Anaergia to Build Biogas Facility on South Korea’s Jeju Island in $29 Million Deal
(P&GJ) — Anaergia Singapore Pte. Ltd., a subsidiary of Anaergia Inc., has signed a conditional contract to design and build a biogas facility on Jeju Island, South Korea.
The agreement with New Jeju Bio Co. Ltd. includes a C$30 million main contract and a supplemental agreement worth C$10 million (total US$29.2 million). The facility is expected to be completed by mid- to late-2027, pending financial close and other routine conditions.
The Jeju Bio Energy Biogas Plant will process about 54,000 tons of organic waste annually—including slaughterhouse byproducts and sewage sludge—into roughly 2 megawatts of renewable energy. The biogas will fuel a combined heat and power (CHP) system to support on-site operations, including pasteurization, evaporation, and digestate drying. The facility will also treat and recycle its wastewater in compliance with local discharge regulations.
“New Jeju Bio chose Anaergia for this project due to its proven ability to deliver integrated, complex solutions,” said Sae Hyun Cho, CEO of New Jeju Bio. “Throughout the design process, we expanded our use of Anaergia’s technologies to address the diverse organic waste streams generated on Jeju Island and optimally transform them into valuable resources.”
“Finalizing the contract with New Jeju Bio marks an even more significant achievement than we had previously envisioned,” said Assaf Onn, CEO of Anaergia. “Not only is this a very significant project in a key new market, but it also clearly demonstrates how our industry-leading, integrated suite of technologies provides a proven, comprehensive solution for project developers seeking reliable, innovative organic waste to energy systems.”
This agreement builds on Anaergia’s previously announced Letter of Award from September 2024, and reflects an expanded project scope and increased revenue forecast.
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