Azolla Management

Azolla focuses exclusively on the renewable natural gas (RNG) supply chain. The firm takes equity positions in companies that capture methane emissions from landfills, dairy farms, and wastewater treatment plants, then upgrade and distribute the gas as pipeline-grade fuel. This includes anaerobic digesters, gas upgrading equipment, and project development platforms.

John M. Angelo co-founded Azolla in 2019 and leads the firm. His background includes energy finance roles at Macquarie Group and Sempra Energy, where he worked on RNG project development and infrastructure financing. The firm has not publicly listed other investment professionals.

The firm concentrates on RNG assets and companies in the United States and Canada. Key regions include California's Central Valley, Wisconsin, and major dairy and landfill corridors where methane feedstock supply is dense.

Azolla is a pure-play RNG investor. Most energy-transition funds include RNG as one allocation within a broad renewables mandate. Azolla only invests in the methane-capture value chain, making it a thematic consolidator rather than a diversified generalist. This narrow scope means its portfolio companies compete on feedstock access and regulatory credit generation rather than technology alone.

No. Azolla has not publicly disclosed its AUM or total capital deployed since its founding in 2019.

Azolla's portfolio companies generate revenue through environmental credit markets, specifically California's Low Carbon Fuel Standard and the federal Renewable Fuel Standard. These programs create tradable credits for low-carbon fuel production and are a core underwriting component for the firm's investments.