• Ludgate Environmental Fund increases its investment in Europe?s largest biogas company to EUR5 million

Air Clean Up

Ludgate Environmental Fund increases its investment in Europe?s largest biogas company to EUR5 million

Jun 01 2009

Ludgate Environmental Fund Limited, (“LEF” or the “Fund”), the AIM-listed investment company focused on the environmental/cleantech sector has announced a further investment of EUR2 million into agri.capital (the “Company”). This additional amount, structured as 10% preferred stock with detachable warrants, brings LEF’s total investment in the Company to date to EUR5 million.

Established in 2004, agri.capital develops, owns and operates biogas to power and biomethane to pipeline operations in Germany and Austria. With a portfolio of 32.2 MW of installed capacity, agri.capital is currently the largest biogas producer in Europe.   LEF’s additional investment is part of a total EUR60 million fund raising of new equity into agri.capital, with the round being led by TCW Group Inc. The Company will use the new funds to further organic growth, expand its presence in Europe and explore acquisition opportunities. With 44 sites currently under management, agri.capital intends to have approximately 100 additional sites in operation by 2011 increasing installed capacity up to 115 MW.   Peter Stepany, Co-CEO of agri.capital said: “This funding represents a significant milestone for agri.capital. Our goal is to continue as the market-leader in biogas generation in Europe, and we are pleased to have the backing of Ludgate Environmental Fund and other investors in this funding round.”

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