Sienna IM supports KEON’s biomethane expansion with €40m financing

Sienna Investment Managers (Sienna IM) has extended €40 million in bond financing to KEON, France’s largest independent producer of biomethane.
The funding will be deployed through three complementary Private Credit strategies: the Sienna Sustainable Infrastructure Debt III fund (SID3), the Sienna Biodiversity Private Credit fund, and F2E.
Founded two decades ago, KEON is a leading mid-cap player in the methanisation sector.
The company operates across the entire biomethane value chain and currently manages 11 operational plants, with four more under construction and at least 18 additional sites in development.
The five-year strategic credit facility will support KEON in accelerating its green gas expansion plans, following a significant capital raise from the pan-European Marguerite fund in January 2022.
Ronald Gaultier, Deputy Head of Infrastructure Debt Funds at Sienna IM, commented: "We are proud to support the growth of such a seasoned player in a crucial sector of Europe’s energy transition. This investment, structured in close collaboration with KEON and its advisors, addresses both the company’s strategic priorities and the expectations of our investors. It is a clear example of Sienna IM’s strong positioning in support of European decarbonisation and energy sovereignty."
Aurélien Lugardon, Chairman and Founder of KEON, said: "When KEON was founded 20 years ago, methanisation was still in its early stages. Since then, we’ve helped make it a cornerstone of France’s energy mix - and a key solution for sustaining the future of agriculture.
"This new funding equips us to take the next step: becoming a full-scale producer of green gas. We’re committed to a form of methanisation that brings tangible benefits to people and their regions—supporting energy, agronomic, and societal transitions alike."
Finergreen acted as financial advisor for the transaction, while legal advisory services were provided by BCLP for Sienna IM and Jeantet for KEON.