View of one of the two Wagabox® units in operation in the United States, in Steuben, New York State. The second one is in Davenport, Iowa

Waga Energy Inc has signed a US$180M 4-year senior debt facility[1] to boost its landfill gas (LFG) to renewable natural gas (RNG) platform in the United States, with Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) and HSBC Asset Management as lenders and lender agents.

This financing, illustrating Waga Energy’s financial partners confidence in its state-of-the-art technology, will strengthen the group’s ability to successfully develop its strong US pipeline of projects, enabling it to boost its expansion of LFG to RNG assets on a large scale[2].

As of today, Waga Energy has signed 13 gas rights with landfill operators in the US (of which 2 Wagabox® in operation and 11 projects under construction), totaling a 5 million MMBtu p.a. (1.4 TWh p.a.) capacity which will help generate renewable gas at an affordable price, with a major impact in terms of avoided methane emissions.

Guénaël Prince, Co-founder of Waga Energy and CEO of Waga Energy Inc.: 
“We believe that Waga Energy’s technology is uniquely positioned to tackle methane emissions from landfills and create long-term value for our partners in the United States. We are grateful to Crédit Agricole CIB and HSBC Asset Management for supporting Waga Energy’s acceleration and demonstrating our ability to build a remarkable project portfolio.”

Jean-Michel Thibaud, Group CFO and Deputy General Manager of Waga Energy :
“We are extremely pleased by this landmark debt transaction with Crédit Agricole CIB and HSBC Asset Management as strategic financing partners, which we warmly thank for this major step in the group’s development.”

[1] Under the form of a “warehouse facility” to finance construction and the beginning of operations.
[2] For the avoidance of doubt, this financing is totally unrelated to the Investment Tax Credits (ITC) that Waga Energy is eligible to in the US.