TerraX, SWEN Impact Fund in biomethane joint venture
TerraX is led by biogas expert Michael Niederbacher, who has designed and built more than 220 units in 12 countries worldwide. SWEN is the first European impact fund entirely dedicated to the financing of renewable gas infrastructure.
The joint venture will build and operate more than 10 biomethane projects to produce renewable gas in Italy, which will be injected into the networks or marketed as bio-LNG. The objective is to drastically reduce greenhouse gas emissions from the transport sector, while recovering farm waste and reducing the use of chemical fertilisers.
Once operational in 2022, the plants will produce enough energy to supply 100 heavy trucks and reduce emissions by 90%.
Michael Neiderbacher, CEO and founder of TerraX, and vice-president of the European Biogas Association, said: “We are delighted to launch this investment platform which will accelerate TerraX’s development in Italy.”
“We are very enthusiastic to suppor the Italian biomethane market in its growth,” commented Olivier Aubert, SWEN’s fund manager. “TerraX’s experience and skills in the biogas and biomethane sector are simply unique in Italy, and combined with our own experience in financing and marketing biomethane, constitute pillars for successful and profitable growth.
Jerome Delmas, SWEN’s CEO, added: “The Italian market has been well-known by our company for the last few years and allows us to see the growing interest in responsible investing that combines profitability and impact objectives in favour of the energy transition.”