Zenith Energy is acquiring an Italian biogas development company that holds the rights to construct a fully permitted and engineered production facility.
The listed energy company has capped the acquisition price at €1.6m for the business and its associated project, which is projected to produce approximately 3m cubic metres of methane gas per annum once operational.
It added that further details regarding the final consideration, the vendor, the target company and the specific location of the asset will only be disclosed upon completion.
Zenith Energy said the project is expected to generate annual revenue of around €5m at full operational capacity.
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