Biogas developer and Andion CH4 announced it has secured €67 (USD$79 million) in a private credit facility, with proceeds aimed at supporting the expansion of its biogas and biomethane project pipeline across Italy and the Nordic region.
The financing was provided by Goldman Sachs Alternatives, the private credit arm of Goldman Sachs’ asset management business.
Christian Schaefer, Managing Director, and Co-Head of Climate Credit at Goldman Sachs Alternatives, said:
“The unique construct of Andion’s portfolio required a tailored financing, and we are excited to support Andion’s management team and shareholders with a structured private credit solution to accelerate the growth of their platform.”
In addition to the new facility, the company also announced a “considerable” equity contribution from existing shareholders, led by infrastructure-focused investor Equitix.
Founded in 2017, Luxembourg-based Andion CH4 specializes in converting organic waste streams, including food waste, agricultural residues and wastewater sludge into usable renewable energy, primarily biogas and methane.
According to the company, the new financing marks a major milestone in its mission to become a large European biomethane operator, as engineered biogas assets are emerging as a resilient, long-term investment class, driven by a combination of Europe’s energy security priorities, its RePowerEU objectives, and its FitFor55 climate targets.
Jonas Martin-Löf, CEO and Chairman of Andion said:
“This marks a significant realisation and commitment of our steadily growing biomethane platform in the Italian and Swedish biomethane marketplace. Our partnership with Goldman Sachs Alternatives and our current shareholders demonstrates a strong confidence in foremost our team, but also our technology, project development and ability to deliver, own and operate biogas projects at scale.”
