Lightrock announces an investment into Antec Biogas, a leading developer of novel biogas reactor technologies

Lightrock, a global impact-investing pioneer investing into scalable and tech-driven businesses around the key impact themes of people, planet, and productivity/tech for good, has invested in Antec Biogas, a Norwegian technology company whose novel approach to biogas production generates superior efficiency and enhanced access to sustainable fuel.

Founded in 2014 and headquartered in Oslo/Norway, Antec has developed a proprietary, modular and highly efficient biogas reactor technology, leveraging a multi-chamber approach to convert organic wastes (manure, fish sludge etc.) into biogas. The process is versatile and enables end-users to use the biogas for heat, energy and fuel. Antec’s technology outperforms other biogas systems in terms of throughput, yield, installation and operating cost as well as ease of scaling, resulting in a 30-50% cost reduction (EUR/MWh) compared to traditional biogas technologies and a 60-70% faster time-to-value for feedstock owners such as farmers, municipalities and aquaculture businesses. Antec has developed various biogas projects in Norway and internationally already, working with exciting partners and technologies across the value chain.

Lightrock invests alongside Antec’s existing investors as well as Norselab, a leading Norwegian VC fund, to support Antec’s growth in Norway and abroad, as well as ongoing technology development to extend its competitive advantages.

Lightrock’s investment in Antec is motivated by the global goals to reduce greenhouse gas and CO2 equivalents. In this context, biogas is increasingly seen as critical as it i) acts as a storable and dispatchable renewable energy source in grids, ii) can be used as a source of heat for buildings and local power for communities where decentralised, closed-loop systems are feasible, iii) can be a source of energy-dense fuel in the transport industry and iv) plays an important role in waste management and hence overall energy efficiency. Antec frees biogas production from its key constraints of heavy, upfront capital outlays on large, complex and expensive plants and limited efficiency, meaning it can now truly fulfil its key role in Net-Zero.

Kevin Bone, Partner at Lightrock and deal lead for Antec, says: “We back solutions that i) have the potential to maximise renewables sources and resource circularity, ii) are scalable to meet supply and demand indicators in line with population and economic growth but can deliver in localised/distributed models, ii) are efficient in the production and conversion of input to output, and iv) can integrate with evolving energy systems as they de-carbonise. We rate Antec highly on these axes, see this technology as unlocking the true potential of biogas and believe management’s mission, “to change the rules of the game”, is an important step towards achieving targets of carbon neutrality in a logical and economic manner. We look forward to supporting them in this mission.”

Pål Erik Sjåtil, CEO and Global Managing Partner of Lightrock, adds: “Biogas benefits from significant market tailwinds as it is a critical and cost-effective element of the energy transition. In parallel, the sustainable management of waste continues to be both an environmental challenge itself and a large untapped energy source. Antec effectively leverages both dimensions with a novel, future-oriented, circular, and scalable technology that enables more attractive unit economics and financing options, as well as decentralised, small scale production at the point of waste access.”

About Lightrock

Lightrock is a global private equity platform backing purpose-driven entrepreneurs tackling the world’s biggest challenges.

Since 2007, Lightrock has invested in companies that pursue scalable and tech-driven business models around the key impact themes of people, planet, and productivity/tech for good. Lightrock’s portfolio includes more than 60 high-growth companies, supported by over 50 professionals based in 7 cities across Europe, Latin America, India and Africa.

Lightrock is backed by the Princely House of Liechtenstein and LGT, the international private banking and asset management group.

www.lightrock.com



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