BURLINGTON, Ontario--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) signed a contract with Arjun Infrastructure Partners (Arjun) to provide financing for Anaergia’s build, own and operate (BOO) projects in Italy. Under the provisions of this new agreement, Arjun has committed to invest up to €100 million in mezzanine financings in a portfolio of projects in Italy. The term of these financings is generally 10 years, and it is expected that with this commitment 10-12 new projects can be built.
Arjun is a leading independent European infrastructure asset manager. Founded in 2015, Arjun currently manages approximately C$6 billion of capital on behalf of institutional investors.
“This agreement is to result in a series of investments in organic-waste-to-renewable-natural-gas projects being added to the growing portfolio of renewable energy investments in Europe that are already managed by Arjun. We look forward to working with Anaergia to develop these projects for the benefit of the environment as well as for the benefit of our investors," said Surinder Toor, Managing Partner of Arjun Infrastructure Partners.
“Owing to government regulations and incentives that are in place in Italy, this country continues to be a European leader in adding new anaerobic digestion facilities. Anaergia is seeing growth opportunities in this market that are exceeding our prior expectations and thanks to this agreement we can increase the number of projects we will undertake without significantly increasing Anaergia’s investment in this market,” noted Andrew Benedek, Chairman and CEO of Anaergia.
Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record from delivering world leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.
This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information please see: www.anaergia.com.