Patrizia Infrastructure acquires Italian bio-LNG producer Biomet

Patrizia’s infrastructure arm has invested €75m on behalf of its second European fund to buy Italian bio-liquified natural gas (LNG) producer Biomet.

Patrizia Infrastructure, through its European Infrastructure Fund II fund, has acquired an 80% stake in Biomet from Italian gas entrepreneur Walter Lagorio and from Ankorgaz, the vehicle of Biomet CEO and founder, Antonio Barani, which remains a 20% shareholder.

Biomet is a vertically integrated bio-LNG producer that will be Europe’s largest plant producing bio-LNG from biomethane coming from bio-waste. It is currently developing two new facilities located 40km south of Milan.

Barani said Italy has a shortfall of liquefaction plants, while demand for LNG and bio-LNG is increasing as the need for decarbonisation continues.

“This is reflected in the regulatory framework and policy backdrop which is increasingly supportive of the need for increased biogas and sustainable fuel sources.

“Biomet has the ability to lead the way in this sector, being both optimally located and vertically integrated along the entire value chain - from biomethane production from waste to upgrading, to liquefaction/bio-LNG production and sales at a nearby filling station,” said Barani.

Matteo Andreoletti, the head of infrastructure equity in Europe and North America at Patrizia said Biomet has a critical role to play in Italy’s energy transition as well as in supporting local agricultural communities.

“Not only does our investment in Biomet represent exceptional ESG credentials and opportunities for future growth for our clients, it also continues our long history of successfully partnering with regional infrastructure champions to make a positive impact in our communities.”

The acquisition marks the debut investment for Patrizia’s recently acquired infrastructure business. The deal represents Patrizia Infrastructure’s second investment in Italy on behalf of its investors and funds, the manager said. 

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