Paris, December 2024 - Astris Finance congratulates its client CVE Biogaz, a subsidiary of the independent renewable energy producer CVE and a major player in the recovery of organic matter and anaerobic digestion in France, for the closing of a capital raise whereby BNP Paribas Asset Management's Low Carbon Transition Infrastructure Equity Fund (“BNPP AM”) will invest EUR 70m. It will enable CVE Biogaz to accelerate its development and strengthen its position in the biogas market in Europe.

The investment by BNPP AM follows that of Swen Capital Partners, which had injected EUR 40m in CVE Biogaz between 2021 and 2023. It underlines the confidence of institutional investors in the potential of biogas to accelerate the energy transition and strengthen the circular economy.

Hervé Lucas, co-founder of CVE stated: “This transaction, achieved with the very valuable support of Astris, will allow us to continue our development. We want to actively contribute to the ambitions of the French biogas sector, which aims at increasing the share of renewable and low-carbon gas to 20% of our national consumption by 2030, from 2% today”.

Arnaud Germain, who heads Astris’s operations in Europe, said: “We want to thank CVE for their trust in Astris Finance’s capacity to help them close such an important transaction for the development plan of CVE Biogaz. We are very proud to have successfully advised to design and setup this capital raise with a strong partner such as BNPP AM.”

Astris acted as exclusive financial advisor to CVE Biogaz. This landmark transaction further reinforces the relationship between Astris and CVE, and is also a testimony to Astris’s ability to work on a wide array of sectors related to energy transition.