BURLINGTON, Ontario, January 25, 2022--(BUSINESS WIRE)--Anaergia Inc. (Anaergia) (TSX: ANRG) is pleased to announce it has signed a follow-up contract with Carbon Cycle North Carolina LLC (C2NC). Under the terms of this new agreement, the scope of Anaergia’s activities will be significantly expanded at C2NC’s facility that converts agricultural waste to renewable energy. The facility is located in Warsaw, North Carolina.
This is Anaergia’s second major capital equipment sale to C2NC. In addition to providing additional equipment, the contract terms call for Anaergia to manage construction at the C2NC facility, and then operate the entire facility for a period of 10 years. The deal boosts Anaergia’s backlog by more than $50 million.
When this first phase is completed, this facility will feature a total of three anaerobic digesters converting food-industry and agricultural byproducts into utility-scale renewable natural gas (RNG).
"This project will provide substantial environmental benefits to the region," said Thomas Mulholland, Co-Founder and Co-CEO of Carbon Cycle Energy. "We are very pleased to be working with Anaergia to unlock the hidden energy in food-supply byproducts and to convert that underutilized resource into renewable energy."
"It is particularly gratifying for Anaergia to receive this significant new contract for the expansion at C2NC," said Andrew Benedek, Chairman and CEO of Anaergia. "This repeat sale, coupled with the long-term operating contract, underscores how our industry-leading capabilities are recognized by significant RNG project developers."
Anaergia was created to eliminate a major source of greenhouse gases 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.
For further information on Anaergia please see: www.anaergia.com
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