French green gas company KEON has received €40 million (USD 45.4 million) in funding from Sienna Investment Managers (Sienna IM) to help it grow its biogas operations and expand into new markets. The company plans to use the funds to double the number of its projects by 2028 and begin working internationally, reports Renewables Now.
KEON, founded in 2005, builds and operates biogas plants that turn organic waste into energy. It works through four separate branches—Ter’Green, Naskeo, Sycomore, and Teikei—and helps with plant construction, operations, and waste management.
The company already runs 11 biogas plants, is building four more, and is planning at least 18 additional projects. KEON expects to earn €50 million in revenue in 2025.
The funding will be spread over five years and will come from three different funds managed by Sienna IM: Sienna Sustainable Infrastructure Debt III, Sienna Biodiversity Private Credit, and the Energy Efficiency Financing Fund (F2E).This latest support from Sienna IM follows an earlier round of investment in 2022 from the Marguerite investment fund. The new funding marks another step forward for KEON as it works to provide cleaner energy from waste and reduce its environmental impact.
