BURLINGTON, Ontario, August 17, 2022--(BUSINESS WIRE)--Anaergia Inc. ("Anaergia" or the "Company") (TSX:ANRG) today announced it has signed an agreement with European Energy A/S ("European Energy"). Under the terms of this agreement Anaergia is to supply European Energy with up to 60,000 tonnes per year of liquefied biogenic Carbon Dioxide ("CO2") for a period of 10 years.
Biogenic carbon dioxide is carbon dioxide that is released during the decomposition of organic matter such as food waste. All Anaergia plants use organic waste material to produce biogas, which is composed of methane and carbon dioxide. Once this gas is processed, Anaergia produces pipeline quality Renewable Natural Gas and a clean stream of carbon dioxide that normally gets released to the atmosphere where it originally came from. Biogenic carbon dioxide that comes from organic material is considered a desirable raw material for low-carbon fuels as its use does not add new carbon to our atmosphere.
European Energy, a major multinational renewable wind and solar energy producer, will produce green e-methanol from this biogenic CO2. Under the terms of an agreement European Energy had previously entered into with A.P. Moller - Maersk, a global leader in integrated container logistics services, with operations in 130 countries, the green e-methanol will be used to power the first container vessel that A.P. Moller - Maersk is having built to operate on this carbon neutral fuel.
Anaergia will provide the liquified CO2 from the anaerobic digesters that will operate at its plant being built in Tønder, Denmark. Owing to this agreement with European Energy, Anaergia will build a state-of-the-art CO2 liquification system at the plant.
"The benefit for us is the ability to sell the biogenic CO2 from our plants that is produced when we convert organic materials to methane and CO2. By selling this CO2 instead of returning it to the atmosphere, our plants contribute to de-carbonizing hard-to-abate sectors, such as shipping, while becoming more profitable, as we turn this waste gas from our plants into a useful fuel," said Andrew Benedek, Chairman and CEO of Anaergia.
"This is a great example of carbon capture and utilization ("CCU"), a critical step on the path towards net zero. We are looking forward to working with European Energy on this innovative endeavour, and to potentially working with them on other projects in the future as the need for green methanol rises globally," added Dr. Benedek.
Knud Erik Andersen, co-founder and CEO of European Energy added: "We are thrilled to team up with Anaergia for the supply of biogenic CO2 to our Danish e-methanol plants. In Anaergia, we have found a partner that like European Energy is committed to fight climate change through new technologies that can make a real impact. We look forward to working with Anaergia, not only in Denmark, but also throughout the world."
About European Energy
European Energy develops, finances, constructs and operates wind and solar farms as well as large-scale hydrogen and e-methanol plants. Based in Copenhagen, Denmark, the company has a strong track record as a renewable energy operator across its 24 countries of operation. Founded in 2004, European Energy has a development pipeline of more than 20 GW of renewable energy projects.
Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (RNG), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.
This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events, including statements relating to the ability of our technologies and projects to address about two-thirds of all point source methane emissions and our business plans, growth strategies and ESG initiatives. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company’s annual information form dated March 28, 2022, for the fiscal year ended December 31, 2021. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information please see: www.anaergia.com
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