Bryan, Garnier & Co acts as Equity Advisor, Sole Global Coordinator & Joint Bookrunner on Waga Energy’s EUR 52 million Follow-On Offering

Energy Transition & Sustainability, Private Placements

Bryan, Garnier & Co acts as Equity Advisor, Sole Global Coordinator & Joint Bookrunner on Waga Energy’s EUR 52 million Follow-On Offering

Waga Energy is an independent producer of renewable natural gas (RNG or biomethane) from landfill gas, with operations in Europe and North America, and has developed a unique patented proprietary technology for landfill gas purification combining membrane filtration and cryogenic distillation, the WAGABOX©.

Waga Energy operates 22 units in France, Spain, Canada and the US, representing an installed capacity of 730 GWh per year (3,000,000 MMBtu).

In addition, Waga Energy has developed a large pipeline of circa 160 projects worldwide representing a total potential capacity of 11.8 TWh/y, including 2.7 TWh/y in the advanced phase.

Since inception in 2015, the company has delivered a flawless industrialisation and commercialisation track-record in Europe, and over the last few months has successfully penetrated North America, winning landmark projects with both public and private landfill operators.

Waga Energy is addressing a large and yet untapped market of circa 20,000 landfills worldwide of which around 4,200 are located in key geographies in North America and Europe, representing a massive source of renewable and local energy.

Waga Energy has been listed on Euronext Paris since October 2021.

Bryan, Garnier & Co acts as Equity Advisor, Sole Global Coordinator & Joint Bookrunner on Waga Energy's €52m Follow-On Offering.

Waga Energy launched the offering on March 20th on the back of:

A successful Capital Markets Day providing a strategic update following robust news flow (notably commercial wins in North America and a $60m US construction debt financing)
The support from historical financial and strategic shareholders (ALIAD, Noria, Starquest, Vol-V, Tertium, and CMA-CGM) and a new investor (Enowe) which entered into subscription commitments

The final price was set as €13.20 per share, representing a limited 2.2% discount to last close of €13.50 on March 20th.

High-quality French and international, primarily long-only, demand led to an oversubscribed offering, enabling the company to raise €52m in gross proceeds and increased the free-float.

Proceeds will fund the equity portion of the capex investments in new projects and the pre-manufacturing and manufacturing of WAGABOX© units to deliver on its international expansion. With the net proceeds of the offering, together with additional non-dilutive sources of financing including corporate debt, the company expects to finance the capex investments required to reach its 2026 revenue objective of €200m.

This is the second consecutive capital raise Bryan Garnier has led for Waga Energy after its €126m IPO in October 2021.

Waga Energy (EPA: WAGA) produces competitively priced Renewable Natural Gas – RNG – (also known as “biomethane”) by upgrading landfill gas using a patented purification technology called WAGABOX®. The RNG produced is injected directly into the gas distribution networks that supply individuals and businesses, providing a substitute for fossil natural gas. Waga Energy finances, builds and operates its WAGABOX® units under long-term contracts with landfill operators for the supply of raw gas, and generates income by selling the RNG it produces or by offering a purification service. Waga Energy operates 22 units in France, Spain, Canada and the US, representing an installed capacity of 730 GWh per year (3,000,000 MMBtu). Each project initiated by Waga Energy contributes to the fight against global warming and helps the energy transition. Waga Energy is listed on Euronext Paris.