- Acquisition puts CycleØ at the forefront of synthetic green gas innovation via carbon capture and utilisation (CCU)
- CycleØ now offers a fully circular biomethane solution which captures methane emissions and CO2
- Biogasclean is one of the few companies worldwide pioneering a biological methanation process
- Biomethane production could replace up to 40% of the EU's total fossil natural gas consumption by 2050
LONDON, Feb. 28, 2024 /PRNewswire/ -- CycleØ Group Limited (CycleØ) today announces its acquisition of Biogasclean, a leading Danish supplier of biological methanation and desulphurisation systems. A prominent, pan-European biomethane platform, CycleØ develops, builds, owns and operates renewable natural gas (RNG) projects in Europe and Latin America.
Ara Partners, a private equity and infrastructure investment firm at the forefront of industrial decarbonisation, provided additional capital to facilitate the transaction.
This strategic acquisition is a significant milestone for CycleØ and the biomethane sector in general. It will enable more efficient and fully circular green gas solutions by capturing the biogenic CO2 contained in biogas and converting it into e-methane-a sustainable, synthetic gas derived from green hydrogen that can be stored or used as an alternative to fossil natural gas.
The ability to capture naturally occurring CO2 and convert it into e-methane increases the efficiency of biomethane sites, further reducing greenhouse gas emissions and increasing green gas production by ~70%.
Laurence Molke, CEO, CycleØ, said: "We are delighted to welcome Biogasclean's talented and experienced team to our Group and look forward to deploying their patented biocatalyst technologies to produce more carbon-negative fuels for the hard to electrify energy, heat, transport, and industrial sectors."
Biogasclean is a global player in the biological desulphurisation field, with five offices in three continents, and over 350 systems operating or underway in 40+ countries.
The company's trailblazing biological methanation technology is proven at scale as an integral part of the world's largest plant to commercially produce e-methane via electrolysis and biological methanation. Located in Sønderborg on Als in Denmark, these facilities inject 33 GWh of sustainable e-methane into the gas grid annually.
"We stand at a pivotal moment, and the window to avoid the worst effects of climate change is getting narrower by the day," said Niels Holst Jensen, CEO of Biogasclean. "The combination of CycleØ and Biogasclean is uniquely positioned to reduce methane emissions and capture CO2 from the atmosphere, at scale."
Chris Picotte, Partner at Ara Partners, said: "CycleØ's acquisition of Biogasclean completes the group's biomethane carbon loop, and helps Europe to meet its aggressive 2030 decarbonisation targets.
"This deal is a further reflection of Ara's sustainability principles and our ongoing focus on decarbonising key sectors with proven technologies."
About CycleØ
CycleØ is a pan-European biomethane platform, and a portfolio company of Ara Partners. As an integrated producer of compressed and liquefied biomethane, the company captures methane emissions from the agri-food sector, transforming them into renewable natural gas, or biomethane. This gas is then utilised to decarbonise both the transport and maritime sectors and the gas grid. The company currently has sites in planning and operation in Spain, Italy and Ireland-with ambitions to build, own and operate at least 50 plants across Europe by 2028. With its manufacturing subsidiary, FNX, CycleØ employs proprietary, market-leading technology for biogas upgrading and liquefaction.
To learn more about CycleØ, visit www.cycle0.com.
About Biogasclean
Biogasclean is specialised in biological methanation and desulphurisation of biogas and CO2. Biogasclean develops, manufactures and supplies fully automated gas treatment systems combining low operating costs with high availability. The company's track record comprises +350 plants in operation or under construction in +40 countries. Biogasclean supplies clean gas to +700 MW gas engines and boilers and removes sulphur from +40 biogas upgrading plants for biomethane (RNG).
To learn more about Biogasclean, visit https://biogasclean.com.
About Ara Partners
Ara Partners is a global private equity and infrastructure investment firm focused on industrial decarbonisation. Founded in 2017, Ara Partners seeks to build and scale companies with significant decarbonisation impact across the industrial and manufacturing, chemicals and materials, energy efficiency and green fuels, and 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 over $2.8 billion in capital commitments. As of September 30, 2023, Ara Partners had approximately $5.6 billion of assets under management.
For more information about Ara Partners, please visit www.arapartners.com.
Photo - https://mma.prnewswire.com/media/2345401/Cycle0_Group.jpg
Logo - https://mma.prnewswire.com/media/2345400/Cycle0_Logo.jpg
For all media enquiries:
Billy Holmes
cycle0@greenhouse.agency
+44 (0)7827 589014
View original content:https://www.prnewswire.co.uk/news-releases/cycleo-acquires-biogasclean-to-increase-fully-circular-green-gas-production-by-capturing-co-302073202.html
