Rice Acquisition Corp. was established in 2020 as a special purpose acquisition company, or SPAC, with the goal of identifying and combining with one or more businesses. Initially focused on opportunities within the energy transition and sustainability sectors, the firm completed a business combination in September 2021. This transaction involved merging with both Aria Energy and Archaea Energy, culminating in the formation of Archaea Energy, which then traded publicly. Archaea Energy subsequently became a subsidiary of BP. The company maintained its base in Carnegie, Pennsylvania.