Anaergia Singapore Pte. Ltd. Signs Conditional Contract to Design and Build Biogas Facility in Jeju Island, South Korea
SINGAPORE & BURLINGTON, Ontario — Anaergia Inc.'s ('Anaergia', the 'Company', 'us', or 'our') (TSX:ANRG) (OTCQX:ANRGF), subsidiary, Anaergia Singapore Pte. Ltd., has received a contract from New Jeju Bio Co. Ltd. ('New Jeju Bio') to design and build the Jeju Bio Energy Biogas Plant ('Facility'), to be constructed in Jeju Island, South Korea. The contract consists of a main agreement worth approximately C$30 million plus a supplement agreement valued at approximately C$10 million, and the company currently anticipates that the project will be completed in mid- to late-2027. The contract is subject to a number of routine conditions, including that the client arrange the financial close of this project.
Article content
This development represents an expansion of Anaergia's involvement, previously disclosed on September 3, 2024, when a Letter of Award for this Facility was announced. The increase in Anaergia's projected revenues from the amount disclosed at that time reflects both the expanded scope and the increased project size.
Article content
The Facility aims to convert approximately 54,000 tons per year of organic waste, including waste from slaughterhouses and undigested sludge from local sewage treatment plants, into about two (2) megawatts of renewable energy. The biogas produced will be used to power a combined heat and power (CHP) system, providing electricity and heat to support various operations, including digestion, pasteurization, evaporation, and digestate drying. Additionally, the wastewater generated will be treated and recycled on-site, adhering to strict discharge regulations, while significantly reducing greenhouse gas emissions and promoting waste recycling across Jeju Island.
Article content
'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.'
Article content
'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.'
Article content
About New Jeju Bio
Article content
New Jeju Bio Co Ltd is a developer of organic waste to energy and recycling projects leading to production of biogas and fertilizer in South Korea. Its mission is to support the 2021 Declaration of '2030 Waste Free Jeju.' It believes in creating environmental value through co-evolution of Jeju's natural environment and humanities. Founded with the principles of developing state of the art biogas facilities by integrating advanced and proven technologies, New Jeju Bio intends to be the leading biogas player not only in Jeju but also in South Korea.
Article content
About Anaergia
Article content
Anaergia is a pioneering technology company in the renewable natural gas (RNG) sector, with over 250 patents dedicated to converting organic waste into sustainable solutions such as RNG, fertilizer, and water. We are committed to addressing a significant source of greenhouse gases (GHGs) through cost-effective processes. Our proprietary technologies, combined with our engineering expertise and vast experience in facility design, construction, and operation, position Anaergia as a leader in the RNG industry. With a proven track record of delivering hundreds of innovative projects over the past decade, we are well-equipped to tackle today's critical resource recovery challenges through diverse project delivery methods. As one of the few companies worldwide offering an integrated portfolio of end-to-end solutions, we effectively combine solid waste processing, wastewater treatment, organics recovery, high-efficiency anaerobic digestion, and biomethane production. Additionally, we operate RNG facilities owned by both third parties and Anaergia. This comprehensive approach not only reduces environmental impact but also significantly lowers costs associated with waste and wastewater treatment while mitigating GHG emissions.
Article content
For further information please see: www.anaergia.com Forward-Looking Statements This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects Anaergia's current expectations regarding future events. Forward-looking information is based on a number of assumptions, including, but not limited to counterparty contractual performance and its procurement of the financing that is a necessary condition to proceed with detailed engineering and construction of the Facility, the capability of the Company's technology and performance with respect to the project objectives, the sufficient sourcing of food waste, heat and power generation, and the sufficient production of digestate and recycled water for the project objectives. The Company is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under 'Risk Factors' in the Company's annual information form for the fiscal year ended December 31, 2024, and under 'Risks and Uncertainties' in the Company's most recent management's discussion and analysis. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws. Additional information on these and other factors that could affect Anaergia's operations or financial results are included in Anaergia's reports on file with Canadian regulatory authorities.
Article content
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
3 hours ago
- Globe and Mail
3 Integrated Energy Stocks to Gain Despite Industry Vulnerability
The crude oil pricing environment is expected to experience significant volatility this year, which will negatively impact the exploration and production activities of integrated energy companies. A deceleration in oil production growth can create challenges, thereby constraining earnings from upstream operations. At the same time, the accelerating shift toward renewable energy is introducing greater uncertainty to the Zacks Oil and Gas Integrated International industry's prospects. This combination of factors suggests a challenging and softened industry environment that is expected to persist through at least the remainder of 2025. Among the companies in the industry that will probably survive the business challenges are Exxon Mobil Corporation XOM, Chevron Corporation CVX and Shell plc SHEL. About the Industry The Zacks Oil and Gas Integrated International industry covers companies primarily involved in upstream, midstream and downstream operations. These companies have upstream businesses in the United States (including prolific shale plays and the deepwater Gulf of Mexico), Asia, South America, Africa, Australia and Europe. Midstream operations of energy companies entail transporting oil, natural gas liquids and refined petroleum products. In downstream businesses, the firms buy raw crude to produce refined petroleum products. The companies' downstream activities involve chemical businesses that manufacture raw materials for making plastics. The integrated players are now gradually focusing on renewables, leading to the energy transition. The firms aim to lower emissions from operations and cut the carbon intensity of the products sold. 3 Trends Shaping the Future of the Industry Macroeconomic Volatility: The integrated energy sector is currently navigating a highly uncertain and challenging macroeconomic environment. Refining, renewable energy and chemical segments are particularly under pressure due to limited visibility into future market dynamics. Escalating trade tensions are compounding this uncertainty, raising concerns over potential economic slowdowns. Meanwhile, oil prices remain volatile, swayed by geopolitical risks and fluctuating OPEC+ production strategies. As a result, major integrated energy players are grappling with profitability challenges. Slowdown in Production Growth to Hurt Upstream Business: There has been a slowdown in oil production growth in the upstream businesses of integrated energy companies in the United States due to shareholder demands for a greater focus on returning capital rather than investing in production expansion. As production growth slows, output decreases, which can lead to reduced revenues. Since upstream operations depend heavily on volume to generate income, any stagnation in production growth has a direct and negative impact on their bottom line. Growing Demand for Renewables is Concerning: Governments, investors and stakeholders are placing growing emphasis on addressing climate change, leading to an increased demand for renewable energy. Consequently, the demand for products reliant on oil, natural gas and natural gas liquids is expected to decline, with solar and wind energy gaining prominence in the energy landscape. The integrated energy firms are adversely impacted by these trends as they are primarily engaged in the production and transportation of fossil fuels, such as oil, and the sale of refined petroleum products. Zacks Industry Rank Indicates Bearish Outlook The Zacks Oil and Gas Integrated International industry is part of the broader Zacks Oil - Energy sector. It carries a Zacks Industry Rank #189, which places it in the bottom 23% of the 245 Zacks industries. The group's Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Before we present a few stocks that you may want to consider, let us take a look at the industry's recent stock market performance and valuation picture. Industry Lags S&P 500 & Sector The Zacks Oil and Gas Integrated International industry has underperformed the broader Zacks Oil - Energy sector and the Zacks S&P 500 composite over the past year. The industry has plunged 5.4% over this period compared with the S&P 500's growth of 17.3% and the broader sector's decline of 2.6%. One-Year Price Performance Industry's Current Valuation Since oil and gas companies are debt-laden, it makes sense to value them based on the Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA) ratio. This is because the valuation metric takes not just equity into account but also the level of debt. On the basis of the trailing 12-month EV/EBITDA, the industry is currently trading at 4.27X, lower than the S&P 500's 17.85X. It is also below the sector's trailing 12-month EV/EBITDA of 4.77X. Over the past five years, the industry has traded as high as 6.54X and as low as 2.75X, with a median of 4.11X. Trailing 12-Month Enterprise Value-to EBITDA (EV/EBITDA) Ratio 3 Integrated International Stocks to Watch Chevron: The company completed its $53-billion acquisition of Hess Corporation, thereby strengthening its upstream portfolio and obtaining a 30% interest in the highly valued Stabroek Block offshore Guyana. Chevron gains strategic access to one of the most prolific deepwater discoveries of the past decade, estimated to hold more than 11 billion barrels of recoverable oil. The acquisition also strengthens its position in the U.S. Bakken shale, the Gulf of Mexico and Southeast Asia. It currently carries a Zacks Rank #3 (Hold). The move comes as a turning point for Chevron as it is facing mounting pressure to replenish its reserves and strengthen free cash flow amid ongoing volatility in the oil markets. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Price and Consensus: CVX ExxonMobil: The company's acquisition of Pioneer Natural Resources expanded its production capabilities in the Permian Basin, one of the most profitable regions in the United States due to its inexpensive production costs. XOM boasts a strong portfolio of upstream assets, focused on oil-rich resources in the Permian Basin and offshore Guyana. Production costs in those assets are low. Therefore, the leading integrated energy major can overcome a collapse in oil and gas prices. Similar to its operations in the Permian, ExxonMobil boasts a robust project pipeline in offshore Guyana resources. It presently carries a Zacks Rank #3. Price and Consensus: XOM Shell: The company's acquisition of Pavilion Energy strengthens its LNG trading capabilities and positions itself for long-term growth in cleaner fuels. Shell's position as a major supplier of LNG should help the company meet the fuel's growing demand and improve its cash flow. Shell, with a Zacks Rank of 3, is targeting a 4-5% annual increase in LNG sales over the next five years and 1% annual production growth. Price and Consensus: SHEL 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exxon Mobil Corporation (XOM): Free Stock Analysis Report Chevron Corporation (CVX): Free Stock Analysis Report
CTV News
7 hours ago
- CTV News
BTS agency HYBE raided over alleged fraud trading
A fan of K-pop band BTS poses with a group photo of BTS during the annual 2025 BTS Festa celebrating the BTS' debut anniversary in Goyang, South Korea, Friday, June 13, 2025. (AP Photo/Lee Jin-man) Seoul, South Korea -- HYBE, the agency behind K-pop superstars BTS, was raided by police on Thursday in connection with alleged fraudulent trading involving its founder Bang Si-hyuk, investigators said. 'We are conducting a search and seizure at HYBE's headquarters in Yongsan District,' the Financial Crimes Investigation Unit of the Seoul Metropolitan Police Agency said in a brief statement. Bang, the mastermind behind BTS, is under investigation over allegations that he misled early investors to reap illicit profits from the company's 2020 initial public offering. He is accused of gaining around 200 billion won (US$146 million) through the process, according to local reports. HYBE has denied Bang committed any wrongdoing. 'We will dutifully clarify that the listing at the time was carried out in compliance with all relevant laws and regulations,' the company said in a statement in early July, pledging 'active cooperation' with authorities to get to the bottom of the case. The investigation comes as all seven BTS members complete their mandatory military service and prepare for a comeback next year. HYBE announced earlier this month that a new album and world tour were scheduled for 2026. BTS, known for championing progressive causes, holds the record as the most-streamed group on Spotify and became the first K-pop act to top both the Billboard 200 and Billboard Artist 100 charts in the United States. Before their military service, BTS generated more than 5.5 trillion won ($4 billion) in yearly economic impact, according to the Korea Culture and Tourism Institute. That accounts for roughly 0.2 per cent of South Korea's total GDP, according to official data.
CTV News
9 hours ago
- CTV News
World shares rise, buoyed by hopes for more trade deal after the U.S.-Japan tariff pact
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, July 24, 2025. (AP Photo/Ahn Young-joon) MANILA, Philippines — World shares rose Thursday, buoyed by optimism that the U.S.-Japan tariff agreement announced a day earlier will be followed by more trade deals. Later Thursday, the European Central Bank was expected to hold off on making another interest rate cut as it waits to measure the size of any economic blow from higher U.S. tariffs. U.S. President Donald Trump has sent the EU a letter laying out a 30% tariff rate, but European trade officials are hoping to haggle that down to as low as 10%. Separately, European leaders called for concrete progress in addressing the bloc's yawning trade deficit with China at a summit with President Xi Jinping in the Chinese capital on Thursday. In early European trading, Germany's DAX rose 0.8% to 24,430.74. In Paris, the CAC 40 added 0.2% to 7,862.52, while Britain's FTSE 100 climbed 1% to 9,150.50. The future for S&P 500 added less than 0.1% while that for the Dow Jones Industrial Average was down 0.3%. Trump has proposed stiff taxes on imports from around the world, which carry the double-edged risk of driving up inflation while slowing economies. But many of his tariffs are on pause, giving time to reach deals with other countries that could lower the tax rates. Trump also announced trade agreements with the Philippines and Indonesia this week. Japan's Nikkei 225 surged 1.6% to 41,826.34. It had jumped 3.5% a day earlier on enthusiasm over the trade deal with Washington, which would raise U.S. import duties on most exports from Japan to 15% from 2.5%, instead of the 25% Trump had threatened to impose. The Shanghai Composite Index added 0.7% to 3,605.73, while Hong Kong's Hang Seng index rose 0.5% to 25,667.18. South Korea's Kospi added 0.2% to 3,190.45, shedding some of its earlier gains, after central bank data showed Thursday that the country's economy expanded at a 0.6% annual rate in the last quarter, above expectations thanks to robust private consumption and exports. Australia's S&P ASX 200 slid 0.3% to 8,709.40. Taiwan's Taiex gained 0.2% while India's BSE Sensex shed 0.7%. 'Asian equities caught another updraft, rising for a sixth straight session, as whispers of broader trade accords scattered across the tape like migrating birds sensing the storm has passed,' Stephen Innes of SPI Asset Management wrote in a commentary. 'With the ink barely dry on the U.S.-Japan tariff truce — inked at a palatable 15% — traders are already scanning the horizon for the next deal to surface. Europe? Maybe. India? China? Everyone? Perhaps. But the mood is pure Electric Avenue,' he added. The Nomura Group, in a research report, said the tariff rates set by the U.S. for Indonesia and the Philippines, at 19%, 'are fairly high and therefore pose downside risks to their respective growth outlooks.' It estimated the direct effects could reduce GDP growth by 0.2 percentage point in Indonesia and 0.4 percentage point in the Philippines. Still, most markets across the region advanced. On Wednesday, U.S. stocks set more records following a trade deal between the world's No. 1 and No. 4 economies, one that would lower proposed tariffs on Japanese imports coming to the United States. The S&P 500 added 0.8% to its all-time high. The Dow Jones Industrial Average rallied 507 points, or 1.1%, and the Nasdaq composite climbed 0.6% to hit its own record. So far, the U.S. economy has seemed to hold up OK despite the pressures on it. And tariffs already in place may be having less of an effect than expected, at least when it comes to the prices that U.S. households are paying at the moment. In other dealings on Thursday, U.S. benchmark crude oil added 90 cents to US$66.15 per barrel. Brent crude, the international standard, rose 84 cents to $69.35 per barrel. The U.S. dollar climbed to 146.60 Japanese yen from 146.51 yen. The euro slid to $1.1751 from $1.1777. Teresa Cerojano, The Associated Press
