Spain has the potential to produce 120 TWh of biomethane in 2050, becoming the third producer of this renewable gas in the European Union. FNX and CycleØ have recently reaffirmed their commitment to boosting this potential by acquiring the building of more than 7.000 square meters that houses FNX operations, located in Artea (Vizcaya) for a value of 2,4 million euros.
The company will continue to invest in the property, as it plans to work with Basque suppliers to make improvements that will substantially increase its productive capacity and further reduce its carbon footprint. All this with the aim of responding more efficiently and quickly to the important demand for biomethane in Spain and Europe.
FNX specializes in the design, production and operation of integrated biogas treatment systems, building plants that use agri-food waste to produce biomethane, a renewable gas that is used directly to decarbonize the transportation industry and the gas network.
“Our facility in Artea is where we design, manufacture and rigorously test our small and medium scale modular biogas purification and biomethane liquefaction units to ensure quality, ease of installation and maximum efficiency,” stated Íñigo Güemes Oria, Industrial Director of FNX. «The purchase of the industrial warehouse represents a key factor in driving Spain to achieve its energy transition objectives, using technology developed in our country, which, in addition to further reducing the environmental impact, will result in an increase in job creation. local greens”.
The company has been manufacturing modular natural gas liquefaction equipment for more than 15 years. In 2019, FNX focused its expertise on the production of renewable natural gas and became the first company in the country to develop its own purification, or biogas, technology in addition to Bio-LNG.
In 2022, CycleØ acquired the majority of the FNX company through a significant capital injection from Ara Partners, a leading private equity firm specialized in industrial decarbonization. All of this with the aim of developing a European biomethane production platform, promoting growth mainly in Spain through the development and management of its own biomethane projects.
The building of more than 7.000 square meters, located in the Artea industrial estate, less than 30 kilometers from Bilbao, has been the headquarters of FNX throughout its 15 years of history. Until now, the company rented the building to a Basque banking entity. FNX has recently reached an agreement to acquire the property for €2.450.000, through a capital injection from CycleØ.
For FNX and CycleØ, the purchase of the building represents a long-term investment in the region and a solid foundation on which to expand their operations in the country and the EU.
"This acquisition reinforces our commitment to the local community and to Spain as a whole," said Jordi Berengué Piqué, Managing Director of FNX. «Biomethane is an indispensable vector to promote the energy transition and achieve climate neutrality in 2050. In Spain we have great potential, and the biomethane sector is just taking off.»
Spain has plans to generate 42% of its energy from renewable sources, with a potential to produce 163 TWh of biomethane per year by 2030. To achieve this, it is necessary to invest in projects that make use of agri-food waste located in rural areas, which are not always easy to access. CycleØ's decentralized small and medium-scale projects offer a key solution for the utilization of this waste.
"Playing a key role in helping Spain achieve its energy and decarbonization goals is a fundamental part of our broader mission to help the EU achieve carbon neutrality by 2050 and slow the pace of climate change," added Laurence Molke, CEO of CycleØ. "Providing additional capital to FNX to purchase this building is a key step in advancing this urgent mission."
