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Waga Energy : Waga Energy announces the launch of its IPO on the Euronext regulated market in Paris

10/14/2021 | 01:31am EST

Waga Energy Waga Energy : Waga Energy announces the launch of its IPO on the Euronext regulated market in Paris 14-Oct-2021 / 07:30 CET/CEST Dissemination of a French Regulatory News, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.


Waga Energy announces the launch of its IPO on the Euronext regulated market in Paris

Meylan, France, 14 October 2021 ? Capital increase of around EUR100 million, (of which EUR13 million of extension clause) which may beincreased to around EUR115 million upon full exercise of the overallotment option ? Approximately EUR45 million already secured under subscription commitments from:? Vitol, Viva Energy and CMA CGM in the context of the signing of memorandums of understanding; ? Tier-1 institutional climate investor Svenska Handelsbanken and Hermitage Gestion Privée; ? holders of convertible bonds issued in July 2021, subscribed by set-off of receivables. ? Indicative price range of the offering: between EUR19.26 and EUR23.54 per share ? Subscription period: from 14 October 2021 until 25 October 2021 inclusive (at 5.00pm OTC and 8.00pmonline) for the open price offering and until 26 October 2021 at 12.00pm for the global placement ? Eligible to PEA and PEA-SME equity savings plans1

Waga Energy, a European specialist in the production of biomethane from landfill gas, was founded in 2015 at by three engineers from the Air Liquide group, announces the launch of its IPO with a view to having its shares accepted for trading on the Euronext regulated market in Paris (ISIN code: FR0012532810/ticker: WAGA).

The Autorité des Marchés Financiers (AMF) approved on 13 October 2021 the Prospectus under number 21-444, composed of the Registration Document, approved on 28 September 2021 under number I. 21-056, of a supplement to this Registration Document approved on 13 October 2021 under number I. 21-060 and a Securities Note and a summary of the Prospectus (included in the Securities Note).

Mathieu Lefebvre, Guénaël Prince, Nicolas Paget, founding directors of Waga Energy, comment the upcoming IPO:

"Faced with the climate emergency, the major challenge of the 21st century will be to replace fossil fuels with renewable energy. Waga Energy hopes to contribute to this process with its patented WAGABOX(R) technology, which produces large quantities of biomethane at competitive prices using the gas emitted by waste storage sites. As a renewable substitute for fossil natural gas, biomethane is a pillar of the energy transition, and can now replace fossil fuels in transport, housing and industry, which generate the bulk of global greenhouse gas emissions. The WAGABOX(R) units operated by Waga Energy have already injected more than 30 million cubic meters of biomethane, or 320 GWh of energy, thereby avoiding the emission of 52,000 tonnes of CO2eq into the atmosphere.

From its beginnings as a technology pioneer, Waga Energy's ambition is to become a world leader in the production of biomethane, in order to build the energy world of tomorrow, today. Waga Energy's highly dedicated employees are eager to bring their skills to innovative projects that contribute to sustainable development, with the support of the company's customers, partners and investors. The quality of the subscription commitments and the strategic partnerships formed with Viva Energy, Vitol and CMACGM will also contribute to the achievement of Waga Energy's development objectives."

Gas from waste storage sites - an under-exploited source of renewable energy

Each year, humanity produces more than 2 billion tonnes of waste. Over 70% ends up in storage sites (also known as "landfill sites"). These sites spontaneously generate methane, a gas with a warming potential 84 times greater than that of carbon dioxide (CO2) over a period of 20 years.2. Released into the atmosphere, these millions of cubic meters of methane contribute to global warming. When purified of all its pollutants and injected into gas grids, this methane can actively contribute to the fight against global warming. Waga Energy has achieved the technological breakthrough of purifying gas from storage sites into biomethane, and is the first company to offer a simple, efficient and economically viable solution.

Waga Energy, the European specialist in the production of biomethane from landfill gas to support the energy transition

Waga Energy was founded in 2015 in Meylan, right at the centre of the Grenoble innovation ecosystem, by three engineers from the Air Liquide group. Building on 15 years of Research & Development, Waga Energy has developed a disruptive technology for the recovery of gas from waste storage sites, called WAGABOX(R). WAGABOX(R) units are installed on storage sites and purify the biogas produced as organic matter breaks down and transform it into biomethane, a renewable substitute for fossil natural gas. This by-product from treatment of our waste is therefore transformed into clean, local and renewable energy. Biomethane can be stored and transported in existing gas infrastructures, with be used in a number of ways, including for heating, transport, industry, etc.

Waga Energy operates 10 WAGABOX(R) units in France, on storage sites run by industrial players and local authorities. These units, which offer a maximum installed capacity of 225 GWh/year, can power around 35,000 homes and avoid the emission of 45,000 tonnes of CO2e per year into the atmosphere (i.e. the annual emissions of around 17,000 cars). 10 new WAGABOX(R) units are under construction, including one in Spain and two in Canada, which will bring the maximum installed capacity to 475 GWh/year within 18 months. Waga Energy has three international subsidiaries, in the United States (Philadelphia and Pennsylvania), Canada (Shawinigan and Quebec) and Spain (Barcelona). Waga Energy considers itself to be the European leader in the production of biomethane from landfill gas3.

In the first half of 2021, Waga Energy achieved sales of EUR5,193,000 and net income of -EUR2,259,000. Its turnover was EUR9,460,000 for the financial year ended 31 December 2020, with a net profit of


WAGABOX(R): a proprietary, patented technology like no other

WAGABOX(R) technology combines two processes: membrane filtration (to separate the carbon dioxide) and cryogenic distillation (to separate the nitrogen and oxygen). These two processes are integrated into a compact, standardised and fully automated purification unit operated by a remote control device. Once connected to the gas grid, WAGABOX(R) units inject biomethane continuously, with high availability. WAGABOX(R) technology overcomes all the challenges of storage site gas purification, including the variability and unpredictability of the gas and the presence of air (oxygen and nitrogen). It allows storage site operators to maximise the energy potential of waste, while reducing diffuse methane emissions.

A business model for independent biomethane production

Waga Energy commercialises its proprietary technology under a developer-investor-operator model, ensuring rapid and controlled worldwide roll-out. Waga Energy buys raw gas from waste storage site operators, finances the construction of WAGABOX(R) units, operates them, and generates income by selling the biomethane to energy companies. This business model provides income over periods of 10 to 20 years through long-term biomethane sales contracts. Waga Energy finances WAGABOX(R) projects with equity, bank loans and/or bonds using dedicated companies (special purpose vehicles or "SPVs").

A competitive price or equivalent to the grid

The WAGABOX(R) solution can produce large quantities of biomethane all over the world at a competitive price. At storage sites emitting large volumes of gas, Waga Energy is even able to supply renewable gas for the same price as natural gas. The sale price of biomethane produced by the WAGABOX(R) units is between EUR40/MWh and EUR70/MWh, with the production cost decreasing as the unit capacity increases.

A sustainable umbrella model that benefits everyone

Injection of gas from storage sites using the WAGABOX(R) solution creates value and positive synergies for all stakeholders, including storage site operators, public authorities, local communities and energy companies that purchase biomethane. It also contributes to the common good by producing renewable energy to support the energy transition.

A team firmly committed to combating climate change

At the end of September 2021, Waga Energy and its subsidiaries employed 76 people of seven different nationalities, 48% of whom have management status. They are each highly qualified specialists in their field. Firmly committed to combating climate change, the Wagateam has all the skills required to carry out biomethane injection projects on storage sites, from commercial development to financing, design, construction, operation, maintenance, biomethane sales, etc.

A green energy boom in Europe and North America

Biomethane is central to the energy and economic strategies of many countries. In addition to its environmental benefits, it addresses important geostrategic challenges, contributing to the energy independence of States through local production and consumption. Biomethane, which can now be adopted in any country with gas infrastructure, has developed rapidly over the past decade, particularly in Europe and North America. In Europe, production increased by 27% to 28 TWh in 2020, with the goal of reaching 11 % renewable gas in the grid by 2030.4. The International Energy Agency estimates that biomethane consumption could reach 2,392 TWh by 2040. This level of consumption would avoid the emission of 1,000 million tonnes of greenhouse gases, equivalent to the emissions of a country such as India.5

Deploying the WAGABOX(R) solution on a large scale for immediate environmental impact

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October 14, 2021 01:30 ET (05:30 GMT)

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