UK-based Future Biogas has expanded its portfolio by acquiring six gas-to-grid anaerobic digestion (AD) facilities from JLEN Environmental Assets Group Limited (JLEN).
Under the £68.1 million ($87.5 million) deal, Future Biogas will obtain a 51% stake in the portfolio, which collectively produces 333 gigawatt hours (GWh) of gas.
The agreement includes £30 million ($38.5 million) funded by investment firm 3i Infrastructure, with the remainder financed by Future Biogas through committed debt facilities.
Philipp Lukas, CEO of Future Biogas, commented on the acquisition: “We are familiar with these assets, having developed and managed them for an average of eight years.”
Lukas further explained that the purchase aligns with the company’s strategy to build a scalable AD platform and advance its green gas objectives.
“Importantly, this acquisition supports our Project Carbon Harvest mission, which aims to generate and supply green gas, thereby contributing to the decarbonization of UK farms and industry.”
Since 3i’s investment in Future Biogas last year, the company has shifted from being a third-party plant operator to an asset owner and developer, now holding a pipeline of new sites totaling 1.3 terawatt hours (TWh).
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