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BURLINGTON, Ontario, August 03, 2021--(BUSINESS WIRE)--Anaergia Inc. ("Anaergia" or the "Company") (TSX: ANRG) announced today the acquisition of its indirect subsidiary, Rhode Island Bioenergy Facility, LLC (fka Orbit Energy Rhode Island, LLC), which owns the largest industrial anaerobic digester for food and other solid organic waste recycling in New England. This acquisition expands Anaergia’s footprint in the northeastern United States and its capacity to address increasing demand for organic waste recycling.
The Rhode Island Bioenergy Facility, as the project is called, can process over 100,000 tons of organic waste per year at its location in Johnston, Rhode Island. Such waste, that otherwise would have been landfilled or incinerated, is processed into clean energy, fertilizer, and water, while reducing greenhouse gases.
Anaergia intends to see the facility is upgraded with industry leading technology and other improvements that will optimize operations and financial performance in converting organic waste into carbon negative renewable natural gas. The financial impact of this development is in line with the expectations in Anaergia’s previously released financial forecasts.
"We are very pleased to welcome Anaergia to Rhode Island," said Rhode Island Commerce President Jesse Saglio. "This facility will not only help the state achieve its waste diversion goals, but also add new food-related jobs to our economy. Anaergia complements other food-related investments made recently in the state, and this plant helps provide security to the future growth and success of this important industry."
"Our acquisition of this facility extends Anaergia’s own-and-operate activities to the East Coast of the U.S. This facility enables Anaergia to invest in sustainable infrastructure that generates high tech jobs, serves the community, and expands our capacity to generate carbon negative fuel," said Andrew Benedek, Anaergia’s Chairman and CEO.
Anaergia was created to eliminate a major source of greenhouse gases ("GHGs") by cost effectively turning organic waste into renewable natural gas ("RNG"), fertilizer and water, using proprietary technologies. With a proven track record from delivering world leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the Municipal Solid Waste, Municipal Wastewater, Agriculture, and Food Processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.
This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
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