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LONDON, February 28, 2024 /PRNewswire/ -- CycleØ Group Limited (CycleØ) today announces the acquisition of Biogasclean, a leading Danish company in biological desulfurization and methanation systems. CycleØ, a leading pan-European biomethane platform, develops, builds, and operates its own renewable natural gas (RNG) projects in Europe and Latin America.
Ara Partners, a leading private equity and infrastructure investment firm in industrial decarbonization, provided the additional capital to facilitate the transaction.
This strategic acquisition represents an important milestone for CycleØ and the biomethane sector in general, as it will provide more efficient and completely circular solutions by capturing the biogenic CO contained in biogas and converting it into synthetic methane, a sustainable gas derived from green hydrogen that It can be stored or used as an alternative to fossil natural gas.
The ability to capture CO and convert it into synthetic methane will increase the efficiency of biomethane facilities, further reducing greenhouse gas emissions and increasing sustainable gas production by around 70%.
"We are delighted to welcome the talented and experienced team at Biogasclean" stated Laurence Molke, CEO of CycleØ. "Integrating their patented biocatalyst technologies into our biomethane plants will allow us to increase the production of fuels with even more negative carbon emissions for the electrification sectors, such as industry, heavy transport and the gas grid."
Biogasclean is a global player in the biological desulfurization sector, with five offices on three continents and more than 350 systems operating or underway in more than 40 countries.
The company's innovative biological methanation technology has been proven as an integral part of the world's largest plant to produce, on a commercial scale, synthetic methane through electrolysis and biological methanation. These facilities are located in Sønderborg on Als in Denmark and inject 33 GWh of sustainable synthetic methane into the gas grid annually.
"We are at a crucial time and the window to avoid the worst effects of climate change is narrowing every day," said Niels Holst Jensen, CEO of Biogasclean. “Together, CycleØ and Biogasclean are uniquely positioned to reduce methane emissions and capture CO from the atmosphere, at scale.”
Chris Picotte, partner at Ara Partners, said: "CycleØ's acquisition of Biogasclean completes circularity in the group's biomethane production and helps Europe meet its aggressive 2030 decarbonisation targets.
"This operation is a further reflection of Ara's sustainability principles and our continued focus on decarbonizing key sectors with proven technologies."
About CycleØ
CycleØ is a pan-European biomethane platform and is part of the Ara Partners portfolio. The company is a comprehensive producer of compressed and liquefied biomethane intended for both vehicular use and injection into the gas network. The CycleØ Group invests in the development, construction and operation of its own small and medium-scale biomethane projects. The company is currently developing and operating plants in Spain, Italy and Ireland, with the ambition to build, own and operate at least 50 plants in Spain and Europe by 2028.
To learn more about CycleØ, visit www.cycle0.com.
About Biogasclean
Biogasclean specializes in providing biological methanization and desulfurization processes for biogas and CO. Biogasclean develops, manufactures and supplies fully automated systems for gas treatment, which combine low operating costs with high availability. The company's history includes 350 systems in operation or under construction in 40 countries. Biogasclean supplies clean gas to 700 MW gas engines and boilers and removes sulfur from 40 biogas purification plants for biomethane (RNG).
To learn more about Biogasclean, visit https://biogasclean.com.
About Ara Partners
Ara Partners is a global infrastructure investment and private equity firm focused on industrial decarbonization. Founded in 2017, Ara Partners seeks to build and develop companies with a significant impact on decarbonization within the industrial and manufacturing, chemical and materials, energy efficiency and green fuels, as well as food and agriculture sectors. The company operates from offices in Houston, Boston, Washington, D.C. and Dublin. Ara Partners closed its third private equity fund in December 2023 with more than $2.8 billion in capital commitments. As of September 30, 2023, Ara Partners had approximately $5.6 billion in assets under management.
For more information about Ara Partners, visit www.arapartners.com.
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