CARLSBAD, Calif. & BURLINGTON, Ontario--(BUSINESS WIRE)--
Anaergia Inc. (“Anaergia”, the “Company”, “us”, or “our”) (TSX: ANRG) (OTCQX:ANRGF), through its subsidiary, Anaergia Technologies, LLC, has entered into agreements to upgrade the Renewable Energy Anaerobic Digester (“READ”) located at The University of California, Davis (“UC Davis”).
The READ facility processes food and grease trap waste daily from local grocery stores and campus dining facilities, converting waste that would otherwise end up in a landfill into renewable energy. This operation supports California's SB 1383 goals by cutting greenhouse gas emissions and boosting the economic viability of anaerobic digestion.
Under the terms of the signed and provisional agreements, Anaergia will enhance the READ’s systems with Anaergia technology to upgrade the plant ensuring reliable and efficient food waste recycling with power generation. Anaergia anticipates recognizing more than C$7 million in revenue from this project.
The California Department of Resources Recycling and Recovery (“CalRecycle”) is providing a grant to aid in financing the upgrade of the READ.
“With these enhancements, READ will fully capitalize on its environmental benefits,” said Joe Yonkoski, Superintendent of Thermal Infrastructure for UC Davis Facilities Management. “We appreciate the partnership with Anaergia that is helping us transform the READ facility as a component of UC Davis’ strategy to reduce fossil fuel reliance and combat climate change,” Mr. Yonkoski added.
“This project at UC Davis showcases how Anaergia’s industry-leading technologies and capabilities are being employed at state-of-the-art facilities,” commented Assaf Onn, CEO of Anaergia. “We have a track record of partnering with institutions of higher learning and are proud to support UC Davis achieve its carbon neutrality goals,” added Mr. Onn.
About The University of California, Davis
The University of California, Davis, with over 40,000 students (source: ), was ranked as the number three public university in the nation in terms of the value of the college degree (source: ). Since its founding in 1908, UC Davis has developed a reputation as a highly ranked university in the United States and internationally.
About Anaergia
Anaergia is a pioneering technology company in the renewable natural gas (RNG) sector, with over 250 patents dedicated to converting organic waste into sustainable solutions such as RNG, fertilizer, and water. We are committed to addressing a significant source of greenhouse gases (GHGs) through cost-effective processes. Our proprietary technologies, combined with our engineering expertise and vast experience in facility design, construction, and operation, position Anaergia as a leader in the RNG industry. With a proven track record of delivering hundreds of innovative projects over the past decade, we are well-equipped to tackle today’s critical resource recovery challenges through diverse project delivery methods. As one of the few companies worldwide offering an integrated portfolio of end-to-end solutions, we effectively combine solid waste processing, wastewater treatment, organics recovery, high-efficiency anaerobic digestion, and biomethane production. Additionally, we operate RNG facilities owned by both third parties and Anaergia. This comprehensive approach not only reduces environmental impact but also significantly lowers costs associated with waste and wastewater treatment while mitigating GHG emissions.
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Forward-Looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects Anaergia’s current expectations regarding future events including, but not limited to, the value of the technology supply contract and the development, funding, goals and benefits of the project. Forward-looking information is based on a number of assumptions, including, but not limited to, counterparty contractual performance, the full development and funding of the project, the capability of the Company’s technology and performance with respect to the project objectives, the enforcement of organic waste recycling laws such as SB1383, and the actual diversion of food waste from regional landfills. The Company is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Company’s annual information form for the fiscal year ended December 31, 2023, and under “Risks and Uncertainties” in the Company’s most recent management’s discussion and analysis. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws. Additional information on these and other factors that could affect Anaergia’s operations or financial results are included in Anaergia’s reports on file with Canadian regulatory authorities.
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