Hyperthermics AS has developed a technology that enhances the efficiency of conversion of organic waste into biogas and protein mass. The London-based company Ultramar Energy Ltd. believes in the technology and will co-finance three plants from Hyperthermics.
The two companies have signed a letter of intent to the effect that Ultramar Energy Ltd will contribute a share of NOK 30 million to finance three full-scale biogas and protein plants. This will contribute to the further commercialisation of Hyperthermics’ unique biotechnology solutions. The company already has a pilot plant at the Lindum site in Drammen. This has been in operation since 2017.
“This is a very important agreement for us,” says Erlend Haugsbø, CEO of Hyperthermics AS. “We have a unique biotechnology that enhances the efficiency of the conversion of organic waste into biogas and protein mass. We are seeing a lot of interest in the market, but the first clients want to reduce their risk, and we have now achieved this with Ultramar Energy. The solution is shared ownership until the plants have demonstrated their efficiency and operational reliability.”
The production and use of biogas are growing dramatically worldwide. This is no surprise, as it helps solve several challenges at once: safe management of waste, reduced need for imported energy, and climate-neutral transport, power generation and other gas use. These are areas in which Ultramar Energy is involved.
“The financing and production of green energy are an important area for us,” explains the founder of Ultramar Energy, Salvador Rivero. “With commitments in Europe, Asia, Mexico and Central America, we see great potential in Hyperthermics’ technology. By contributing to financing three plants, we also gain important experience at a reduced risk. If things go as we believe they will, we will be a major client of Hyperthermics in the future.”
Hyperthermics is working intensively on the pilot projects for the three plants. When the formal contracts for these pilot projects are in place, the agreement with Ultramar Energy also takes effect.