Nature Energy Biogas A/S (Nature Energy), a producer of biomethane and renewable energy from organic waste, announces it has entered into a definitive agreement under which Shell Petroleum NV, a wholly owned subsidiary of Shell plc, will acquire 100% of the company for a total enterprise value of nearly $2 billion. Nature Energy is currently owned by a consortium of institutional investors, including Davidson Kempner Capital Management LP, Pioneer Point Partners and Sampension (collectively, the NGF Partnership).
Nature Energy reportedly owns and operates 14 industrial scale biomethane plants and an international development pipeline of about 30 plants across Europe and North America. The company applies a design-build-own-operate model to all its projects.
For Shell, the acquisition reportedly increases the company’s ability to work with its customers to accelerate its transition to net-zero emissions. It will also support Shell’s ambition to profitably grow its low-carbon-fuels production.
Over the last five years, Nature Energy says it has experienced a phase of intensive growth through strategic investments, increasing the number of plants in operation from four to 14 and its biomethane production from 37mm m3 (c. 1.3mm MMBtu/yr) to approximately 180mm m3 (c. 6.5mm MMBtu/yr) today. The company reportedly has expanded across France, the Netherlands and North America and employs more than 400 people worldwide, a five-fold increase over the period.
The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in the first quarter of 2023.
Read the press release at: www.nature-energy.com