Waga Energy Inc has signed a US$180M 4-year senior debt facility[1] to boost its landfill gas (LFG) to renewable natural gas (RNG) platform in the United States, with Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) and HSBC Asset Management as lenders and lender agents.
This financing, illustrating Waga Energy's financial partners confidence in its state-of-the-art technology, will strengthen the group's ability to successfully develop its strong US pipeline of projects, enabling it to boost its expansion of LFG to RNG assets on a large scale[2].
As of today, Waga Energy has signed 13 gas rights with landfill operators in the US (of which 2 Wagabox® in operation and 11 projects under construction), totaling a 5 million MMBtu p.a. (1.4 TWh p.a.) capacity which will help generate renewable gas at an affordable price, with a major impact in terms of avoided methane emissions.
Guénaël Prince, Co-founder of Waga Energy and CEO of Waga Energy Inc.: "We believe that Waga Energy's technology is uniquely positioned to tackle methane emissions from landfills and create long-term value for our partners in the United States. We are grateful to Crédit Agricole CIB and HSBC Asset Management for supporting Waga Energy's acceleration and demonstrating our ability to build a remarkable project portfolio."
Jean-Michel Thibaud, Group CFO and Deputy General Manager of Waga Energy :"We are extremely pleased by this landmark debt transaction with Crédit Agricole CIB and HSBC Asset Management as strategic financing partners, which we warmly thank for this major step in the group's development."
[1] Under the form of a "warehouse facility" to finance construction and the beginning of operations.
[2] For the avoidance of doubt, this financing is totally unrelated to the Investment Tax Credits (ITC) that Waga Energy is eligible to in the US.
View of one of the two Wagabox® units in operation in the United States, in Steuben, New York State. The second one is in Davenport, Iowa.
About Waga Energy
Waga Energy produces competitively priced Renewable Natural Gas (RNG, also known as biomethane) by upgrading landfill gas using a patented purification technology called WAGABOX®. The RNG produced is injected directly into the gas grids that supply individuals and businesses, providing a substitute for natural fossil gas. Waga Energy currently operates 32 RNG production units in France, Spain, Canada and the USA, representing an installed capacity of more than 5.2 million MMBtu (1.5 TWh) per year. To date, Waga Energy has 18 RNG production units under construction worldwide. Each project initiated by Waga Energy contributes to the fight against global warming and helps the energy transition. Waga Energy is listed on Euronext Paris (FR0012532810 - EPA: WAGA).
Contact Us
Investors Relations
Laurent Barbotin
+33 772 771 185
laurent.barbotin@waga-energy.com
Investors - Waga Energy USA
Media Relations
Anne-Gaëlle Fonthieure
+33 611 706 974
anne-gaelle.fonthieure@waga-energy.com
Journalists - Waga Energy USA
Contact : media@waga-energy.com
