@Waga Energy has obtained long-term, non-recourse bank financing of €6,6 million from Bpifrance to finance its biomethane production unit, which went into operation on June 20 near Barcelona at the Can Mata controlled deposit managed by @PreZero. The loan will serve to repay the Group's own capital contributions for the start-up of the plant. Waga Energy fully financed the construction of this facility, as well as its connection to the local gas network.
Using the WAGABOX® technology, developed and patented by Waga Energy, this innovative installation produces biomethane, a renewable substitute for fossil natural gas, by purifying the biogas emitted by the degradation of organic matter contained in waste. The renewable gas produced is injected directly into the local gas network.
The WAGABOX® unit will supply 70 GWh of biomethane per year, equivalent to the annual consumption of 14.000 Spanish homes or 200 heavy vehicles. Its implementation will avoid the emission of around 17.000 tons of CO² by replacing fossil natural gas.
Since its launch, it has generated income through the sale of biomethane under a long-term private purchase and sale contract. This energy transition project has also received a European grant of 2,4 million euros within the Innovation Fund Small Scale program, aimed at promoting the development of innovative technologies with low carbon emissions.
