Heygaz Biomethane signs agreement to acquire Ormonde Organics

Heygaz Biomethane, the European platform created by Infravia Capital Partners, has signed an agreement to acquire Irish biogas and biomethane producer Ormonde Organics.
With this acquisition, Heygaz strengthens its strategy to consolidate a European portfolio of biomethane production plants in markets with high growth potential, according to the organisation.
Following this acquisition, the Ormonde Organics management team will join Heygaz's executive team and will continue to lead the company, retaining an equity stake.
Completion of the transaction is subject to final approval by the Irish competent authorities.
Ormonde Organics has two operational anaerobic digestion plants; one in Portlaw, County Waterford, and one in Youghal, County Cork, in the South of Ireland, with a total production capacity of 60 GWh per annum.
In addition, it has recently obtained permission to build a third plant, which is expected to be operational by the end of 2025.
Currently, most of the biogas produced by these plants is used to generate renewable electricity, while a small portion of the biogas produced is transformed into biomethane and sold as bio-CNG (compressed natural gas).
Ormonde Organics is developing, together with GNI (Gas Network Ireland), a facility to inject biomethane directly into Ireland's national gas grid from its plant in Portlaw, which will allow biomethane to be marketed within the integrated EU gas market.
As a result, it plans to increase biomethane production and promote its use in the industrial and transport sector, promoting its decarbonisation and contributing to security of supply.
With the addition of Ormonde Organics, Heygaz said it enters the Irish market in a leading position and will leverage the team's proven expertise across the entire value chain of this renewable gas to further enhance the development of new projects in the country.
Heygaz aims to build and consolidate a European portfolio of biomethane production plants in markets with high growth potential, through the development of new projects or the entry into production assets.
Fernando Sarasola, president of Heygaz, said: "Ormonde Organics has built state-of-the-art assets that operate at the highest industry standards. The management team has created a strategic position in a very promising market.
"We are excited to be able to integrate this company into our platform and start a new phase with them. Together with our new partners Martin Morrissey and Michael Murphy, we are ready to take advantage of the growth opportunities in the Irish biomethane sector. We are delighted that they will both remain as shareholders in the business."
Nicolas Ritter, investment director at InfraVia, added: "Since its inception less than a year ago, Heygaz has entered five new countries with high growth potential. We plan to continue to grow in this area and add more strategic countries.
"We at InfraVia are very proud to support this platform in its goal to create a large-scale European biomethane producer, ranging from feedstock management to the development and commercialization of this renewable gas."
Martin Morrissey, CEO of Ormonde Organics, stated: "We believe that joining Heygaz will enable Ormonde Organics to reach its full potential, allowing the company to play a positive role in the development of the green economy in Ireland."