Byont, a leading European biogas producer across the Benelux region, has secured a significant equity investment from Asterion Industrial Partners to invest into biogas plants across Europe.
Asterion is an independent investment management firm focusing on European infrastructure with over €4bn assets under management.
Benelux biogas producer Byont has received a significant equity investment from Asterion for the acquisition of multiple European CHP projects, to strategically upgrade them to produce biomethane or Bio-LNG.
Alongside the substantial capital raise, Byont is pleased to announce the acquisition of its first two large scale CHP projects, from Arbio BV and Biofer BV respectively, which will be upgraded to produce biomethane.
Asterion’s equity investment will also fund a further pipeline of acquisition opportunities across Europe.
Longspur Capital acted as sole Financial Advisor on the capital raise and acquisitions.
The two plants that have been acquired to date, located in Belgium, are CHP projects that ferment manure and other organic waste into valuable products that can be used to decarbonise the energy sector.
After the projects have been upgraded, they can produce enough biomethane to replace c. 15 million m3 of natural gas and reduce 50,000 tonnes of CO2 per annum.
Roel Slotman and Jacco van de Velde, management of Byont, commented: “We are very grateful for the support from Longspur in bringing this transaction to successful close and we look forward to working with Asterion to deliver our ambition of accelerating the energy transition. Asterion’s experience in the sustainable infrastructure sector will be a valuable contribution to our long-term strategy.”
Bas Verloop and Michiel Klomp, partners at Longspur Capital, added: “Longspur is delighted to have supported Byont in this landmark transaction. We would like to thank Asterion Industrial Partners and their respective advisors for making this an enjoyable and positive process. Biogas is an incredibly important feature of our future energy system, and we look forward to seeing Byont’s future success.”
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