SKS has secured financing from SWEN CP to expand its team and accelerate the development of biogas production facilities that convert organic waste to renewable natural gas ("RNG"). SWEN CP, through its strategy SWEN Impact Fund for Transition dedicated to the Energy Transition, aims to contribute to the decarbonization of hard-to-abate sectors in Europe and North America by investing in companies that share a common goal for creating positive environmental and social impacts.
The SKS team is experienced in developing, constructing, and operating biogas facilities, and has longstanding relationships in the dairy and food processing industries that should lead to future development opportunities. In partnership with SWEN CP, SKS plans to maintain its strong focus on the dairy sector while pursuing emerging opportunities involving other organic waste resources that can be utilized to generate renewable energy.
"We are thrilled to be partnering with SWEN CP and believe they will be instrumental in helping us achieve our vision for building an attractive portfolio of high-quality projects in the agricultural and food processing industries," says SKS CEO, Dr. Dana Kirk, Ph.D., P.E. "Having successfully raised and deployed capital aimed at growing biomethane companies throughout Europe, we think the SWEN CP team's knowledge, experience, and investment philosophy make them an ideal partner."
"We are delighted to support SKS, a leading RNG developer, and its highly recognized management team. Our partnership will accelerate SKS growth and help the management team to expand its portfolio of RNG projects," adds Charlotte Virally, SWEN CP Investment Director. "This also represents a compelling opportunity for SWEN CP to expand our operations to the United States, utilizing our experience in supporting leading RNG players and projects in Europe."
The current SKS portfolio includes seven RNG production facilities that are in various stages of construction, operations, or expansion in the United States. Once fully operational, these facilities, which use anaerobic digestion to process the organic waste generated at 13 different dairy farms, are expected to produce nearly 1.5 million dekatherms of RNG annually. With key relationships in place with industry leading project finance, gas monetization, equipment procurement, engineering, and construction partners, the SKS team is poised for continued growth in the coming years.
