Boulder VC buys out Fort Collins investor on Italy-Colorado natural gas deal

BOULDER and FORT COLLINS — Saoradh Enterprise Partners LLC bought a minority stake in a chain of renewable natural gas stations that was previously held by Ward Alternative Energy LLC.

X3CNG Colorado LLC sells compressed natural gas at fueling stations. Its website said it runs 10 stations in Colorado. Locations include Longmont, Fort Lupton, Gilcrest and two in Greeley.

Stations are used by commercial and government fleets, and X3CNG plans to begin offering renewable natural gas at its stations, a Saoradh press release said.

X3CNG has local offices in Westminster. It’s based in New York and majority owned by X3Energy in Parma, Italy. The Italian company buys and runs CNG and liquid natural gas stations there.

Saoradh is a Boulder VC firm investing in clean tech; it bought the X3CNG stake via its advanced fuel vehicles and technologies fund. The portfolio includes Commerce City-based Redmark CNG Services LLC, providing fuel station services and Forge Nano Inc. in Thornton, which makes nano coatings.

The Saoradh press release noted a $5.4 billion state transportation bill that “includes hundreds of millions of dollars in state incentives for advanced fuel vehicles.” A transportation roundtable last week discussed the new law as well as some of its carbon and greenhouse gas reduction implications.

Ward Alternative Energy shares a Fort Collins address with several companies including one that leases, sells and services oilfield and gas and vapor recovery equipment.

© BizWest Media LLC

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