Anaergia

Overview
Alternative Energy?
Product stageSegments

Anaergia is a Canada-based waste-to-energy company that converts organic waste into biogas. Anaergia claims that its proprietary digestion technology can generate three times more biogas from the same footprint compared to existing technologies. Anergia also provides biomethane upgrading solutions to refine biogas into biomethane or liquified natural gas (LNG) for vehicle fueling. Anaergia also offers wastewater reuse and organic extraction solutions for waste management. 

Key customers and partnerships

As of March 2024, Anaergia anaerobic digestion technology has been deployed at more than 1,000 locations in more than 17 countries. 

In October 2021, Anaergia acquired two Danish subsidiaries to deploy a new anaerobic digestion facility in Denmark. The Envo Biogas plant in Tønder, Denmark was then sold to Copenhagen Infrastructure Partners’ Advanced Bioenergy Fund I in February 2023 .

In January 2022, Aneargia supplied its first renewable liquefied natural gas project to Agriferr, an Italian agricultural company. Anaergia also commissioned two RNG facilities in Italy during April and June 2022. 

In March 2022, Anaergia and Continuus Materials , a building materials supplier,  signed a project development agreement (PDA) with Kent County Board of Public Works to build a USD 280 million material recovery facility (MRF). In January 2022, the company also partnered with Carbon Cycle North Carolina (C2NC), a renewable energy project developer, to expand C2NC’s waste-to-energy facility. In July 2022, Anaergia expanded its partnership with Toyo Energy Solution , a subsidiary of Toyo Group, a Japanese real estate and construction provider, to deploy a second biogas facility in Okayama, Japan. During the same month the company deployed its proprietary equipment at Sterling Natural Resources Center (SNRC) , to convert 130,000 gallons of food waste and biosolids per day into biogas. 

In August 2022 , Anaergia deployed its food waste treatment system at the Singaporean Tuas Nexus integrated waste management facility (IWMF), to convert 400 tons of food waste into biogas. The company also signed an agreement with European Energy , to supply the company with up to 60,000 tonnes of liquefied biogenic carbon dioxide (CO2) per year for a period of 10 years. 

In January 2023, Anaergia agreed to supply 350 million cubic feet of RNG annually to Irving Oil. In May 2023 , Anaergia agreed to provide technologies that will enable Monterey One Water to create renewable energy from food waste and wastewater. In the same month, the company agreed to supply renewable natural gas to FuelCell Energy’s Tri-gen system.

Funding and financials

In December 2023, Anaergia entered into a definitive agreement to sell USD 15.6 million of Inflation Reduction Act (IRA) investment tax credits generated by its subsidiary, Rhode Island Bioenergy Facility Holdco. During the same month , the company secured CAD 40.8 million (~USD 30.8 million) in equity investment through a three-tranche, non-brokered private placement from Luxembourg-owned Marny Investissement SA. In September 2023, Anaergia’s subsidiary, Rhode Island Bioenergy Facility, closed a USD 20 million term loan with East West Bank to finance the construction and commissioning of the RIBF project. In July 2023, Anaergia was awarded a USD 5 million grant from the Michigan Public Service Commission to support the development of the Kent County Bioenergy Facility. 

In June 2021, Anaergia was listed on the Toronto Stock Exchange raising CAD 175 million (USD 140 million).  Anaergia generated revenue of CAD 162.9 million (-USD 119.8 million) and adjusted EBITDA of -CAD 22 million (-USD 16.2 million) in 2022.

HQ location:
4210 South Service Burlington Toronto ON CAN
Founded year:
2010
Employees:
501-1,000
IPO status:
Public
Total funding:
USD 96.8 mn
Last Funding:
USD 19.5 mn (Post IPO Equity; Dec 2023)
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EDGE Insights

Next-gen climate and energy (Q3 2023): Innovation and commercialization intensify as funding recovers
Next-gen climate and energy (Q2 2023): Fusion and climate risk analytics promises

Recent Updates

Funding
Dec 18, 2023
Anaergia raises CAD 40.8 million in equity funding
Alternative Energy
Partnerships
Product updates
Jun 9, 2023
Anaergia to build food waste and wastewater sludge co-digestion facility
Alternative Energy
Product updates
Feb 27, 2023
Anaergia sells its biomethane plant to Copenhagen Infrastructure Partners
Alternative Energy
Partnerships
Aug 17, 2022
Anaergia to supply liquefied biogenic CO2 to European Energy
Alternative Energy
Earnings/results
Aug 15, 2022
Anaergia’s Q2 revenue up 58% YoY; maintains full-year guidance
Alternative Energy
Partnerships
Aug 2, 2022
Anaergia to deploy its food waste treatment system in Singapore
Alternative Energy

Funding


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