Biogen acquires portfolio of five UK AD plants
The acquisition expands Biogen’s generation capacity and increases its footprint of green energy AD plants across the UK.
Financial details of the transaction are undisclosed.
Biogen produces renewable energy and nutrient-rich fertiliser from recycling organic waste, most of which would otherwise be sent to landfill.
It works with supermarkets, the hospitality industry, food manufacturers, farmers and local authorities to source and recycle organic waste.
Following the acquisition, Biogen's nationwide footprint will comprise 19 green energy AD plants and three organic composting sites.
This takes Biogen’s electrical equivalent capacity to circa 36 MWe and enables Biogen to generate over 300,000 MWh green energy per year. This is enough energy to supply more than 100,000 average households with renewable electricity per year, according to the company.
The acquisition was funded by infrastructure investor Ancala Partners’ new £551 million (€648 million) Growth Fund.
Ancala invested in Biogen in 2017, with the business since completing four acquisitions, optimising performance at its existing plants and more than doubling its revenue to almost £50 million (€58.7 million) in its most recent financial year.
Ruby Jones, CEO of Biogen, commented: “This acquisition is an attractive addition to the Biogen portfolio. The plants provide Biogen with further exposure to renewable gas to grid technology, increasing our role as a producer of renewable energy in the UK and further supporting the nation’s 2050 net zero target. We look forward to working with the new plants and their respective local partners.
“The Ancala team’s expertise has been crucial to delivering this transaction, along with our broader expansion plans.”
Ankur Ajmera, partner at Ancala Partners, added: “This transaction further builds on Biogen’s position as a leading operator in the UK’s anaerobic digestion sector. We are working closely with Biogen’s management team to deploy green gas to grid capacity across its network and are actively seeking new acquisition opportunities to further expand Biogen’s footprint.”