Patrizia’s infrastructure arm has invested €75 million in Biomet, an Italian bio-liquified natural gas (LNG) generator, on behalf of its second European fund.
Patrizia Infrastructure has bought an 80 percent investment in Biomet from Italian gas entrepreneur Walter Lagorio and Ankorgaz, the vehicle of Biomet CEO and founder Antonio Barani, which remains a 20% shareholder, through its European Infrastructure Fund II fund.
Biomet is a vertically integrated bio-LNG generator that will be Europe’s largest facility producing bio-LNG from bio-waste biomethane. It is now working on two new facilities 40 kilometres south of Milan.
According to Barani, Italy has a liquefaction plant shortage, but demand for LNG and bio-LNG is growing as the country’s decarbonisation efforts continue.
“This is reflected in the legal and policy environment, which is increasingly supportive of expanding biogas and sustainable fuel sources.”
“Biomet has the potential to lead the way in this area, since it is both advantageously positioned and vertically integrated along the full value chain – from biomethane generation from waste to upgrading, liquefaction/bio-LNG production, and sales at a nearby filling station,” Barani added.
Biomet has a key role to play in Italy’s energy transformation as well as in assisting local agricultural communities, according to Matteo Andreoletti, Patrizia’s head of infrastructure equity in Europe and North America.
“Our investment in Biomet not only represents outstanding ESG credentials and future growth potential for our customers, but it also extends our long tradition of effectively engaging with regional infrastructure champions to have a great impact in our communities.”
Patrizia’s freshly acquired infrastructure business makes its first investment with this deal. According to the manager, this is Patrizia Infrastructure’s second investment in Italy on behalf of its investors and funds.
Construction, Infrastructure and Mining Group Media Publication
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