Finnish state-owned energy company Gasum is expanding its biogas portfolio by acquiring two thirds of the shares in Swedish company Liquidgas Biofuel Genesis AB, said the company in a press release on Friday.
Liquidgas Biofuel Genesis owns and operates a biogas upgrading plant in the city of Helsinborg in southern Sweden.
The plant’s other owner with one third of the shares is Nordvästra Skånes Renhållningsbolag AB (NSR), the regional waste management company.
NSR has leased a biogas plant to Biond AB who produces raw biogas from the biodegradable waste it collects from households and industries in the area and then the raw biogas is sold to Liquidgas Biofuel Genesis for upgrading.
The plant’s annual output is currently about 80 gigawatt hours (GWh) worth of upgraded biogas. The plant is connected to a low-pressure grid and all upgraded biogas is currently distributed through the grid to local filling stations.
“This acquisition is another important step on the path to implementing our strategy of bringing more renewable gas to the Nordic market,” said Mika Wiljanen, Chief Executive Officer of Gasum.
“We look forward to working with Gasum, an experienced and strong player in the biogas industry”, said Ulf Molén, CEO of NSR AB, co-owner of Liquidgas Biofuel Genesis AB.
The acquisition is part of Gasum’s strategic goal to bring seven terawatt hours (7 TWh) of renewable gas to market yearly by 2027.
Gasum aims to achieve this by increasing its own biogas production as well as sourcing from trusted partners. Gasum is currently constructing the first of five large new biogas plants in Götene, Sweden.
- majority shares
- Swedish Liquidgas