ENGIE invests in small-scale B2C biogas system provider
Global energy group ENGIE has taken a 13% minority stake in HomeBiogas, a company working in the field of household biogas solutions.
HomeBiogas is an Israeli startup that ‘transforms household biowaste into energy’. According to the company’s website, its off-grid HomeBiogas 2.0 small size biogas digester is able to produce up to two hours of cooking gas every day solely from food scraps or animal waste.
The product also creates an organic liquid fertiliser as a second byproduct, which can be used on crops and gardens.
In a statement from ENGIE, it’s claimed that HomeBiogas’ waste-to-energy solution could be ‘a life-changing technology’ for the 540 million families living in emerging countries without access to clean cooking fuels. In addition, it could enable 200 million families in developed countries to engage in ‘concrete actions towards reducing their carbon footprint and living a more sustainable lifestyle.’
France headquartered ENGIE’s investment comes through its Corporate Venture Capital fund: ENGIE New Ventures. According to a statement, it will boost the development of HomeBiogas’ B2C biogas systems in both Europe and emerging countries.
“This investment illustrates ENGIE’s commitment to providing low-carbon and reliable energy access to people globally, as well as to developing green gas solutions,” said Hendrik Van Asbroeck, director of ENGIE New Ventures.
“The HomeBiogas business model is smart and simple, two qualities that convinced us to invest in their company and to help them boost their development both in Europe and in developing countries."