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To be one of the largest RNG anaerobic digestion plants in the world
BURLINGTON, Ontario – (BUSINESS WIRE) – Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) has acquired two Danish subsidiaries which will build, own and operate (“BOO”) a new digestion facility anaerobic in Tønder, Denmark. This new facility will collect agricultural waste and convert it into renewable natural gas (“RNG”).
Construction of the new facility is expected to begin before the end of this calendar year and is expected to be completed within two years. RNG production is expected to start before December 31, 2022, in order to qualify for the Danish Energy Agency’s subsidy program that promotes biogas production by offering a guaranteed minimum price. Under the terms of this program, biogas upgraded to renewable natural gas for injection into the gas network receives a subsidy for a period of 20 years. Anaergia expects the facility to produce 1.4 million MMBTUs per year of RNG, which would make it one of the largest such plants in the world. It would produce about 40% more RNG than that of the Company‘s facility in Rialto, California.
This plant is expected to generate enough RNG to meet the needs of around 29,000 households, while reducing the amount of carbon dioxide released into the environment by around 70,000 tonnes per year.
The total cost of this project is expected to exceed C $ 100 million. The Company expects the new business to produce a positive double-digit internal rate of return on a pre-tax unleveraged basis.
“Thanks to the initial public offering, we were able to expand Anaergia’s operations in Scandinavia sooner than expected. This project aligns with Denmark’s aspirations to become one of the most climate-friendly countries in the world. Denmark has a climate law that aims to reduce greenhouse gas emissions by 70% from 1990 levels by 2030, with net zero emissions targeted for 2050, and this project will help the country. Denmark to achieve these goals. Our investment in this BOO project underscores our commitment to create new large-scale facilities that will make a positive difference in the environment around the world, ”said Andrew Benedek, Chairman and CEO of Anaergia.
Update on potential projects in Kent County, Michigan; and Deeside, Wales, UK
At its October 7 meeting, the Kent County Public Works Department Board of Directors formally approved the start of negotiations for a US $ 280 million landfill waste diversion facility with Anaergia and its partner Continuus Materials. In addition, the State of Michigan has allocated US $ 4 million to Kent County to “help the infrastructure necessary for the development” of this project. The facility is expected to be a world-class recovery facility, meeting the county’s ambitious landfill diversion targets, while supporting its visionary sustainability goals, recovering RNG, fertilizers and high-value products from solid waste. County. Anaergia and Continuus Materials’ investment in this business would also serve to improve the economy of western Michigan, creating the new jobs needed to produce a range of valuable products from the large amount of material to be diverted. from the county dump.
This morning, EQTEC plc (EQTEC) announced that it has obtained a resolution from the planning committee of Flintshire County Council (Wales, UK) to grant consent to the planning of an advanced gasification facility deploying the technology EQTEC in its Deeside Refuse Derived Fuel project. This announcement also indicates that EQTEQ has entered into a cooperation agreement with Anaergia to develop a proposal for the delivery of the multi-technology waste-to-energy project to Deeside. This project would involve the combination of a 182,000 tonne waste reception and treatment plant with anaerobic digestion and advanced EQTEC gasification technology.
Anaergia was created to eliminate a major source of greenhouse gases (“GHG”) by profitably transforming organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record of delivering leading projects across four continents, Anaergia is uniquely positioned to provide end-to-end solutions for the extraction of organic materials from waste, the implementation of high efficiency anaerobic digestion, upgrading of biogas, production of fertilizers and water cleaning. Our clients are in the municipal solid waste, municipal wastewater, agriculture and food processing industries. In each of these markets, Anaergia has built many successful factories, some of the largest in the world. Anaergia owns and operates some of the factories that it builds, and it also operates factories that are owned by its customers.
This press release may contain forward-looking information within the meaning of applicable securities laws, 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 control of the Company. Actual results could differ materially from those projected in this document. Anaergia assumes no obligation to update this forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.
For more information, please visit: www.anaergia.com
Source: Anaergia Inc.