Expansion funding for German biogas company
Article Date: Dec 16 2008agri.capital, an operator of biogas plants in Germany, has received €10 million (£9 million) from investors including AIM-listed Ludgate Environmental Fund.
Ludgate, which has raised £47.7 million to date on London’s junior market, contributed €3 million to the funding round, of which eight per cent is preferred stock. The special situations fund of London-based Valiance, which manages companies’ pension funds, also invested.
Bernd Hugenroth, CEO and founder of agri.capital, says the money will enable the business to continue its expansion plans. The four-year-old company currently owns 100 biogas plants at different stages of development.
Nick Pople, director at Ludgate Investments, says, ‘agri.capital uses proven technology, has high and predictable cash flows and can rapidly roll-out fixed-price plants.’
Adds Pople, ‘By combining construction, facility and resource management, financing, logistics and contracting operations in-house, agri.capital is able to efficiently provide reliable, renewable baseload power and heat to the German market.’
