German renewables specialist The Entrade Group said today it had acquired bio-energy plants operator Agnion Energy Inc from its owners for an undisclosed amount.
Entrade agreed this month to buy the business from venture capital firms Kleiner Perkins Caufield & Byers, Wellington Partners, Munich Venture Partners and waste management services provider Waste Management Inc (NYSE:WM).
The vendors’ previous combined investment in the target amounts to EUR35m (USD45m).
Benefits from the acquisition include technology transfer and synergies in wood gasification, the buyer noted.
Agnion, which is headquartered in Pfaffenhofen, Germany and has a branch in Bolzano, Italy, will be integrated into Entrade Energiesysteme AG.