French green tech firm Waga Energy has signed a €128m financing agreement to drive biomethane development.
The loan, arranged through a pool of lenders, will refinance a portfolio of around 20 Wagabox units in operation, finance projects under construction in France, Spain and Italy, and help develop new projects not yet contracted in Europe.
Jean-Michel Thibaud, Group Chief Financial Officer and Deputy General Manager of Waga Energy, said the transaction illustrates the “renewed confidence” banking partners have in its business model.
©Waga Energy
The 11-year-old company is also growing ties in North America too.
Randolph County selected Waga Energy to build and operate a biomethane production unit at the Great Oak landfill site in Randleman, North Carolina, at the end of June.
Waste management company Casella Waste Systems officially at the Chemung County Landfill in Elmira, New York, in May. The plant uses Waga Energy’s Wagabox technology to convert landfill gas into pipeline-quality biomethane.
It followed financial aid totalling CA$15m ($10.8m) from Quebec’s Ministry of Economy, Innovation and Energy for a
The WAGABOX system purifies raw landfill gas through membrane filtration by removing impurities such as water, volatile organic compounds and hydrogen sulfide, and through cryogenic distillation by cooling gas to extremely low temperatures to separate methane from oxygen, nitrogen, and carbon dioxide.
