Waste-to-energy solutions firm Andion Global has secured an initial $20 million multi-partner financing deal from Spring Lane Capital, Equitix Infrastructure Investments and Business Development Bank of Canada.
This is Tranche 1 Financing from the firms. A concurrent $250 million project development equity facility also will be made available for Andion’s project pipeline in North America and Europe.
The firm has completed over 50 anaerobic digestion facilities and more than 130 complex wastewater treatment plants in North America and Europe. The new funding will enable Andion to expand operations and acquire equity stakes in these facilities.
Andion’s technology makes organic waste handling and conversion to biogas efficient, sustainable and economically viable. Andion’s facilities can process hundreds of thousands of tons of organic waste, reducing greenhouse gases from transportation, landfills and burning of waste. This process creates renewable energy (biogas), a sustainable source of fuel for communities around the world.
Equitix CEO Hugh Crossley said, “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.”
Desjardins Capital Markets was the financial advisor to Andion.
