ANDION Global Inc.The $250 million project development equity facility will be allocated concurrently by Spring Lane Capital and Equitix, and used to finance the development, construction and acquisition of projects in Andion’s North American and European markets.
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“We are very excited to have closed the first tranche of this financing with a distinguished group of strategic investors which will allow us to rapidly propel the development, deployment and operation of our own waste-to-energy facilities,” said Phillip Abrary, CEO of Andion. “The proven proprietary technologies used in Andion’s anaerobic digestion plants have the additional benefit of countering climate change by transforming waste into a renewable fuel.”
“Renewable natural gas (RNG) solutions are increasingly playing a key role in helping corporations and municipalities meet their carbon targets. We are excited to partner with Andion as this long-term secular trend presents a tremendous opportunity for institutional investors in the global sustainable finance markets,” said Nathaniel Lowbeer-Lewis, Vice President, Canada for Spring Lane Capital. “We have witnessed first-hand more and more interest from investors in waste diversion solutions and we are very impressed with Andion’s pedigree in the RNG space. With over 20 years of experience, their team brings deep technical competency that is unmatched in the sector, and we expect our collaboration to serve as a platform to foster additional organics and RNG investment opportunities.”
“We are very pleased to partner with Andion as an investor, as well as entering into a framework agreement to invest in future projects developed by the Andion Group in Europe,” said Hugh Crossley, CEO of Equitix. “This investment is fully in line with Equitix’s core strategy of making long-term investments into infrastructure with positive environmental characteristics. Our goal is to support Andion’s continuing development and focus on strengthening the company’s position as a responsible supplier of renewable energy to the market.”
“As the bank for Canadian entrepreneurs, we are pleased to support Andion’s innovative solutions and projects to divert waste from landfills to create value, which is an important part of our energy transition needs and will help Canada reach its climate targets,” said Vivian Kan, Director of BDC Capital’s Cleantech Practice., a global leader in delivering proven and comprehensive waste-to-energy solutions, announced the company has secured a $20 Million multi-partner financing from three investment partners: a private fund managed by Spring Lane Capital, a private equity firm focused on providing catalytic project capital for sustainability solutions in the energy, food, water, waste and transportation industries; Equitix Infrastructure Investments Limited (“Equitix”); and Business Development Bank of Canada (“BDC”). This new capital will be used initially to expand Andion’s operations and to acquire equity stakes in existing projects, and to accelerate the development of Andion’s projects located in North America, Italy and the Nordics.