Waga Energy has signed a $60 million financing agreement with asset manager Eiffel Investment Group to fund the construction of four biomethane production units in the United States. This is Waga Energy's first financing in the United States.

Waga Energy is deploying a purification technology, called 'WAGABOX® ', to produce biomethane, a renewable substitute for fossil natural gas. Seven large-capacity units are currently under construction in the United States.

The purpose of this transaction is to finance Waga Energy's first four projects in the United States, including the Steuben County WAGABOX® unit in Bath, New York. Once in operation, these four units will be able to produce a total of up to 495 GWh of biomethane per year, avoiding the emission of more than 80,000 tonnes of eqCO2 per year into the atmosphere.

Guénaël Prince, Managing Director of Waga Energy Inc. comments: "We are delighted to continue this collaboration, which began in 2020, in support of the energy transition and the fight against global warming".

Copyright (c) 2024 CercleFinance.com. All rights reserved.