IFM’s Buckeye launches energy-transition business
Buckeye has launched a diversified energy company that will focus on the development, construction and operation of energy transition projects – BAES Infrastructure.
The new firm will pursue energy transition-related opportunities with current seed assets:
Swift Current Energy (a US-based renewable energy platform)
OneH2 (a US-based hydrogen infrastructure and fueling solutions platform)
Bear Head Energy (a low-carbon hydrogen and ammonia project in Nova Scotia)
low-carbon hydrogen and ammonia project under development in South Texas
other advanced-stage solar development projects
BAES Infrastructure will be led by Jamie Cemm as chief executive. Cemm has been at IFM Investors, which owns Buckeye through the IFM Global Infrastructure Fund, since 2010.
Cemm helped develop and expand IFM Investors’ strategic partnerships in global energy infrastructure, as well as the growth of IFM Global Infrastructure Fund’s midstream portfolio, through leading and executing key transactions, including the privatization of Buckeye. He will be joined by a specialized global team with deep multi-disciplinary experience bringing together elements of development, finance, engineering and investment.
“I am pleased to be leading BAES Infrastructure as we move to capture the opportunities in the energy transition space, where the scale and pace of the infrastructure build-out required to meet governmental and societal goals is unprecedented,” said Cemm.
“We intend for BAES Infrastructure to play a fundamental role in facilitating the energy transition through the intersection of our team’s expertise, access to an operating platform’s resources and capabilities, and deep network of customer and strategic relationships, all of which together will set us apart from typical financial investors.”
Buckeye owns and operates a diversified global network of integrated assets providing midstream infrastructure and logistic solutions, primarily consisting of the transportation, storage, processing, and marketing of liquid petroleum products.