Waga Energy lands $60M from Eiffel Investment Group for US-based RNG

In France, Waga Energy Inc., the US subsidiary of the Waga Energy Group, has secured $60 million financing with asset manager Eiffel Investment Group to finance the construction of four renewable natural gas (RNG) production units in the United States. This is the first financing Waga Energy has secured in the United States.

This operation will finance the first four projects of Waga Energy in the United States, including the WAGABOX® unit – in its final construction phase – in Steuben County, Bath (New York State). Once up and running, these four units will be able to produce a combined 1,980,000 MMBtu (495 GWh) of RNG per year, avoiding over 120,000 tons of eqCO2 annually, equivalent to cuting emissions from 140 million gallons of gasoline based on the United States Environmental Protection Agency (EPA) calculation methodology.

This is the second time Waga Energy and Eiffel Investment Group have partnered up. In 2020, the Eiffel Gaz Vert (Eiffel Green Gas) fund granted Waga Energy bond financing of €20 million to fund the construction of four WAGABOX® units in France. This financing was fully repaid in 2022.