Cash injection for agri.capital
Article Date: May 21 2009Renewable energy company agri.capital has received €60 million (£53 million) in its latest funding round led by US investment house TCW Group.
The company, which describes itself as the largest producer of biogas in Europe, has operations in Germany and Austria. Its backers include AIM-listed Ludgate Environmental Fund, which has invested €5 million to date, including €2 million in this latest round.
agri.capital will use the new funding to expand its presence in Europe and ‘explore acquisition opportunities’. It has 44 sites under management generating 32.2 megawatts (MW) of installed capacity, which it plans to increase to 100 sites producing 115 MW by 2011.
Peter Stepany, co-CEO of the company, says, ‘This funding represents a significant milestone. Our goal is to continue as the market leader in biogas generation in Europe.’
