The boards of German firm agri.capital and UK business BioWatt have signed a mutual cooperation framework agreement to enable them to develop anaerobic digestion and biogas opportunities.
It will provide agri.capital with an immediate presence in the UK as well as a stream of investment opportunities. In turn with the support of the access to funding of agri.capital, BioWatt will be able to make a significant contribution to the development of new projects.
The core business of BioWatt is the sourcing, creation, development, operation and management of profitable low-risk biogas projects. While agri.capital intends to secure a 50MW capacity in the UK through majority ownership of such projects.
In addition, BioWatt will offer long-term facilities management of its own and third party projects where required.
BioWatt chairman Michael Roberts said: “BioWatt is extremely pleased to be entrusted with the crucial mission to spearhead agri.capital’s entry into the UK market. agri.capital has the experience and expertise to become a dominant force in this sector in a similar way to its successes in mainland Europe.
“BioWatt had the skills and knowledge to fulfil the key complementary role through its own resources, networks and knowledge of the key investment factors relevant to the UK biogas market.
“A number of projects are currently in the process of final evaluation by agri.capital and BioWatt is actively seeking new opportunities where it can add further value.”