Suma Capital acquires CH4T as it targets Italy’s biomethane market
Suma Capital is headquartered in Barcelona, Spain, and this transaction has enabled it to advance its growth strategy in international markets. It opened its first international office in Paris, France last year, and is now focusing on Italy.
CH4T has been active for over 20 years in the energy and agriculture sector in Italy, and focuses on the acquisition and transformation of biogas plants into biomethane plants.
It currently has ten plants in advanced stages of talks in Northern Italy and plans to complete the acquisition of the first three plants in the first weeks of this year, representing an initial investment of close to €15 million.
CH4T‘s medium-term goal is to acquire between 10 and 15 biogas plants, to then transform into biomethane plants.
The company said it will take advantage of the 2022 Royal Decree, which allocates €4.5 billion for the promotion of biomethane as a substitute energy for fossil natural gas, in line with the Italian government’s target of reaching 2.3bcm by 2026, seven times the current production.
Enrique Tombas, chairman and founding partner of Suma Capital, said: “We are proud to announce our first international investment, marking a significant milestone in Suma Capital’s trajectory. This transaction not only represents a strategic step towards the internationalisation of our firm, but also underscores our continued commitment to investments that generate a positive impact on environmental sustainability and local economic development.
"The acquisition of CH4T is further testimony to our belief in transforming the energy landscape toward more sustainable sources. This step also reflects our full confidence in CH4T’s exceptional team and in the potential of the Italian market.”