RWE Innogy Venture Capital together with European financial investor Gimv have signed up to an agreement to invest in the Belgian combined heat and power generation company, GreenWatt S. A.

GreenWatt designs, operates and builds turnkey biogas plants for the decentralised generation of renewable heat and power from biodegradable high water content wastes without depending on the addition of slurry.

This technology is therefore particularly suitable for the energy recovery from organic wastes and residues from agriculture and the food industry directly at the site of their origin.

In total a financing round of $7.9m (EUR6m) is planned to finance GreenWatt’s international growth. This is the first new investment by Innogy Venture Capital’s fund IRTF I since RWE Innogy and Bankhaus Lampe signed their strategic cooperation agreement last November.

Prof. Fritz Vahrenholt, CEO RWE Innogy, explains: “The distributed renewable production of energy will become increasingly important with the restructuring of the energy supply – therefore we have decided to support GreenWatt.

This innovative biogas technology has already been successfully adopted by several customers and, with the additional benefit of avoiding waste disposal costs, these plants are an economically attractive alternative for the agriculture and food industries.”

For more on-site renewable power news