Schmack Biogas, based in Italy, and SWEN Capital Partners, through its impact fund SWIFT, have invested €30 million in biomethane projects.
The two companies have formed a joint venture, Biomethane Invest, to invest in Europe in the biomethane sector. The joint venture looks at Italy as the first market to approach, targeting some 10+ biomethane projects to invest in in the coming years. Construction of the first two plants is expected to begin in the first half of this year.
“We are delighted about the incorporation of Biomethane Invest, which will be able to support many outstanding projects in Italy and beyond,” said Nicolò Cariboni and Massimo Rossetto, Schmack Biogas’ CEOs.
“We are sure that we have found in SWIFT the optimal partners, with whom we share some key targets and values: not only promoting some great and reliable biomethane projects but also fighting together against climate change and supporting the local communities where the plants will be erected.
“With Biomethane Invest, SWIFT and Schmack will boast unparalleled commercial, financial, and technical capabilities to support the promising biomethane market.”
Olivier Aubert, SWEN’s fund manager, said: “We are very enthusiastic to support the European biomethane market in its growth.
“Schmack’s technology with more than 450 plants is absolutely unique and allows us to set very high standards with regard to design, construction, and maintenance of reliable and performing biomethane facilities.
“The first two plants in the province of Caserta will recycle up to 160,000 tons per year of manure from local farms and replace 9 million m3 of fossil natural gas. The plants will also produce fertilisers which will be consumed locally, reduce drastically harmful nitrogen emissions and create 10 permanent jobs.”