The Grenoble startup Waga Energy, which has developed a biogas upgrading technology for landfill sites, announced on November 12, 2019 that it raised € 10 million to finance its international expansion. The company will create two subsidiaries in North America.
“After demonstrating the performance of our Wagabox solution in France, we are launching its international expansion,” said Mathieu Lefebvre, co-founder and CEO of Waga Energy.
Created in 2015 as an Air Liquide spin-off, the startup now operates 6 Wagabox in France and today has 5 units under construction.
In addition to producing the Wagabox, it generates revenue by selling energy to biomethane producers produced on landfill sites operated by Suez or Veolia. It has an installed capacity of 100 GWh / year.
Thanks to this fundraising, Waga Energy will create two subsidiaries: one based in Philadelphia (Pennsylvania, USA) and the other in Shawinigan (Quebec, Canada).
“There are 250 landfills in France and more than 20,000 in the world: 98% of our market is international,” says Mathieu Lefebvre.
The 10 million euros were raised, notably from the historic shareholders of Waga Energy (Air Liquide, Ovive and Starquest Capital) and Noria and Tritium investment funds.