Document:

EX-10.2

 Exhibit 10.2 

CERTAIN INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF
PUBLICLY DISCLOSED. THE OMITTED PORTIONS OF THIS DOCUMENT ARE INDICATED BY [***]. 
 TRANSACTION CONFIRMATION 

 

							
	 			 
	
Iogen RC Fuels LP
  
	 	 	 	 	  	 Effective Date: April 1,
2021
  
 Contract No. BG-GSF-IO-001I
  

	 
	
This Transaction Confirmation is subject to the Base Contract between Seller and Buyer dated April 1, 2021, and its terms shall be binding
upon execution by the parties.
  

	 SELLER:

GSF Energy, L.L.C. 
680 Anderson Drive 
Foster Plaza 10, 5th Floor 
Pittsburgh, PA 15220

Attn: General Counsel 
Phone: (412) 747-8718 
Fax: (412) 542-1577
	 	  BUYER:

 Iogen RC Fuels LP 
 310 Hunt Club Road East, Suite 101 
 Ottawa, Ontario K1V 1C1 
 Canada 
 Attention: Contract
Administration 
 Phone: 613-733-9830 
 Fax: [***]

	  

Contract Price:
  

$[***]/MMBtu
  

	 	 
	
Delivery Period: Begin: Commencement Date

 
	 	
 End:   December 31, 2025

 

	 
	
Performance Obligation: Subject to the terms of this Transaction Confirmation, Seller shall deliver and Buyer shall purchase RNG
produced by the RNG Facilities for each Day of the Delivery Period, as set forth in, and in accordance with, the Additional Conditions below.
  

Contract Quantity: The “Contract Quantity” shall be 2,500 MMBtu per Day multiplied by the number of Days in the
Delivery Period.
  

	 
	
Delivery Point(s):
  

The Delivery Point shall be at the Sales Meters identified in Schedule 1 to this Transaction Confirmation, at the RNG Facilities.

 
 Buyer and Seller agree that Seller is solely responsible
for all transportation and related pipeline charges for the transportation of RNG to the Delivery Point and Buyer is solely responsible for all transportation and related pipeline charges for the transportation of the RNG at and from the Delivery
Point.
  

	 
	
Payment Terms:
  

For deliveries during each Month of the Delivery Period, payments shall be made on or before the 25th Day of the Month following delivery.
  

	 
	
ADDITIONAL CONDITIONS:
  

1.     General Terms and Conditions:

 
The parties acknowledge (a) Buyer will resell the RNG purchased hereunder to the Refiner
Counterparty, and (b) the Refiner Counterparty will make RC Fuels using technology licensed from Buyer and such RC Fuels will be transported to Europe, sold for use only in European transportation fuel markets and to generate Fuel Credits. 

 

	 	2.	 Scheduling and Nominations: 

For the Contract Quantity set forth in this Transaction Confirmation, Seller will provide Buyer with its non-binding estimation of the RNG quantity that it expects to deliver during the following RNG delivery Month no later than the seventh (7th) Business Day before
the first Day of the next RNG delivery Month. For the final RNG delivery Month of any Contract Period, Seller will nominate a quantity equal to the Contract Quantity for such Contract Period minus the Delivered Volume. For any Month other than the
final Month of the applicable Contract Period, Seller will nominate a quantity that shall be [***]. 
 RNG
quantities will be nominated ratably over the course of the delivery Month but Seller will, in the event of production shortfalls, have the option to change daily nominations at the Delivery Point for any delivery Day during the Month as long as
such nominations are made by Seller by no later than 5:00 a.m. Central Prevailing Time the Day before the delivery Day. Weekend and holiday volumes will be nominated ratably over the Saturday - Monday or applicable period.  

 

	 	3.	 Representations and Warranties: 

Mutual Representations and Warranties: 

Each Party represents, warrants, and covenants to the other Party as of the Effective Date: 

 

	 	(a)	 it is duly organized, validly existing and in good standing under the laws of the jurisdiction of its
organization or incorporation; 
	 

  

	 	(b)	 it has, and at all times during the Term will have, all necessary power and authority to execute, deliver,
and perform its obligations hereunder; 
	 

  

	 	(c)	 the execution, delivery, and performance of this Agreement by such Party have been duly authorized by all
necessary action and do not violate any of the terms or conditions of its organizational documents, any contract to which it is a party, or any Applicable Law; 
	 

  

	 	(d)	 except for the securing of governmental approvals and registrations expressly set forth hereunder, no
consent, waiver, order, approval, authorization, registration, qualification or filing with any court or other Governmental Authority is required for the execution and delivery by such party of this Agreement, and the consummation by such party of
the transactions contemplated hereby; 
	 

  

	 	(e)	 there is no pending or, to such Party’s knowledge, threatened litigation or administrative proceeding
that may materially adversely affect its ability to perform this Agreement; and 
	 

  

	 	(f)	 this Agreement constitutes a legal, valid and binding obligation of such Party, except as the enforceability
of this Agreement may be limited by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by general principles of equity. 
	 

 Seller’s Ongoing Representations, Warranties and Covenants 

In addition to the representations and warranties set forth above, Seller represents, warrants and covenants
to Buyer as of the Effective Date of this Transaction Confirmation and on each Day thereafter until the end of the Delivery Period that: 
  

	 	•	 	 Seller is the entity that owns and operates the RNG Facilities; 
	 

  

	 	•	 	 Seller will maintain valid ISCC Certification for the RNG Facilities (based on the certification parameters
and requirements in existence as of the Effective Date and without any requirement to incur material costs for facility upgrades or changes in operating protocols in the future to comply with any changes in such parameters and 
	 

 
	 	 requirements after the Effective Date), , will issue the applicable ISCC Documentation Monthly and will cooperate in
providing additional information required by any applicable Governmental Authority; 
	 

  

	 	•	 	 All ISCC Documentation delivered by Seller and the information contained therein regarding certification and
sustainability characteristics of such RNG is complete, accurate, and in compliance with all applicable requirements; 
	 

  

	 	•	 	 The RNG delivered hereunder shall have all Renewable Attributes including eligibility for ISCC Certification;

	 

  

	 	•	 	 The RNG delivered hereunder shall have an actual GHG emission value (measured in g CO2e/MJ, as determined in accordance with ISCC-EU standards) no greater than [***] g/MJ for 2021 and [***] g/MJ for the remainder of the Delivery Period (the
“GHG Emissions Standard”) as currently designed and operating as of the execution of this Transaction Confirmation. 
	 

  

	 	•	 	 the RNG delivered hereunder at the Delivery Point shall meet the specifications of the applicable pipeline
into which it is injected; 
	 

  

	 	•	 	 Seller has not sold or agreed to sell any Renewable Attributes associated with such RNG to any other party;

	 

  

	 	•	 	 Seller has not taken any action that would invalidate any Renewable Attributes relating to the RNG delivered
hereunder including any actions that may cause the loss of any ISCC Certifications or sustainability attributes; and 
	 

  

	 	•	 	 upon sale of the RNG by Seller to Buyer, Seller shall transfer all Renewable Attributes associated with such
RNG and the production thereof to Buyer. 
	 

 Buyer’s Ongoing Representations, Warranties and Covenants 

In addition to the representations and warranties set forth above, Buyer represents, warrants and covenants to
Seller as of the execution date of this Transaction Confirmation and on each Day thereafter until the end of the Delivery Period that: 
  

	 	•	 	 Buyer is a special purpose entity formed solely to engage in the sourcing of RNG for use in the production of
RC Fuels and the generation of Fuel Credits, and transactions related thereto; 
	 

  

	 	•	 	 Concurrently with the execution and delivery of this Transaction Confirmation, Buyer is entering into a
written, binding agreement (the “RNG Purchase and Sale Agreement”) with the Refiner Counterparty covering the full Delivery Period for [***]% of the Contract Quantity of RNG purchased from Seller. 
	 

  

	 	•	 	 Pursuant to the RNG Purchase and Sale Agreement, Buyer will receive proceeds from the sale of the RNG
purchased hereunder to the Refiner Counterparty sufficient to (a) satisfy Buyer’s payment obligations in respect of the Contract Price (net of agreed set-offs in respect of the Brown Gas Transaction
Confirmation) and (b) [***]. 
	 

  

	 	•	 	 Buyer has provided Seller with a true and complete copy of its RNG Purchase and Sale Agreement; 
	 

  

	 	•	 	 All proceeds from the sale of the RNG by Seller to the Refiner Counterparty under the RNG Purchase and Sale
Agreement shall be deposited in a bank account with a financial institution mutually acceptable to the Parties (the “Controlled Cash Account”) from which [***]. 
	 

  

	 	•	 	 Buyer shall furnish to Seller, not later than the [***] of each calendar Month beginning after the
Commencement Date, a report setting forth the amount of funds from Refiner Counterparty due to be received in the Controlled Cash Account and Buyer’s proposed disbursement of funds to Seller from the Controlled Cash Account in payment of the
Contract Price, [***]. 
	 

Commodity Trade Option Representations: 

The parties agree that this transaction is a forward contract within the meaning of the Commodity Exchange Act
(the “Act”), as amended, and the Rules of the Commodity Futures Trading Commission (“CFTC”), and in reliance upon such agreement, as of the date the transaction is entered into: 

 

	 	•	 	 each party represents to the other that it is a commercial market participant with respect to the specified
commodity; 
	 

  

	 	•	 	 each party represents to the other that it intends to make or take physical delivery of the specified
nonfinancial commodity; and 
	 

  

	 	•	 	 if this transaction includes any volumetric optionality, the holder of such optionality represents to the
other party (a) that such optionality is primarily intended to address physical factors (such as weather, environmental factors, customer demand, available production, transport, shipping, operational constraints, or other physical factors) or
regulatory requirements that reasonably influence demand for, or the supply of, the specified nonfinancial commodity; and (b) that such optionality is not primarily intended to address price risk. 
	 

 To the extent the transaction is deemed to be a commodity option: 

 

	 	•	 	 the seller of the option represents to the buyer of the option that in connection with this transaction, the
seller of the option is either (a) an eligible contract participant as defined in section 1a(18) of the Act and the regulations of the CFTC, or (b) a producer, processor, commercial user of or a merchant handling the commodity that is the
subject of this transaction, or the products or byproducts thereof, and is offering or entering into this transaction solely for purposes related to its business as such; 
	 

  

	 	•	 	 the buyer of the option represents to the seller of the option that in connection with this transaction the
buyer of the option is a producer, processor, commercial user of or a merchant handling the commodity that is the subject of this transaction or the products or byproducts thereof and is offering or entering into this transaction solely for purposes
related to its business as such; and 
	 

  

	 	•	 	 each party represents to the other that the option, if exercised, would result in the sale of an exempt
commodity for immediate or deferred delivery. 
	 

  

	 	4.	 Renewable Attributes: 

Seller agrees in connection with the sale of RNG hereunder to (i) assign to Buyer all Renewable
Attributes associated with such RNG, and (ii) provide any agreement, attestation, certification and/or other document reasonably requested to meet the requirements of any applicable Governmental Authority having jurisdiction over the RNG or
Renewable Attributes relating to the RNG. 
 Seller will provide Buyer with such cooperation, documentation,
certifications, site visits or other information, support or assistance as may be reasonably necessary to carry out the purposes of this Transaction Confirmation in order for (i) title to the conveyed Renewable Attributes to vest in Buyer in
connection with the purchase and sale of RNG hereunder and (ii) Buyer, Refiner Counterparty or its designee to be able to monetize the value of the Renewable Attributes by production and sale of RC Fuels in Europe. Such requirements include but
are not limited to Seller having an obligation to: 
  

	 	•	 	 maintain all applicable ISCC Certifications or cause such ISCC Certifications to be maintained (based on the
certification parameters and requirements in existence as of the Effective Date and without any requirement to 
	 

 
	 	 incur material costs for facility upgrades or changes in operating protocols in the future to comply with any changes in
such parameters and requirements after the Effective Date); and 
	 

  

	 	•	 	 following each Month in which RNG was transferred to Buyer pursuant to the terms of this Agreement, issue or
obtain, as the context requires, the required ISCC Documentation in the applicable form prescribed and published by the ISCC from time to time; promptly deliver or cause the delivery of same to Buyer within ten (10) days after the last Day of
such Month; and bear the costs related to the preparation of any such ISCC Documentation. 
	 

 Seller will provide Buyer on a monthly basis data sufficient to
monitor the GHG emissions performance of the RNG Facilities, and Buyer will provide Seller on a monthly basis a rolling evaluation of the expected upcoming ISCC GHG emissions verification periods, including performance relative to the maximum
permissible GHG emissions levels. 
 Buyer will provide Seller on a monthly basis affidavits attesting to
the volume accepted by Buyer from Seller from each of the RNG Facilities. 
  

	 	5.	 Change of Law: 

In the event that at any time, and from time to time, during the Term any Applicable Laws are changed, applied
or interpreted differently to Seller by a certification entity than applied as of the date of this Transaction Confirmation or new Applicable Laws are promulgated that result in Seller no longer being able, using all commercially reasonable best
efforts, to: 
  

	 	•	 	 maintain valid ISCC Certification for the RNG Facilities or issue the applicable ISCC Documentation Monthly
for the RNG, each being complete, accurate, and in compliance with all applicable requirements; or 
	 

  

	 	•	 	 deliver RNG having an actual GHG emission value (measured in g CO2e/MJ, as determined in accordance with ISCC-EU standards) [***]; and Buyer has not waived the applicable obligation, then effective upon notice from either
Buyer or Seller to the other party, this Transaction Confirmation shall be terminated and of no further force or effect. [***]. 
	 

  

	 	6.	 Material Hardship: 

In the event that at any time, and from time to time, during the Term, Buyer receives written notice under the
RNG Purchase and Sale Agreement from Refiner Counterparty that it is experiencing a Material Hardship that is continuing, Buyer shall promptly inform Seller of such notice, including the start and end date for the [***] time period for
renegotiation. In the event that, following a good faith effort to renegotiate the terms of the RNG Purchase and Sale Agreement, and provided that Seller has delivered at least [***] MMBtu of RNG hereunder as of such end date, the Refiner
Counterparty shall have a right to give notice to Buyer that it is terminating the RNG Purchase and Sale Agreement as of such end date: 
  

	 	(a)	 Buyer shall promptly inform Seller of such termination; 
	 

  

	 	(b)	 This Transaction Confirmation, the Base Contract and any other transaction confirmations under the Base
Contract shall also terminate on the same day as the RNG Purchase and Sale Agreement; 
	 

 In the event of such termination, Early Termination Damages will be
payable by Buyer to Seller (in addition to any unpaid amounts for RNG delivered prior to termination), in an amount equal to: [***]. 
  

	 	7.	 Force Majeure: 

Seller acknowledges that a failure of the Refiner Counterparty to perform or have
performed the activities listed under clause (b) of Section 1 “General Terms and Conditions” above, by reason of an occurrence that meets the requirements of clause (vii) of Section 11.2 of the Base Contract defining a
Force Majeure, would result in a Force Majeure hereunder. 

 
	 	8.	 Cover Standard 

The Cover Standard shall be based upon (i) if the Buyer is the performing party, the Buyer obtaining
Qualified RNG and (ii) if the Seller is the performing party, the Seller selling Qualified RNG. 
  

	 	9.	 Events of Breach, Default, Indemnification and Early Termination: 

For the purposes of this Transaction Confirmation, without limiting the other remedies that may be available
including the declaration of an Early Termination Date, in the event of a breach of Seller’s Ongoing Representations, Warranties and Covenants in respect of the RNG delivered hereunder resulting in the inability or failure of a quantity of RNG
purchased and sold hereunder to qualify for the generation of Fuel Credits in any applicable European jurisdiction or any such Fuel Credits generated from a quantity of RNG purchased hereunder being subsequently invalidated, then, in the event
Seller has not made arrangements to provide replacement Qualified RNG acceptable to Buyer, acting reasonably, (a) Seller shall pay Buyer an amount equal to the purchase price paid by the Buyer for replacement Qualified RNG utilizing the Cover
Standard and (b) such breach shall constitute an additional Event of Default under Section 10.2 of the Base Contract. 

Each party agrees to provide prompt written notice to the other party of any fact, circumstance or event which
would be a breach under any of the representations, warranties or covenants set forth in this Transaction Confirmation, assuming solely for purposes of this notice requirement that such representations and warranties were made as of the date of such
fact, circumstance or event. 
 Any declaration of an Early Termination Date arising with regard to any
Events of Default shall be applicable to the termination and settlement of this Transaction Confirmation only, and shall not affect any other Transaction Confirmations then in place between Buyer and Seller, nor shall the Base Contract be terminated
thereby. Early Termination Damages will apply under any declaration of an Early Termination Date in respect of this Transaction Confirmation. When determining Market Value under Section 10.3.1 of the Base Contract, a party shall be entitled to
consider the Market Value of Qualified RNG. The parties agree that this determination of Market Value shall constitute a reasonable basis for the calculation of damages and shall not be considered consequential damages described in Section 13
of the Base Contract. 
  

	 	10.	 Collateral Assignment to Refiner Counterparty; Notices: 

Notwithstanding anything to the contrary in Section 15.1 of the Base Contract, Buyer may collaterally
assign and grant a security interest in this Agreement to Refiner Counterparty to secure Buyer’s obligations under the RNG Purchase and Sale Agreement. Copies of any notices of default by Buyer under this Agreement shall be provided to Refiner
Counterparty at the address set forth in Schedule 2 concurrently with any such notices to the Buyer. Seller and Buyer each agree that Seller shall provide Refiner Counterparty the opportunity to cure any Event of Default of Buyer under this
Agreement (upon the same terms and conditions for a cure by Buyer under the applicable provisions hereof), and subsequently perform or pay any related obligation of Buyer under this Agreement, on behalf of Buyer, without Refiner Counterparty
assuming any obligations or liabilities of Buyer hereunder, unless Refiner Counterparty, following the occurrence of an event of default under the RNG Purchase and Sale Agreement, elects to assume the rights and obligations of Buyer under this
Agreement in which case Refiner Counterparty shall have the opportunity to cure and perform as set forth above and shall assume any and all obligations and liabilities of Buyer under this Agreement. In the event of any assumption of this Agreement
by Refiner Counterparty, then Refiner Counterparty and Seller shall enter into a Base Contract on terms substantively the same as the Base Contract between Buyer and Seller and shall establish a new two-party
cash account into which amounts then on deposit in the Controlled Cash Account shall be transferred and disbursements from which shall require joint written instructions of the Refiner Counterparty and Seller. The provisions of this
Section 10 may not be amended, modified or waived except with the prior written consent of Refiner Counterparty. 
  

	 	11.	 Confidentiality: 

The terms of this Agreement, and all confidential or proprietary information disclosed
between the Parties or their Affiliates in connection with this Agreement, shall be subject to the Confidentiality Agreement between the Parties dated 

 
September 1, 2020, and such Confidentiality Agreement shall remain in full force and
effect (notwithstanding any earlier termination thereof in accordance with its terms) with respect to such information until the second anniversary of the end of the Delivery Period. Notwithstanding for foregoing, each Party shall be permitted to
make disclosure of this Agreement as necessary to comply with its reporting obligations under any applicable law, order, regulation or exchange rule, provided that the commercial and economic terms herein shall be redacted to the extent permissible
thereunder. 
  

	 	12.	 Definitions: 

Capitalized terms used in this Transaction Confirmation but not defined herein are as defined in the Base
Contract. In addition to the capitalized terms defined elsewhere in this Transaction Confirmation, the following terms have the respective meanings set forth below: 

“Applicable Law” means any European Union, national, federal, state or local law, statute,
regulation, code, ordinance, license, permit, compliance requirement, decision, order, writ, injunction, directive, judgment, policy, decree, including any judicial or administrative interpretations thereof, or any agreement, concession or
arrangement with any Governmental Authority, applicable to either party or either party’s performance under this Transaction Confirmation, and any amendments or modifications to the foregoing. 

“Biogas” means a mixture of hydrocarbons that is a gas at 60 degrees Fahrenheit and 1
atmosphere of pressure that is produced through the anaerobic digestion of organic matter. 
 “Brown
Gas Transaction Confirmation” means the transaction confirmation under the Base Contract for the sale by Buyer to Seller of the Contract Quantity of Gas without Renewable Attributes at the Delivery Point. 

“Commencement Date” means July 1, 2021. 

“commercially reasonable best efforts” means, with respect to a given covenant, the efforts
that a reasonable person in the position of the promisor would use so as to expeditiously achieve that covenant, but does not include any action or expenditure that is commercially unreasonable or unduly burdensome. 

“Contract Period” means, in respect of the Delivery Period, the period from [***]. 

“Controlled Cash Account” has the meaning set forth in the section titled “Buyer’s
Ongoing Representations, Warranties and Covenants”. 
 “Delivered Volume” means, in
respect of a specific RNG delivery Month in a specific Contract Period, the total quantity of RNG delivered during all RNG delivery Months of the applicable Contract Period prior to the applicable RNG delivery Month 

“Fuel Credits” mean instruments issued by any Governmental Authority in respect of the
Renewable Attributes of a transportation fuel. 
 “GHG Emission Standard” has the meaning
set forth in the section above entitled “Seller’s Ongoing Representations, Warranties and Covenants”. 

“Governmental Authority” means any super-national, national, federal, state, local or other
governmental, regulatory or administrative agency, court, commission, department, board or other governmental subdivision, legislature, rulemaking board, tribunal, or other governmental authority. Governmental Authority includes, but is not limited
to, the European Union. 
 “ISCC” means International Sustainability & Carbon
Certification, a voluntary scheme recognized by the European Commission pursuant to COMMISSION IMPLEMENTING DECISION (EU) 2016/1361 of 9 August 2016. 

“ISCC Certification” means a site-specific certificate (a) issued by
a Cooperating Certification Body recognized by ISCC, or such other entity as may be approved in writing by Buyer, following an audit that includes verification of the RNG Facility’s actual GHG emission value and (b) certifying that the
applicable economic operator complies with the requirements of RED and the ISCC-EU Voluntary Scheme (or such other scheme as may be approved in writing by 

 
Buyer), and that the site of the applicable economic operator is certified for the conduct of
specified activities in the biofuel supply chain, which certificate must be renewed on an annual basis. 

“ISCC Documentation” means a proof of sustainability in the case of a final biofuel such as
an RC Fuel and a sustainability declaration in the case of a supply chain element upstream of the production of final biofuel such as RNG, in each case on the template and in compliance with the requirements therefor prescribed by the ISCC, or such
other entity as may be approved in writing by Buyer, and if applicable, a statement of no double claiming. 

“Material Hardship” means [***]. 

“Net Delivery Surplus” means, in respect of a specific RNG delivery Month in a specific
Contract Period, (i) the total quantity of RNG delivered during all RNG delivery Months of the applicable Contract Period prior to the applicable RNG delivery Month, minus (ii) [***]MMBtu per Day multiplied by the number of Days from the first
Day of the applicable Contract Period to the first Day of the applicable RNG delivery Month. 

“Qualified RNG” means RNG for which ISCC Documentation has been issued and the information
contained therein regarding certification and sustainability characteristics of such RNG is complete, accurate, and in compliance with all applicable requirements. 

“RC Fuel” means renewable co-processed transportation
fuel made using hydrogen derived from RNG and hydrocarbons derived from oil as feedstocks. 

“Refiner Counterparty” means the entity set forth in Schedule 2 to this Transaction
Confirmation and all its Affiliates. 
 “Renewable Attribute” means a recognition or
entitlement, in any form and any jurisdiction, associated with a fuel and relating to a reduction in greenhouse gas emissions resulting from such fuel’s use or to the renewable origin of such fuel itself. 

“RNG”, or “renewable natural gas” (also referred to as biomethane) means
pipeline-quality Natural Gas made from Biogas, such Natural Gas containing all Renewable Attributes associated with such Biogas. RNG includes: (a) pipeline-quality Natural Gas injected into the natural gas pipeline, and (b) a corresponding
quantity of Natural Gas withdrawn from a physically connected pipeline, in each case containing the corresponding Renewable Attributes. 

“RNG Facilities” means the facilities owned by Seller, used to produce the RNG sold hereunder
and listed in Schedule 1 to this Transaction Confirmation. 
 “RNG
Purchase and Sale Agreement” has the meaning set forth in the second bullet of the section entitled “Buyer’s Ongoing Representations, Warranties and Covenants”. 

[Remainder of page left blank intentionally] 

 IN WITNESS WHEREOF, the parties have signed this Transaction Confirmation in multiple
counterparts, effective as of the Effective Date. 
  

							
	
Seller:
	 	   GSF Energy, L.L.C.
	  	 Buyer:
	  	Iogen RC Fuels LP 
By: Iogen RC Fuels Corporation, its General Partner,
	 	 
	
By: /s/ Sean F.
McClain                                        
                   
	  	 By: /s/ Patrick J.
Foody                                        
                    

	 	 
	
Title:
CEO                                        
                                        

	  	 Title: EVP, Advanced
Biofuels                                        
         

	 	 
	
Date:
4/30/2021                        
  
	  	
Date:
4/29/2021                        
  

  
 Schedule 1 – RNG Facilities 

Schedule 2 – Refiner CounterpartyEX-10.3

 Exhibit 10.3 

CERTAIN INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF
PUBLICLY DISCLOSED. THE OMITTED PORTIONS OF THIS DOCUMENT ARE INDICATED BY [***]. 
 TRANSACTION CONFIRMATION FOR IMMEDIATE DELIVERY 

AMENDMENT NO. 1 

This Contract Amendment between Blue Source, LLC (“Seller”) and GSF Energy, LLC (“Buyer”) is effective as
of May 9, 2021 (the “Amendment Effective Date”). 
 WHEREAS, the Parties hereto entered into that certain
Transaction Confirmation for Immediate Delivery (the “TC”) with an Effective Date as of October 9, 2019, Confirmation Number of Blue 001; and 

WHEREAS, the parties hereto desire to amend the TC; 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 AGREEMENT

  

	 	1.	 Definitions. Capitalized terms used but not defined in this Amendment have the respective meanings
assigned to them in the TC. 

  

	 	2.	 Amendments to TC. The parties agree to amend the TC as follows: 

 

	 	a.	 Subpart (i) under Section 1(b) (Margin Share) of Article I (Commercial Terms) shall be deleted in
its entirety and replaced with the following language: 

  

	 	(i)	 Buyer shall receive from Seller [***]% of the RINs for all RINs generated from Biogas delivered to Buyer for
Biogas Quantities between [***] MMBtu per day. 

  

	 	b.	 The Delivery Period under Section 2(a) (Biogas Daily Delivery) of Article I (Commercial Terms) shall be
deleted in its entirety and replaced with the following language: 

  

	 	(a)	 Biogas Daily Delivery 

 

	 	    	 Begin Date: [***] 

	 	    	 End Date: [***] 

 

	 	c.	 Subsection 3(a) of the Contract Quantity and Performance Obligation Section of the TC is deleted and
replaced with the following: 

  

	 	    	 3(a) BIOGAS QUANTITY. THROUGHOUT THE
DELIVERY PERIOD, SELLER SHALL HAVE A FIRM OBLIGATION TO SELL AND
DELIVER [***]% OF THE BIOGAS PRODUCED BY SELLER TO BUYER AT THE
DELIVERY POINT(S) 

	 	 
AND BUYER SHALL HAVE A FIRM OBLIGATION TO TAKE
DELIVERY OF SUCH BIOGAS, SUBJECT TO THE FOLLOWING: 

 

	 	(i)	 During the Delivery Period, Seller shall have, at its sole discretion, the option to divert [***] of the
daily Biogas produced from the facility to a third-party buyer, Iogen RC Fuels, LP, only, to fulfill any contractual obligations. 

  

	 	(ii)	 During the Delivery Period, Buyer shall accept delivery of all remaining MMBtu’s Biogas/Day
(“Maximum Daily Quantity”). 

  

	 	d.	 Section 3, the contract quantity and performance obligation section of this TC, is hereby amended as
follows: 

  

	 	    	 3(c) Buyer will make available and provide any documentation required by Seller to obtain and maintain ISCC
Certification for the RNG Facility. Buyer will issue any required documentation and will cooperate in providing additional information required and will ensure that all documentation delivered to Seller and the information contained therein is
timely, complete, accurate, and in compliance with all applicable requirements. 

  

	 	e.	 The last sentence of Section 6(c) of Article II (Special Provisions) shall be deleted in its entirety
and replaced with the following language: 

  

	 	    	 The EPA EMTS account number to which RINs allocated to the buyer shall be allocated and deposited, within
five (5) days of RIN generation, is 6086. 

  

	 	3.	 Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the
State of Pennsylvania. 

   IN WITNESS WHEREOF, this Amendment has been executed by the parties
hereto effective as of the date first above written. 
  

					
	 BLUE SOURCE, LLC
	 		  	 GSF ENERGY, LLC

			
	 /s/ Will Overly
	 	         
	  	 /s/ Sean F. McClain

	 By:     Will Overly
	 		  	 By:     Sean F. McClain

	 Its:      Vice President
	 		  	 Its:      CEO

  
 - 2 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00336-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00336-of-00352.parquet"}]]