assets with Strathcona Resources Ltd. The combined entity will continue as Strathcona Resources (100% owned by WEF and Strathcona employees), creating one of North America’s largest private oil companies with pro forma production of ~110,000 Boe/d and 1.9 billion Boe of proved-plus-probable reserves.

Safe and Green Development Corporation Acquires Resource Group US Holdings LLC

June 3, 2025

Environmental Services

Safe and Green Development Corporation (NASDAQ: SGD) has completed the acquisition of Resource Group US Holdings LLC, a vertically integrated organics recycling and engineered soils business that operates a permitted composting facility, two green-waste aggregation sites and a transportation fleet. As consideration, SGD issued common stock, a new series of convertible preferred stock and unsecured promissory notes to the Resource Group equityholders; the Resource Group management team will remain in place to support integration and scaling of revenue-generating operations.

Fusion Fuel Green Acquires Controlling Stake in Quality Industrial Corp.

November 26, 2024

Energy

Fusion Fuel Green plc (NASDAQ: HTOO) completed a share-exchange acquisition of approximately 70% of Quality Industrial Corp. (QIND), appointing John-Paul Backwell as CEO and reorganizing senior leadership to support expanded energy engineering and hydrogen solutions. The transaction aims to strengthen Fusion Fuel’s engineering, supply and services capabilities in renewable energy and industrial gas markets; certain post-close approvals and a Nasdaq listing appeal remain outstanding.

IFM Net Zero Infrastructure Fund Acquires Majority Interest in GreenGasUSA

January 30, 2023

Energy

IFM Net Zero Infrastructure Fund (part of IFM Investors) has signed a definitive agreement to acquire a majority interest in GreenGasUSA, a Charleston-based developer, owner and operator of renewable natural gas (RNG) projects. The investment, NZIF's first in the low carbon fuels sector, will provide capital to expand GreenGas's footprint of RNG projects and support long-term growth while the company's founder and CEO Marc Fetten remains in place.