Anaergia has entered into a C$58 million contract with Neogenyx Fuels to deploy anaerobic digestion technology at a large-scale agricultural facility in the United States, boosting the Canadian company's revenue visibility over the next two years.
Under the agreement, Anaergia will provide turnkey manure handling, processing and digestion systems designed to produce more than 4,400 standard cubic feet per minute of biogas, which Neogenyx Fuels will upgrade to pipeline-quality renewable natural gas (RNG).
Neogenyx Fuels is a newly formed joint venture between energy services company Ameresco and sustainable infrastructure investor HASI, focused on developing and operating renewable fuels infrastructure across North America.
Assaf Onn, chief executive of Anaergia, said the contract represented "an important step in converting Anaergia's technology leadership into visible, contracted revenue streams with high-quality counterparties." The company said it saw potential for additional deployments as Neogenyx Fuels expanded its portfolio.
Anaergia, listed on the Toronto Stock Exchange, said the agreement reflected growing demand for proven RNG solutions, with large-scale agricultural waste projects representing one of the most attractive segments in the market. The company said it was continuing to pursue further opportunities with financial sponsors and strategic partners in North America and Europe.
Anaergia secures C$58m contract for agricultural RNG project in the US
