Biogen, a waste-to-green energy services provider in the UK, has acquired a portfolio of five operating plants from The Ingenious Group.
The Partners-backed renewable energy specialist has invested an undisclosed amount to buy the assets, expanding its green energy anaerobic digestion plants across the UK. The acquisition was funded by the Ancala Essential Growth Infrastructure Fund (Growth Fund).
Biogen鈥檚 existing network of 14 plants has a total capacity of 26.8MWe and processes more than a tenth of the UK鈥檚 food waste. The latest deal expands the firm鈥檚 assets to 19 green energy anaerobic digestion plants and three organic composting sites with a 36MWe total capacity.
Ruby Jones, CEO, Biogen, said: 鈥淭his acquisition is an attractive addition to the Biogen portfolio. The plants provide Biogen with further exposure to renewable gas to grid technology, increasing our role as a producer of renewable energy in the UK and further supporting the nation鈥檚 2050 net zero target.鈥�
Ankur Ajmera, partner at Ancala Partners, said: 鈥淭his transaction further builds on Biogen鈥檚 position as a leading operator in the UK鈥檚 anaerobic digestion sector.
鈥淲e are working closely with Biogen鈥檚 management team to deploy green gas to grid capacity across its network and are actively seeking new acquisition opportunities to further expand Biogen鈥檚 footprint.鈥�
Ancala invested in Biogen in 2017. Last month, Ancala鈥檚 Growth Fund secured 拢551m (鈧�636.3m) from institutional investors in Europe, North America and Asia to invest in its UK portfolio companies Portsmouth Water, Biogen and Leep Utilities.
At the time Ancala said the capital raised for the new fund will help expand and accelerate the businesses鈥� energy-transition strategy.
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