MÜNSTER, Germany - (Business Wire) agri.capital, a leading pure-play renewable energy company that develops, owns and operates biogas plants in Europe, has raised €60 million in new equity. TCW Group, Inc (“TCW”), through its European Clean Energy Fund, led the round and was joined by returning investors Altima Partners, Green Partners, Halcyon and Ludgate Environmental Fund. Concurrently the company entered into a €10 million mezzanine debt facility with Ecofin. The company will use the new funds for organic growth, to expand its presence in Europe and to explore acquisition opportunities. agri.capital is currently the largest biogas producer in Europe with a portfolio of 32.2 MW of installed capacity.
“This funding represents a significant milestone for agri.capital” said Peter Stepany, Co-CEO of agri.capital. “Our goal is to continue as the market-leader in biogas generation in Europe, and we are pleased to have the backing of a blue chip investor like TCW.”
“We are pleased to add another investment in the German renewable energy sector and to support a company like agri.capital which has been a leader and an innovator in the biogas market,” said Jean-Daniel Borgeaud, Managing Director with TCW’s Energy and Infrastructure Group.
The Structured Private Placement Group at Deutsche Bank Securities Inc. managed the private placement for agri.capital.
About agri.capital
agri.capital (www.agri-capital.de ) is Europe’s largest biogas company and a leader in renewable energy generation. The company develops, owns and operates biogas to power and biomethane to pipeline operations in Germany and Austria.
About TCW
The European Clean Energy Fund is one of the largest clean energy funds in Europe, closed in 2007 with €354 million from institutional investors in Europe, Canada and the United States. The fund provides capital for a host of environmentally friendly energy initiatives, including wind, solar, hydro-electric, geothermal and waste-to energy projects, by providing mezzanine and private equity capital. It also seeks out projects that generate carbon credits and/or tradable renewable certificates. The fund’s investment manager is TCW acting through its Energy and Infrastructure Group. Founded in 1971, TCW develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients’ wealth. The firm has approximately $100 billion in assets under management. TCW clients include many large corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as a substantial number of foreign investors and high net worth individuals. TCW’s Energy and Infrastructure Group was established in 1982 and has approximately $6 billion of assets under management. The Group has a global focus on energy and energy-related infrastructure and it invests across the capital structure, from senior debt through equity.
About Altima Partners
Altima Partners LLP is a $2.9 billion hedge fund manager whose flagship fund is an equity special situations fund with a long bias investing in value stocks on a global basis. With about 50 staff and offices in London and New York, Altima generates returns for investors by taking positions in cash-generative and undervalued companies and then actively works with management to unlock that value. Prior to the firm’s foundation in July 2004, the core of its investment team formed the Equity Special Situations Group within Deutsche Bank AG with a track record of managing third party money since January 2002.
About Ecofin
Ecofin is an investment manager founded in 1992 that specializes in investing in the utilities and infrastructure sectors globally. The firm employs 53 people and has offices in London, New York, Hong Kong and Geneva. Ecofin has been one of the leading investors in renewable energy globally over the last four years with over $2 billion invested in both public and private opportunities.
About Green Partners
Green Partners is a closely held private investment firm based in New York. Green Partners invests globally in the areas of renewable energy, energy efficiency and climate change.
About Halcyon
Founded in 1981, Halcyon Asset Management LLC (“Halcyon”) and its affiliates constitute a global alternative asset management firm with over $7 billion in assets under management. Halcyon is privately held and controlled by 12 partners who average 12 years of experience with the firm. Together, Halcyon and its affiliates employ more than 45 investment professionals, approximately 100 total staff, and have offices in New York and London.
About Ludgate Environmental Fund Limited
Ludgate Environmental Fund Limited (“LEF”) is a Jersey domiciled closed-ended investment company providing expansion capital to environmental/cleantech companies. Launched on AIM in 2007, LEF has raised total assets of £50 million. The sector focus of LEF spans the environmental/cleantech space including alternative energy; waste management and resource recovery; energy efficiency; water management; industrial process advances and emission reduction technologies.
About Deutsche Bank Securities Inc.
Deutsche Bank Securities Inc., a member of NYSE, FINRA and SIPC, is the investment banking and securities arm of Deutsche Bank AG in the United States.
Sard Verbinnen
Robin Weinberg, 212-687-8080
