Renovare Environmental, Inc. (NasdaqCM:RENO) agreed to acquire BioRenewable Technologies, Inc. for $17 million on February 28, 2022. The purchase price of $17 million comprised of cash in the amount of $5 million and shares of Renovare Environmental’s common stock. In a related transaction, Renovare Environmental, Inc. agreed to acquire Harp Electrical Engineering Limited from Share Finnegan for $3 million. Upon closing, Harp will nominate two representatives to the Renovare Board of Directors. The transaction provides that 1,491,228 shares of common stock in Renovare will be held in escrow. The transaction is subject to satisfaction of closing conditions, including obtaining the approval of Renovare's shareholders, obtaining financing in an amount not less than $5 million, consummation of the acquisition of Harp Electrical Engineering Limited and other customary closing conditions. The transaction was unanimously approved by the Boards of Directors of Renovare and BioRenewable. The transactions is expected to close in the first half of 2022. As of April 15, 2022, the transaction is anticipated to be completed during the second quarter of 2022. Peter Campitiello of McCarter & English, L.L.P. acted as legal advisor to Renovare.