Anaergia Inc (ANRGF)

$ANRGF Fantastic news from Anaergia as they unlock a major value driver of opportunity in California/USA. I’ll paint the bigger picture on what just unfolded here. Anaergia has sold their site control of Riverside BioEnergy to a major institutional infrastructure partner that has aspirations of a much larger buildout (call this plant 1 with this customer). The Anaergia design would include anerobic digester for co-digestion, food waste receiving, liquids receiving expansion, biogas conditioning and upgrading as well as pipeline interconnection. The original plan when staking site control was for Anaergia to self fund these build outs but its very capital intensive. Securing a partnership with a global infrastructure investor with deep access to capital is the smartest path for Anaergia to fast track development of this pipeline. To get a sense of how big this pipeline could be I’ve included a valuable slide from one of Anaergia’s investor presentations. Speaking with management, they framed the upside potential as following: Target potential for Anaergia (over the long term) is 50-100 of similar builds (ranging from $30MLN-$50MLN). Nationally there are approx. 1,300 sites with AD that would qualify for a design build similar to what Riverside BioEnergy offered. A reasonable market share of 10-15% would give you this 50-100 facility build out ( Anaergia is the market leader in California for WWTP energy recovery solutions).

$ANRGF And another one. This time a significant win in California. A major opportunity for these guys. Dip buyers will be rewarded here. https://www.businesswire.com/news/home/20250908619215/en/Anaergia-Announces-Agreement-to-Provide-EPC-and-OM-Services-for-Project-in-Riverside-California

Getting more active in managing the HT-ETF as we target a strong close to the year. September is off to a stellar start which bucks the trend from prior years that sees this as a relatively soft month overall. I've been adding some more turnaround plays, commodities and income generators to the portfolio. At about 80% cash with the tech meltup getting too hot for my taste. Some of these have moved slots purely on the basis of the overall portfolio going up and my not adding to them. Stand out performers continue to be the alternatives in the portfolio - Anrgf, Toyo, Arq and the more rate sensitive ones that are catching a bid as optimism for rate cuts improves (agnc) Super heavyweight positions (10% + of invested assets): $ANRGF $ARQ Heavyweight (6-9%): $TOYO AGNC CCLDO (preferred) TPVG (new position) Middleweight (4-5%): HIPO ARREF $BHF Flyweight (1-3%) $ITRM FOA XYF UNH USAS XLO Exited completely: GOOGL NVDA CCLD (commons)

$ANRGF Closed at the high of the day like an absolute boss again. Volume remains strong. Stay the course.

$ANRGF Continues to do what I thought and said it would and then some. Clearly the conference went well and I would expect the newsflow to continue. Hope those that bought this and held are thriving.

$TOYO $ANRGF New 52 wk highs for both of these beauties today. The death of renewables was chronically overstated.

$ANRGF Damn its running up already and I only bought 1000 shares last week (was hoping for a dip)

$ANRGF The train will likely arrive ahead of schedule here.

$ANRGF Read Thru – Another expansion contract from a major play energy player expanding their biomethane developments. I’ve done a write on Bioenerys in the past but here is a short recap. I have attached a key slide from Bioenerys website ( 31 current agri plants (many are potential upgrade opportunities) and “50 new plants under construction”. Anaergia has potential to capture additional business on both fronts with this customer ( upgrade and newbuilds). I’ll continue to re-iterate the investment thesis on Anaergia – large scale customer wins with tier 1 clients ( no counter party risk ) with expansion opportunities that will provide confidence in sustained long term revenue growth. Bioenerys is a company leader in the production of biomethane that is 100% controlled by Snam Group ( €17 billion mkt cap – Snam SpA on Borsa Italian exchange ). Snam S.p.A. is a leading European energy infrastructure company, primarily engaged in natural gas transportation, storage, and regasification, with growing investments in bioenergy (biomethane) and other renewable energy solutions. Its financial performance in 2025 reflects strong growth, driven by its core gas infrastructure business and strategic investments in the energy transition, including biomethane. Full Year 2024 (Context for 2025): • Adjusted EBITDA: €2.75 billion, up 14% from 2023, reflecting strong gas infrastructure earnings and contributions from energy transition activities like biomethane. 2025–2029 Strategic Plan: • Capital Expenditure (Capex): €12.5 billion, up from €11.5 billion in the 2023–2027 plan, with significant allocations for bioenergy (biomethane) and hydrogen infrastructure to support decarbonization.

$ANRGF Another deal this morning... It's becoming clear to the market what I've said for a long time... They are on the field with some of the major names investing in the space and they have the preeminent technology to execute. https://www.businesswire.com/news/home/20250902830622/en/Anaergia-S.r.l.-to-Expand-and-Upgrade-Anaerobic-Digestion-Facility-in-Ariano-nel-Polesine-Italy-for-Bioenerys