'PDENH sells Sustenso at logical time'

19 April 2024

Sustenso, the innovative company that converts green waste into biogas, is leaving investment fund PDENH as of April 8th. This decision follows the sale of the biogas plant in Alkmaar to technical service provider ENGIE, which is intended to enable faster scaling of the plant. Sustenso will continue to work with the new owner and will pursue other projects related to the reuse of waste streams such as CO2 and digestate.

PDENH and other financiers provided the necessary investments for the digester in Alkmaar, where biogas is made from fruit and vegetable waste that can no longer be used in other processes. The gas is converted into green energy in the digester, with which the installation contributes to the energy transition.

Strategic choice

Sustenso's decision to exit stems from a combination of factors. Discussions with ENGIE and the current financiers led to the conclusion that scaling up the biogas plant is more promising within a large company. A major player also offers more opportunities to respond to current movements in the energy market. Sustenso thus expects to serve the energy transition by selling the biogas plant.

Grateful for support

Hans van der Weide MCM, CEO of Sustenso, expresses his gratitude for the support his company has received from various parties over the past few years: ‘PDENH and KplusV have been involved with Sustenso from the very beginning and have guided our team well in creating business plans and funding applications. The financial backing from PDENH and Rabobank was also indispensable in enabling the realisation of the biogas plant in Alkmaar.’

Logical moment

‘We are proud to have contributed to Sustenso,’ says Jonathan Moed, Investment Manager PDENH at StartGreen Capital. ‘PDENH's vision has always been that green gas will play a significant role in the energy transition. This exit is proof of the rapid movement in the biogas market. For PDENH, this is therefore a logical moment to hand over the baton to larger parties.’

‘Continuing to contribute to a sustainable future’

Van der Weide emphasises that the sale of the biogas plant to ENGIE is a well-considered choice that benefits both Sustenso and the planet: ‘Through this step, we at Sustenso are creating space for an even greater contribution to a sustainable future. We will remain involved in the further development of the plant for the time being, and will continue to produce nutritional supplements from CO2 and methanol from digestate – all with a view to innovation and a positive impact on people, the region, and nature.’