Bain Capital Invests in Towngas Biomass Firm EcoCeres

Bain Capital has made a significant equity investment in EcoCeres Inc., a biomass company majority owned by Hong Kong & China Gas Co., as the private equity firm seeks to boost its sustainable investing strategy.

Towngas, as the Hong Kong utility giant is known, remains as a strategic shareholder in EcoCeres, according to a statement on Thursday, which confirmed an earlier Bloomberg News report. The buyout firm didn’t provide financial details of the transaction. A deal could be worth a few hundred million dollars, people familiar with the matter have said.