ADBA member BioWatt completes framework agreement with one of Europe's largest biogas developer

ADBA MEMBER PRESS RELEASE

The boards of agri.capital S.a.r.l. (agri.capital) and BioWatt Developments Limited (BioWatt) are pleased to announce that they completed a mutual cooperation Framework Agreement on 24 October 2012.

The purpose of the agreement is to provide agri.capital with an immediate presence in the UK, a stream of investment opportunities, and to represent the companies’ interests in the important and rapidly growing anaerobic digestion and biogas fields. BioWatt has generated, and continues to add, a considerable pipeline of attractive prospects in the renewable energy sector. With the support of, and the access to funding available through agri.capital and others, BioWatt is now able to make a significant contribution to the development of new projects.

The core business of BioWatt is the sourcing, creation, development, operation and management of profitable low risk biogas projects. agri.capital’s initial objective is to secure a 50 MW capacity in the UK through majority ownership of such projects. In addition, BioWatt will offer long-term facilities management of its own and third party projects where required.

Michael Roberts, chairman, BioWatt,said:

BioWatt is extremely pleased to be entrusted with the crucial mission to spearhead agri.capitals’ entry into the UK market.

 

agri.capital has the experience and expertise to become a dominant force in this sector in a similar way to its successes in mainland Europe. BioWatt has the skills and knowledge to fulfill the key complementary role through its own resources, networks and knowledge of the key investment factors relevant to the UK Biogas market.

 

A number of projects are currently in the process of final evaluation by agri.capital and BioWatt is actively seeking new opportunities where it can add further value.

Dr. Anton Daubner, chief executive, agri.capital said:

Biogas is unique among renewable energy sources in being reliable, storable, and transportable, with application for electricity, heating and transport.

 

We believe biogas and biomethane will be critical to Europe reaching its renewable energy and greenhouse gas reduction targets for 2020 and beyond. We have built a substantial business in the EU, principally in Germany, and we are very pleased to be able to partner with BioWatt as our first step into becoming a significant player in the UK market.