Schmack Biogas has teamed up with a fund managed by Swen Capital Partners to invest €30m in European biomethane projects.
The joint venture between Schmack Biogas and Swift, the Swen impact fund for transition, is expected to target Italy as the first market and plans to invest in over 10 biomethane projects in the coming years.
Construction of the first 2 plants is expected to begin in the first half of 2021.
Nicolò Cariboni and Massimo Rossetto, Schmack Biogas’ CEO’s, said: “We are delighted about the incorporation of Biomethane Invest, who will be able to support many outstanding projects in Italy and beyond.
“We are sure that we have found in Swift the optimal partners, with whom we share some key targets and values: not only promoting some great and reliable biomethane projects but also fighting together against climate change and supporting the local communities where the plants will be erected.
“With Biomethane Invest, Swift and Schmack will boast unparalleled commercial, financial and technical capabilities to support the promising Biomethane market.”
Olivier Aubert, Swnen’s fund manager, said: “We are very enthusiastic to support the European biomethane market in its growth. Schmack‘s technology with more than 450 plants is absolutely unique and allows to set very high standards with regard to design, construction and maintenance of reliable and performing biomethane facilities.
“The first two plants in the province of Caserta will recycle up to 160 000 tons per year of manure from local farms and replace 9m cubic meters of fossil natural gas. The plants will also produce fertilisers which will be consumed locally, reduce drastically harmful nitrogen emissions, and create 10 permanent jobs.”
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