Highlights
- ReNu Energy and Germany technology and engineering company AGO Bioenergy GmbH (AGO) to join forces under a Cooperation Agreement to unlock further waste-to-energy opportunities across the Australian and New Zealand markets.
- ReNu Energy to be exclusive distributor of AGO Bioenergy technology, equipment and services in Australia, New Zealand and the Asia-Pacific Region.
- Strategically strengthens ReNu Energy’s position as an end-to-end provider of waste to energy engineering, services, technology and combined heat and power (CHP) equipment solutions.
- ReNu Energy and AGO Bioenergy to focus on the deployment of anaerobic digestion equipment, containerized CHP, absorption chillers and de-packaging machinery under both Build Own Operate & Maintain (BOOM) and turn key solution models.
ReNu Energy Limited (ASX: RNE) and AGO Bioenergy GmbH (AGO) are pleased to announce the execution of a Cooperation Agreement that will see the two companies join forces in the deployment of bioenergy/waste to energy technology, equipment and services in Australia, New Zealand, and Asia-Pacific Region.
AGO is a 100% subsidiary of AGO AG Energie+Anlagen, a German based company with over 35 years’ experience in the designing, engineering, construction and supply of equipment to energy projects throughout Europe and Africa. AGO specialises in the delivery of decentralised power generation projects through the construction of anaerobic digesters, natural gas and biogas CHP and trigeneration plants, with a strong presence in the food processing, food and municipal waste, dairy and beverage industries.
ReNu Energy is committed to building its capability and broadening its product offering in the Australian and regional bioenergy market. The Cooperation Agreement with AGO will enable ReNu Energy to provide further BOOM solutions whilst also growing its business through the supply of AGO powered equipment, technology, and services.
The Cooperation Agreement provides ReNu Energy with the potential to secure significant staged revenues through increased project returns, sales of capital equipment, provision of engineering services and technology transfer.
The strategic collaboration with AGO includes the appointment of ReNu Energy as an exclusive representative/distributor for the sale of all AGO products, technologies and services into the Australian, New Zealand and Asia-Pacific territories.
ReNu Energy’s benefits from the Cooperation Agreement include:
- Exclusive access to AGO’s products, technologies and services resulting in a competitive advantage in the regional bioenergy/waste-to-energy sector;
- Access to AGO’s project experience and expertise as an exclusive partner for process and design engineering;
- The ability to fast-track the development of bioenergy projects through AGO’s shared resources and technologies; and
- Access to AGO’s high-quality supply chain, enabling significant capital cost reductions and economies of scale for the technology providing a substantial competitive advantage in the Australian market.
AGO’s benefits from the Cooperation Agreement include:
- Sales and distribution of their products, technologies and services into new territories with an expert partner;
- Expanding their global footprint and further development of innovative products and solutions; and
- Increased global market share across the bioenergy/waste-to-energy sector.
Commenting on the execution of the agreement, ReNu Energy CEO and Managing Director Craig Ricato said, “After months of negotiations and discussions, we are extremely pleased to have executed the Cooperation Agreement with AGO. There are great synergies between our two businesses, particularly the significant experience which AGO has in the delivery of turnkey anaerobic digestion and generation solutions. AGO brings to the table significant expertise in project delivery across food and organic waste management, including diversion from landfill; an area of increasing importance that is currently underserved and gaining momentum in Australia.
Strategically, the AGO agreement complements our existing Bioenergy Alliance partnership with the Resonance Industrial Water Infrastructure Fund (RIWIF), providing added project investment opportunities. This is the 2nd international agreement ReNu Energy has executed in the last 12 months, validating the untapped investment potential the Australian bioenergy market offers and more importantly, how ReNu Energy is positioning itself to be a leading market participant.”
“AGO Bioenergy is extremely pleased to enter into the Cooperation Agreement with ReNu Energy”, said Mr. Thorsten Winkler, Managing Director of AGO Bioenergy. “After a comprehensive review of the Asia-Pacific region, we believe that ReNu Energy is best positioned to act as our local partner. ReNu Energy has a demonstrated track record in the bioenergy space and we believe that by providing ReNu Energy with access to AGO’s technologies, equipment, design and services, both companies will play a significant role in the development of the waste-to-energy and bioenergy market within the region.”