Biomet Majority Stake Acquisition
22nd June 2022
DWPF provided model audit advice to Patrizia on the successful acquisition of an 80% majority stake in Italian bio-Liquified Natural Gas (“LNG”) producer Biomet through its European Infrastructure Fund II. The c. EUR 75 million deal comprises the equity stake and a committed capex programme.
Biomet is a vertically integrated bio-LNG producer that will be Europe’s largest plant producing bio-LNG from biomethane coming from bio-waste. It is currently developing two new, modern facilities that include a biomethane plant and an LNG liquefaction plant, which are both strategically located c. 40km south of Milan.
Biomet will be the first plant in Italy that is directly connected to the SNAM national gas transportation network, with an on-site filling station. The facility will also be linked to key highways to intercept the waste flows from central to northern Italy, as well as feature four plants that produce biomethane by upgrading third-party biogas from agricultural feedstock.
Biomet’s second-generation biogas and upgrading plant for biomethane production currently has capacity for 40,000 tons of organic waste each year, with the potential to increase this to 60,000 tons. The liquefaction facility has capacity for 8,800 tons of bio-LNG per year, with the potential to increase production to 26,400 tons.