Future Biogas is one of the largest anaerobic digestion ("AD") plant developers and biogas producers in the UK. It owns stakes in and operates nine AD plants and operates an additional three AD plants under medium-long term contracts.

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Overview

Future Biogas’s plants convert a wide range of feedstocks into clean and renewable energy through AD which produces biogas. Biogas can either be used to generate green electricity, or upgraded into biomethane and injected into the UK’s national gas network. Future Biogas produces approximately 700GWh of biogas per year across 12 sites.

Biomethane from AD is a ready-to-use and commercially viable solution for hard to decarbonise industrial sectors. It does not require any upgrade to the existing UK gas infrastructure. Energy produced by AD plants is carbon neutral, as the CO2 released during the process matches the CO2 absorbed from the atmosphere by the feedstock.

Future Biogas promotes a regenerative farming approach, sustainably integrating feedstock from energy crops into agricultural systems. The circular process of returning digestate back to land can help replenish soil nutrients and carbon and displaces demand for carbon intensive artificial fertilisers.

Why we invested

Our investment in Future Biogas was based on delivering the investment thesis of transitioning the company from a manager of third-party biogas plants into a leading developer, asset owner and operator of green gas plants in the UK. 

Recent developments

Future Biogas performed ahead of expectations, driven by higher average gas prices and strong production volumes.

In August 2024, the company acquired a 51% stake in a portfolio of six gas-to-grid AD plants from JLEN Environmental Assets Group Limited (‘JLEN’). This investment has increased the operational scale of the company and was an important milestone.

In September 2024, we syndicated a 23% stake in Future Biogas to RWE Energy Transition Investments (‘RWE’) for proceeds of £30 million. RWE brings extensive experience in the broader energy sector, and its investment endorses the potential of the platform and the strategy we are pursuing.

In January 2025, the company completed construction of the Gonerby Moor site, further expanding its operational scale. The site has a 15-year offtake agreement with AstraZeneca for the green gas produced.

In March 2025, we completed a refinancing on favourable terms, increasing the company’s debt capacity to support future growth.