Benelux-focused private equity firm Waterland has backed Netherlands-based second generation biofuel company BioMCN with €36m of equity.
The deal is Waterland’s second of 2009, following its investment in another sustainable energy project, renewable energy project developer Enfinity Management. It provided Enfinity with €50m of equity earlier this week.
“This is Waterland’s third major all-equity investment in the past six months. We are excited by this second generation biofuel project, which fits perfectly with our sustainability investment theme,” explained Lez Douze, principal at Waterland.
BioMCN was founded in 2006. Originally, it was a methanol production unit running on natural gas. However, it is now a so-called second generation bio-methanol plant running on bio-gas made from crude glycerine. As well as lowering carbon emissions, crude glycerine does not compete with food production.
Source: Thomson Merger News