ODENSE,
Denmark, Nov. 28, 2022 /PRNewswire/ -- Nature
Energy Biogas A/S ("Nature Energy" or the "Company"), a leader
in biomethane and renewable energy production from organic waste,
today announced that it has entered into a definitive agreement
under which Shell Petroleum NV, a wholly owned subsidiary of Shell
plc (Shell) will acquire 100% of the Company for a
total enterprise value of nearly USD $2
billion (€1.9 billion).
Nature Energy owns and operates 14 industrial scale biomethane
plants and an international development pipeline of about 30 plants
across Europe and North America. The Company applies a
design-build-own-operate model to all its projects. Nature Energy's
leading position in biomethane production from organic waste is
underpinned by three key market drivers: the reduction of
greenhouse gas emissions; providing local, secure and affordable
energy; and solving for the increasing amount of organic waste in a
circular manner.
For Shell, the acquisition further increases the company's
ability to work with its established customer base across multiple
sectors to accelerate its transition to net-zero emissions. It will
also support Shell's ambition to profitably grow its low carbon
fuels production and customer offering in its world-leading
customer-facing Marketing business.
Nature Energy is currently owned by a consortium of
institutional investors, including Davidson Kempner Capital
Management LP, Pioneer Point Partners and Sampension (collectively,
the "NGF Partnership"), with deep experience developing and
building European market leaders in the energy transition and
environmental sectors.
Over the last five years, Nature Energy has experienced a phase
of intensive organic and inorganic growth through strategic
investments, with the number of plants in operation increasing from
4 to 14 and its biomethane production growing from
37mm m3 (c. 1.3mm MMBtu/yr) to approximately
180mm m3 (c. 6.5mm MMBtu/yr) today. Nature
Energy has developed a series of technology-led initiatives to
increase the biomethane yield and monetize other output streams.
The Company has expanded internationally across France, the
Netherlands, and North
America, and employs more than 400 people worldwide, a
five-fold increase over the period.
Jesper Lok, Chairman of the Board
of Nature Energy commented:
"Under the stewardship of the NGF Partnership, Nature
Energy has grown into a leading producer of biomethane from organic
waste and has pioneered a standardized large-scale commercial
production process in Denmark that
creates higher on-farm crop yields. Under the new
ownership of Shell, our team will continue to advance its unique
vision of unlocking additional valuable resources from waste
materials while offering secure and affordable energy to
customers and promoting a circular economy."
Ole Hvelplund, CEO of Nature Energy, commented:
"This transaction would not be possible without the entire
Nature Energy organization, our talented and dedicated employees,
our industry partners, as well as our investors — who always
believed in our mission and have made invaluable
contributions to Nature Energy's growth and success. We look
forward to the next phase of growth, and we remain excited about
our near-term prospects to help address both the current energy
insecurity, as well as the longer-term potential for biomethane
capacity set out in the REPowerEU plan."
Huibert Vigeveno, Shell's
Downstream Director, commented:
"Shell's competitiveness in low carbon fuels derives from
capabilities across the value chain, combining a world-class
Trading and Supply organisation with access to differentiated
technology and production assets. Acquiring Nature Energy will add
a European production platform and growth pipeline to Shell's
existing RNG projects in the United
States. We will use this acquisition to build an integrated
RNG value chain at global scale, at a time when energy transition
policies and customer preferences are signalling strong growth in
demand in the years ahead."
The transaction is subject to regulatory approvals and customary
closing conditions and is expected to close in the first quarter of
2023.
J.P. Morgan Securities plc acted as sole financial advisor to
the NGF Partnership on the sale of Nature Energy.
About Nature Energy
Nature Energy is a leader in biomethane production from organic
waste in Europe. Founded in 1979
and headquartered in Denmark,
Nature Energy has been a pioneer in the green transition designing,
building, owning and operating industrial scale biomethane plants
globally. Nature Energy currently owns and operates 14 industrial
size plants producing approximately 180mm m3 (c.
6.5mm MMBtu/yr) of biomethane, has 1 additional plant under
construction in France, and has a
robust pipeline of about 30 projects in development in five
countries. Since 2018, the Company has been owned by a consortium
consisting of Davidson Kempner Capital Management LP, Pioneer Point
Partners and Sampension. For more information, visit Nature
Energy (nature-energy.com).
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SOURCE Nature Energy