Anaergia Inc. Partners to Advance Renewable Natural Gas Project in Riverside, California
Anaergia Inc. has announced that its subsidiary, Riverside Bioenergy Facility LLC, will transfer its renewable natural gas project to a developer backed by institutional investors. This initiative aims to build organic waste-to-renewable natural gas infrastructure at the Riverside Water Quality Control Plant, pending final approvals. Anaergia will provide engineering, procurement, and construction services, expecting revenues of approximately CAD 39 million from the project, which is aligned with Riverside's sustainability goals and California's organic waste recycling regulations.
Theia Market Signal Identification - AI AssistedAnaergia Inc. has taken a significant step in advancing renewable energy initiatives with its recent agreement to transfer its Riverside Bioenergy Facility LLC to a developer supported by institutional investors. This project, located in Riverside, California, centers on the construction of organic waste-to-renewable natural gas (RNG) infrastructure at the Riverside Water Quality Control Plant. The undertaking is subject to necessary approvals and amendments to the lease with the city.
Upon financial closure, Anaergia Technologies LLC will spearhead engineering, procurement, and construction (EPC) services, which encompass the installation of advanced biogas conditioning systems and organic waste processing equipment. The timeline for these activities stretches into 2026 and 2027, with Anaergia forecasting revenues around CAD 39 million from this venture. Furthermore, Anaergia Services LLC is set to provide long-term operations and maintenance services post-construction, ensuring the continued efficacy of the project.
This collaboration exemplifies Anaergia's capital-light strategy, wherein the company partners with investors to mitigate financial risks while optimizing its technological and operational expertise. Assaf Onn, CEO of Anaergia, emphasized that this project is vital for Riverside's sustainability goals, particularly in reducing the carbon footprint of local water treatment operations and adhering to California's SB 1383 regulations for organic waste recycling. The successful execution of this project not only advances the city’s environmental objectives but also showcases Anaergia's commitment to delivering impactful climate solutions.
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