Schmack Biogas AG (20.12.2007)
Schmack Biogas (Germany)has announced that it has signed a framework agreement with HgCapital to an Order volume of approx. EUR 130 million until 2010.
Schwandorf, December 20, 2007. Schmack Biogas AG and HgCapital, a leading private equity investor in Europe, have signed a EUR 130 million framework agreement that will run until 2010. Under the agreement, Schmack Biogas will build 12 to 15 biogas plants with a combined capacity of approximately 30 MW. The bulk of the plant construction volume is expected to be ordered in 2008 and 2009. The framework agreement also covers the development of the respective project sites. Schmack Biogas AG assumes that the site development services provided will be reflected in 2007 and 2008 sales and earnings.
Ulrich Schmack, CEO of Schmack Biogas AG: 'HgCapital is an experienced investor in renewable energies and already has extensive experience with biogas technology. Against this background, the strategic partnership is all the more valuable. We are particularly pleased that Aufwind Schmack, Regensburg, will be in charge of the commercial management of the projects, as the company has already worked successfully with HgCapital in the past.'
Emma Tinker, Director at HgCapital, said: 'We are delighted to have expanded our existing investment commitment in biogas through our partnership with Schmack Biogas, the world's leading biogas business. We believe that biogas is the most technically efficient and economically attractive segment of the bioenergy industry and that the feeding-in of biogas into the natural gas grid is a market with huge potential. Through Aufwind Schmack we have already invested in a number of biogas plants in Germany that use Schmack Biogas's technology. In Schmack Biogas we have found a partner that combines mature technology with a compelling and innovative feedstock and service concept.'