ImpactAlpha, July 30 – ENGIE New Ventures, the venture capital arm of French energy company ENGIE, has taken a 13% stake in Israeli biogas company HomeBiogas.
ENGIE’s investment in HomeBiogas fits into a growing portfolio of small-scale clean energy companies that focus on emerging markets. The company, through various venture funds and investment initiatives, has invested in off-grid solar companies PEG Africa, BBOXX, Kingo and Fenix International and solar microgrid company Mera Gao Power. The terms of its investment in HomeBiogas were not disclosed.
HomeBiogas makes small scale biodigesters that convert household biological waste, like food scraps or animal waste. The system can process six liters of waste per day, producing about two hours-worth of cooking fuel. HomeBiogas, which started in 2012, sells its products in 90 countries, both individually to households and through partnerships to install community-scale systems in places that otherwise rely on firewood and charcoal for cooking.