BIOGEST has announced it will receive growth capital from Eiffel Gaz Vert for a 25% minority stake.
Eiffel Gaz Vert thus finances the ambitious development of the BIOGEST Group and the plants to be developed, built or operated by BIOGEST. In total, this partnership will enable BIOGEST to commission more than a hundred biogas and biomethane units in the coming years and become a global player in the green gas industry.
The global climate crisis and the critical geopolitical situation of gas supply require a rapid action to accelerate green gas production capacity, the company said. Biomethane is one of the pillars of the global energy transition and is providing Europe's cheapest and most scalable renewable gas today.
The European Biogas Association has said: "By 2030, Europe can produce 35 bcm, representing 10% of total EU gas demand. By 2050, combined biogas and biomethane production can reach 95 bcm, which could cover 30-40% of the total gas demand in 2050. Such growth represents 420,000 jobs by 2030 and over 1 million jobs by 2050.”
The partnership between BIOGEST and Eiffel Gaz Vert will provide a critical boost to the biomethane production capacity and contribute to the decarbonisation and security of energy supply in Europe and worldwide.
Marc-Etienne Mercadier, fund manager of the Eiffel Gaz Vert fund, said: “We are delighted to invest in the development, construction, and operation of green gas projects within a technology leader like BIOGEST.
"We are convinced by the operational excellence of the BIOGEST team and its promising and diversified pipeline. Investing within the BIOGEST Group demonstrates the full support of the Eiffel Investment Group to the renewable gas sector. We are excited to leverage Eiffel Gaz Vert’s financial resources and expertise to take the company to the global leadership level”.
Martin Schlerka, CEO and managing partner of BIOGEST, added: “Our Group’s development is based on three areas by relying on our extensive know-how and expertise: progressing and scaling up in the US market, developing the OPO (Own-Plant-Operation) activity in Europe & the US, and pursuing our capacity to address market opportunities.
"BIOGEST wants to be a leading actor in the entire value chain of the biogas sector while continuing to push new countries. With the Eiffel Investment Group, we found the right partner to speed up our success story, and I am very excited about our new journey.”
Biomethane is the only renewable energy source that can be carbon-negative, as it significantly reduces methane emissions from agricultural operations. BIOGEST’s plants produce not only pipeline-quality green gas but also an organic fertiliser that helps reduce the use of chemical fertilisers in agriculture.
BIOGEST: €20m investment enables construction of 100+ biogas units
