French energy company Engie has invested in a small scale biogas system provider HomeBiogas.
The biogas system is expected to contribute to the global development of green gas and access to low-carbon and reliable energy.
Engie, through its Corporate Venture Capital fund ‘Engie New Ventures’, takes a 13% minority stake in HomeBiogas, a company pioneering the field of household biogas solutions.
HomeBiogas, an Israeli startup founded in 2012, developed ‘HomeBiogas 2.0’, a small size biogas digester perfectly adapted to families, that can be ordered online and easily self-assembled in only 1 hour. With as little as 2 kilos of food scraps or leftovers, HomeBiogas 2.0 can provide up to 2 hours of cooking gas daily, to be used with the included cooking stove.
HomeBiogas 2.0 gives ordinary homeowners the capability of utilizing unused resources and creating their own energy. Additionally, HomeBiogas 2.0 creates a second by-product: organic, liquid fertilizer to nourish home crops and gardens. When used regularly the return on investment for the digester is only one year.
With customers in over 90 countries, the HomeBiogas waste-to-energy solution targets two distinct markets: it is a life-changing technology for the 540 million families living in emerging countries, currently without access to clean cooking fuels. Still burning charcoal and wood for fuel, millions of people face long-term detrimental health effects.
HomeBiogas CEO and co-founder Oshik Efrati “HomeBiogas gives a reliable, health and cost-effective solution to the people who need it the most. It provides free energy and gives the people the power over their waste management.”
Moreover, the technology could enable 200 million families in developed countries to engage in concrete actions towards reducing their carbon footprint and living a more sustainable lifestyle. Each family can reduce their carbon footprint by 6 tons by using HomeBiogas 2.0 for one year.
Engie New Ventures director Hendrik Van Asbroeck said: “This investment illustrates ENGIE’s commitment to providing low-carbon and reliable energy access to people globally, as well as to developing green gas solutions. The HomeBiogas business model is smart and simple, two qualities that convinced us to invest in their company and to help them boost their development both in Europe and in developing countries.”
Lack of access to energy is among the biggest challenges for rural areas in developing countries, contributing to many problems that range from deforestation and water and air pollution to disease epidemics. Engie, a leader and pioneer of the energy transition, develops a range of solutions with an objective of providing access to sustainable energy for 20 million people by 2020; among Engie’s projects are Power Corner, a mini-grid offer in Tanzania, and Fenix International which offers Solar Home Systems in Africa. HomeBiogas complements this range of solutions, adding a green gas component. It also contributes to the goal of the Engie Group to develop biogas at a larger scale, as green gas and green electricity are both necessary for a decarbonized and decentralized energy world, and thus to foster a more harmonious progress.
Source: Company Press Release