Waga Energy secures $180mn funding to accelerate production in the United States
Waga Energy has secured $180mn in senior debt over four years to develop its biomethane project portfolio at landfill sites in the United States.
| Sectors | Gas, Biomethane |
|---|---|
| Themes | Investments & Transactions, Financing, Project Development |
Waga Energy has finalised $180mn in funding from Crédit Agricole Corporate and Investment Bank and HSBC Asset Management to support the expansion of its biomethane production capacities in the United States. The senior debt agreement runs over a four-year period and will enable the company to strengthen operations in a U.S. market with growing demand for competitive gas solutions.
The French company, which specialises in upgrading landfill biogas, plans to use the funds to accelerate industrial deployment of its patented WAGABOX® units across its American project pipeline. The financing was structured with Crédit Agricole CIB acting as arranger and co-lender, and HSBC Asset Management also acting as lender and lending agent.
13 U.S. projects underway, including 2 in operation
To date, Waga Energy has signed 13 gas exploitation contracts with landfill operators in the United States. Two units are currently operational, with 11 others under construction. These facilities will represent an annual installed capacity of 1.4 terawatt-hours (TWh), according to data released by the company.
The projects aim to produce competitively priced biomethane for injection into existing gas networks. This strategy enables the group to meet rising demand for alternative gas sources while consolidating its presence across North America.
Funding to support large-scale growth
The company sees this funding as a lever to accelerate conversion of its U.S. project pipeline, a market viewed as strategic within its industrial roadmap. Waga Energy plans to continue deploying units at new sites to expand its production base and secure recurring long-term revenue.
Jean-Michel Thibaud, Group Chief Financial Officer and Deputy General Manager, described the transaction as a “structuring funding deal”, highlighting the strategic role of the financial partners in this new growth phase. Guénaël Prince, co-founder and Managing Director of the U.S. subsidiary Waga Energy Inc., also noted the financial stability provided by the debt to support upcoming industrial investments.
