- Biogas specialist Anaergia (TSX:ANRG) has signed a binding letter of intent with Capwatt Biomethane Unipessoal, a sustainable energy multinational, to build nine biomethane production facilities in Portugal, Spain and Italy
- Anaergia is a renewable natural gas company holding more than 250 patents to convert organic waste into RNG, fertilizer and water
- The renewable energy stock (TSX:ANRG) has added 256 per cent year-over-year
Biogas specialist Anaergia (TSX:ANRG) has signed a binding letter of intent with Capwatt Biomethane Unipessoal, a sustainable energy multinational, to build nine biomethane production facilities in Portugal, Spain and Italy.
The facilities, which will rely on agricultural waste, will be operational within the next 30 months, generating more than C$60 million in revenue for Anaergia over the period.
Anaergia will oversee the design process, including the integration of its proprietary anaerobic digesters, among other systems, with eyes on “significantly enhancing Europe’s green energy infrastructure,” according to Monday’s news release.
The news follows a five-facility deal in Italy with Techbau announced in early April representing about a 234,000 MWh contribution to the grid per year.
Leadership insights
“This agreement is to lead to the nine new facilities producing a total of 556,000 MWh per year of high-quality biomethane,” Sérgio Rocha, Capwatt’s chief executive officer (CEO), said in a statement. “It underscores Capwatt’s commitment to leading the way in sustainable energy production and accelerating the energy transition.”
“This new agreement strengthens our ongoing relationship with Capwatt, building on previous collaborations where Anaergia’s technical expertise and equipment were utilized at two biomethane facilities in Portugal and one in Italy,” added Assaf Onn, CEO of Anaergia. “This substantial follow-up agreement showcases Capwatt’s endorsement of Anaergia’s capabilities and our proven abilities to deliver multiple projects simultaneously.”
About Anaergia
Anaergia is a renewable natural gas (RNG) company holding more than 250 patents to convert organic waste into RNG, fertilizer and water. The company has delivered hundreds of projects over the past decade spanning solid waste processing, wastewater treatment, organics recovery, high-efficiency anaerobic digestion and biomethane production.
The renewable energy stock (TSX:ANRG) last traded at C$0.89 and has added 256 per cent year-over-year.
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