Feb. 17 at 6:12 PM
$ANRGF Anaergia announced a
$13M contract awarded with Circular Renewable Evolution in Europe with the project expected to be completed by May 2027. The initiative is part of an overall
$50M project at the Gela biorefinery.
The projects is a first-of-its-kind system positioned to meet surging global demand for cost-effective renewable fuels such as hydrotreated vegetable oil (HVO).
With more than 250 HVO plants worldwide and the market projected to expand by over 35% by 2030. This would imply market opportunity of ~
$4B by 2030 (
$13M avg), with potential of closer to
$10B (
$30M avg) assuming full project level economics are captured.
OUR TAKE
Anaergia has announced a strategic technology supply contract with Circular Renewable Evolution (CREvolution) for Eni’s (NYSE: E, NR) Gela biorefinery in Italy. While the initial
$13M equipment order is a modest fraction of the
$287M backlog, the implications for replicability and IP validation are profound. By integrating its proprietary anaerobic digestion (AD) technology into the Hydrotreated Vegetable Oil (HVO) and Sustainable Aviation Fuel (SAF) production chain, Anaergia is positioning itself as an essential pick-and-shovel provider for the global energy transition.
KEY HIGHLIGHTS
From Waste Management to Industrial Tech Provider. The Gela project is a structural shift in Anaergia's market positioning. Historically perceived as a municipal organic waste company, this partnership validates ANRG’s ability to solve complex industrial bottlenecks for Oil & Gas Supermajors.
Solving the Degumming Bottoleneck. HVO and SAF production generates significant waste, specifically degumming soil. Traditionally, this is a high-cost disposal item. Anaergia’s high-viscosity AD technology converts this waste into 70,000 MWh of RNG annually. The result is a double-win for the refinery – lower waste-disposal opex and a self-sustaining source of renewable energy to power the facility.
The Replicability Multiplier. The Gela site is designated as a global demonstration facility. With over 250 HVO plants currently operating or in development worldwide, the blueprinted nature of this solution creates a significant high-margin revenue runway.
Impact on Carbon Intensity (CI) Scores. In the high-stakes world of SAF and Biodiesel, the Carbon Intensity (CI) score determines the premium at which fuel can be sold in regulated markets (like the EU and North America). By recovering 80% of waste residues on-site, Anaergia significantly lowers the CI score of Eni’s output, creating direct economic value for the client far beyond the initial equipment cost.
Capital-Light Business Model Enhancing Returns: Anaergia has shifted new BOO projects to a capital-light structure funded primarily by financial partners. The Company focuses on development fees, technology sales, and long-term O&M revenue rather than balance sheet ownership. This strategy reduces capital requirements, improves cash flow, and supports broader project participation.
