Follow-up contract for Anaergia Technologies with City of Riverside
CARLSBAD, Calif. & BURLINGTON, Ontario, October 21, 2024--(BUSINESS WIRE)--Anaergia Inc. ("Anaergia", the "Company", "us", or "our") (TSX: ANRG), announced today that its subsidiary, Anaergia Technologies, LLC ("Anaergia Technologies"), has entered into an equipment supply contract with the City of Riverside, California, to install infrastructure at the Riverside Water Quality Control Plant ("RWQCP") to enable reception of organic municipal waste from local solid waste collection companies. Consequently, such waste would be diverted from landfills and sent to the RWQCP’s anaerobic digestors to be converted into renewable natural gas ("RNG").
This contract, for approximately C$13.3 million, is supported by the California Department of Resources Recycling and Recovery ("CalRecycle") to accelerate the growth of California’s organic waste recycling infrastructure. Under the terms of a separate contract with the City of Riverside announced in August 2024, Anaergia Technologies is also upgrading the RWQCP’s anaerobic digestion system.
"Adding this infrastructure will enable the City of Riverside to enhance our environmental stewardship while meeting California’s SB 1383 regulations for organic waste recycling, and reducing costs," said Ed Filadelfia, Deputy Director of Public Works for the City of Riverside. "This is another important step in our efforts to further reduce our municipality’s carbon footprint, improve resiliency, and reduce costs," added Mr. Filadelfia.
"Providing this infrastructure supports the City of Riverside in reducing its carbon footprint while improving infrastructure and meeting organic waste recycling requirements," said Assaf Onn, Anaergia’s CEO. "This project continues Anaergia’s successful and repeatable model of retrofitting municipal wastewater treatment plants with our technology that leverages growing RNG demand backed by government incentives," added Mr. Onn.
About City of Riverside, California
Riverside is a leading Southern California city offering a blend of hometown charm, history, and hospitality with the vision, energy, culture, and diversity of a sophisticated metropolitan area. With a population of approximately 320,000 residents, Riverside proudly holds the title of the 12th largest city in California and the 6th largest city in Southern California. Riverside serves as the economic powerhouse of one of the fastest growing regions in the United States.
About Anaergia
Anaergia was created to eliminate a major source of greenhouse gases ("GHGs") by cost effectively turning organic waste into renewable natural gas ("RNG"), fertilizer and water through the use of proprietary technologies. With a track record of delivering innovative projects, Anaergia is uniquely positioned to provide solutions to today’s most pressing resource recovery challenges using a broad portfolio of proven technologies and multiple project delivery methods. Anaergia is one of the world’s only companies with a proprietary portfolio of end-to-end solutions that integrate solid waste processing as well as wastewater treatment with organics recovery, high efficiency anaerobic digestion, RNG production and recovery of fertilizer and water from organic residuals. The combination of these technologies enhances carbon-negative biogas, clean water and natural fertilizer production, utilizes a minimized footprint and lowers waste and wastewater treatment costs and GHG emissions.
This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects Anaergia’s current expectations regarding future events including, but not limited to, the value of the technology supply contract and the development, funding, goals and benefits of the project. Forward-looking information is based on a number of assumptions, including, but not limited to, counterparty contractual performance, the full development and funding of the project, the capability of the Company’s technology and performance with respect to the project objectives, the enforcement of organic waste recycling laws such as SB1383, and the actual diversion of food waste from regional landfills. The Company is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company’s annual information form for the fiscal year ended December 31, 2023, and under "Risks and Uncertainties" in the Company’s most recent management’s discussion and analysis. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws. Additional information on these and other factors that could affect Anaergia’s operations or financial results are included in Anaergia’s reports on file with Canadian regulatory authorities.
