# Anaergia's 98% revenue jump and BHE Montana's EDAM move signal a maturing energy transition economy

By MarketScale Newsroom · Published 2026-08-16 · Updated 2026-09-01 · Energy on MarketScale
Canonical: https://www.marketscale.com/industries/energy/anaergias-98-revenue-jump-and-bhe-montanas-edam-move-signal-a-maturing-energy-transition-economy

> From waste-to-energy to grid coordination, Q2 2026 earnings and deals show the energy transition is delivering measurable commercial results.

## Key points

- Anaergia reported a 98% increase in revenue, showcasing the growth and potential in the waste-to-energy sector.
- BHE Montana's engagement with EDAM highlights advancements in grid coordination within the energy transition sector.
- The energy transition economy is increasingly delivering measurable commercial results.

Anaergia nearly doubled its quarterly revenue in Q2 2026, posting 98% year-over-year growth to $63.9 million and extending its run of positive adjusted EBITDA to four consecutive quarters, according to the Burlington, Ontario-based company's August 10 earnings release on Business Wire. Its revenue backlog reached $274.9 million, a figure that signals durable forward demand for its waste-to-energy and organic waste processing platforms. For utilities and municipal operators evaluating long-term offtake commitments in the biogas and organic waste space, that backlog depth is a procurement signal worth watching.

The result does not stand alone. Across the week ending August 10, a cluster of announcements from utilities and energy infrastructure companies outlined a sector moving from pilot-stage ambition to commercial-scale execution: a Montana utility formalizing entry into an expanded Western power market, a smart-metering platform growing its software ecosystem, a surface land manager closing its first major post-IPO acquisition in the Permian Basin, and two environmental consulting firms combining to serve asset retirement demand in Western Canada.

## Western grid coordination takes a concrete step forward

BHE Montana announced August 10 that it has signed an implementation agreement to join the California Independent System Operator's Extended Day-Ahead Market, or EDAM. The move extends the company's existing participation in the Western Energy Imbalance Market and represents one of the more significant grid-coordination commitments made by a Rocky Mountain-area utility this year. CAISO's EDAM is designed to give a broader set of Western utilities access to a shared, forward-looking dispatch mechanism that can reduce reliance on expensive short-term power purchases and improve renewable integration.

BHE Montana pointed to its WEIM track record as justification for the expansion, noting that the coordination benefits already demonstrated through that real-time market showed the value of operating within a larger scheduling footprint. For grid operations teams at Western utilities, BHE Montana's move raises the question of whether neighboring systems will face competitive or reliability pressure to follow suit, particularly as more variable renewable capacity comes online across the region.

> Regional grid coordination is no longer a theoretical efficiency gain, BHE Montana's EDAM commitment is the kind of binding operational decision that forces neighboring utilities to revisit their own market participation strategies.

## Landis+Gyr pushes intelligence to the grid edge

On August 9, Landis+Gyr announced it had added two new partners, Future Grid and Operational Technology Solutions, to its Edge Application Ecosystem in Australia, according to a PR Newswire release. The ecosystem allows third-party software developers to deploy applications directly on Landis+Gyr's advanced metering infrastructure, pushing analytics and control logic closer to the meter rather than routing everything through a central head-end system. For utilities managing distributed energy resources at scale, that architectural shift reduces latency and enables faster demand-response decisions.

The Australian expansion matters to procurement teams globally because Landis+Gyr's partner ecosystem model is the same architecture the company is deploying in other markets. Each new validated partner effectively pre-qualifies a software capability that other utilities on the same platform can evaluate and adopt without custom integration work. That shortens the procurement cycle for grid-edge applications considerably.

## Land, environmental services, and Permian infrastructure

EagleRock Land, a surface land management company that controls acreage in the core of the Permian Basin and completed its NYSE IPO on May 15, 2026, announced the acquisition of the Intrepid Ranch for $78.2 million on August 10, according to Business Wire. The property spans approximately 50,000 surface acres and was purchased from Hydrosource Logistics LLC using a combination of cash and borrowings under EagleRock's revolving credit facility. For operators evaluating water infrastructure, pipeline easements, or produced-water disposal capacity in the Permian, EagleRock's growing surface position is a counterparty they are increasingly likely to encounter.

In Canada, Triton Environmental Consultants announced the acquisition of Arletta Environmental Consulting, a move the Calgary-based firm said would strengthen its environmental and asset retirement services across Western Canada, according to Business Wire. Asset retirement obligation management has become a material cost center for oil and gas operators and utilities facing regulatory pressure to decommission aging infrastructure. Triton's expanded technical bench, bolstered by Arletta's complementary expertise, positions the combined firm to handle larger and more complex retirement scopes for clients navigating those obligations.

## What the quarter's activity tells operators

Taken together, these announcements describe a utilities and energy infrastructure sector where commercial momentum is building in several directions at once. Anaergia's backlog growth points to sustained demand for waste-to-resource infrastructure from municipalities and industrial clients. BHE Montana's EDAM commitment signals that formal Western grid integration is accelerating beyond the real-time imbalance market. Landis+Gyr's ecosystem expansion shows that metering hardware vendors are successfully repositioning as software platforms. And the activity in land, surface rights, and environmental services reflects the operational complexity that comes with both building new energy infrastructure and retiring old assets responsibly.

For procurement and operations leaders, the near-term actions are concrete: assess biogas and organic waste processing contracts against a supply base that now includes a commercially scaled Anaergia, revisit Western grid market participation agreements ahead of EDAM's broader rollout, and evaluate whether advanced metering infrastructure investments are structured to support edge-application deployment. EagleRock's Intrepid Ranch acquisition, meanwhile, is a reminder that surface rights in active basins are a finite and increasingly structured asset class, one that operators should account for in long-term infrastructure planning.

## Sources

- [Anaergia Reports 98% Revenue Growth, Fourth Consecutive Quarter of Positive Adjusted EBITDA, and Revenue Backlog Expansion to $274.9 Million in Q2 2026](https://www.businesswire.com/news/home/20260810975388/en/Anaergia-Reports-98-Revenue-Growth-Fourth-Consecutive-Quarter-of-Positive-Adjusted-EBITDA-and-Revenue-Backlog-Expansion-to-%24274.9-Million-in-Q2-2026) (Business Wire)
- [BHE Montana to Participate in CAISO's Extended Day-Ahead Market, Expanding Reliability and Delivering Customer Benefits](https://www.businesswire.com/news/home/20260810144170/en/BHE-Montana-to-Participate-in-CAISOs-Extended-Day-Ahead-Market-Expanding-Reliability-and-Delivering-Customer-Benefits) (Business Wire)
- [Landis+Gyr Expands Edge Applications Ecosystem with Two New Digital Innovators to Power Next-Generation Intelligent Grid](https://www.prnewswire.com/news-releases/landisgyr-expands-edge-applications-ecosystem-with-two-new-digital-innovators-to-power-next-generation-intelligent-grid-302846630.html) (PR Newswire)
- [EagleRock Acquires Intrepid Ranch](https://www.businesswire.com/news/home/20260810348718/en/EagleRock-Acquires-Intrepid-Ranch) (Business Wire)
- [Arletta Environmental Consulting Joins Triton Environmental Consultants to Expand Environmental and Asset Retirement Services](https://www.businesswire.com/news/home/20260810102464/en/Arletta-Environmental-Consulting-Joins-Triton-Environmental-Consultants-to-Expand-Environmental-and-Asset-Retirement-Services) (Business Wire)

Tags: Anaergia, BHE Montana, CAISO, Landis+Gyr, EagleRock, Triton Environmental, utilities, energy transition, grid management, waste-to-energy, day-ahead market, smart grid, energy storage, Permian Basin, environmental consulting, procurement, operations

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