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AleAnna Expands Italian Renewable Natural Gas Portfolio With Three Biogas Plants, Generating $270,000 Monthly Revenue, And Securing Government Incentives
The company has completed the acquisition of three biogas plants in Italy
AleAnna has begun generating revenue from plants in Tuscany and Piedmont
The Italian Government has granted capital expenditure reimbursement incentives for construction of AleAnna’s Campagnatico plant project
Dallas, TX and Rome, IT − December 18, 2024 − AleAnna, a leading energy company in Italy, today announced the completion of a series of initiatives through which the Company has expanded or proven out aspects of its renewable natural gas (RNG) business. These include the purchase of majority working interests in three Italian biogas plants, first corporate revenue generation from its plant operations, and demonstration of the Company’s ability to secure Italian Government sponsored capital expenditure reimbursement incentives for the construction of new biomethane plants and similar incentives for the conversion of existing electricity generating biogas plants to biomethane plants.
The Campagnatico project, located in the Tuscany region, is a new-build biomethane plant operated by wholly-owned AleAnna subsidiary, AleAnna Renewables. AleAnna has a 100% working interest and the plant is designed to produce 500 standard cubic meters (Scm) per hour from agricultural waste feedstocks. Construction is underway and is anticipated to be completed in the first quarter of 2026. Total acquisition and construction costs are estimated at $15.3 million, and the Italian Government has awarded capital expenditure reimbursement incentives totaling approximately $5.4 million, which will serve to significantly improve the investment economics of the plant.
The Campopiano plant, also located in Tuscany, is an existing biogas plant producing renewable electricity from agricultural wastes. AleAnna Renewables is the new operator and has a 90% working interest. The plant will be retrofitted with a biomethane upgrader during 2025 after which it is expected to produce 500 Scm per hour of biomethane. Total acquisition and construction costs are estimated at $14.5 million, and the Company anticipates that the retrofitted plant will qualify for Italian Government sponsored capital expenditure reimbursement incentives totaling $3.1 million.
The Casalino plant, located in the Piedmont region, is also an existing biogas plant producing renewable electricity from agricultural waste feedstocks. AleAnna Renewables is the new operator and has a 100% working interest. The plant will be retrofitted with a biomethane upgrader during 2025 after which it is expected to produce 250 Scm per hour of biomethane. Total acquisition and construction costs are estimated at $10.8 million, and AleAnna anticipates that the retrofitted plant will qualify for Italian Government capital expenditure reimbursement incentives totaling approximately $2.8 million.
The Campopiano and Casalino plants generate sales revenue of approximately $0.2 million and $0.1 million per month, respectively, for combined initial AleAnna corporate revenues of approximately $0.3 million per month.
Management Commentary
Marco Brun, AleAnna’s Chief Executive Officer, commented: “We are thrilled with the early success of our RNG business, and with the quality of the three plant acquisitions. As a leader in the Italian green energy industry with a large backlog of future plant acquisition targets, and a proven and industry-leading management team, we hope to continue growing our RNG business.”
About AleAnna
AleAnna is a technology-driven energy company leveraging advanced technologies to optimize reservoir performance and expand its renewable natural gas (RNG) portfolio. AleAnna has over 140,000 acres of owned 3D seismic data to unlock Italy's natural gas reserves, supporting Europe’s sustainability and energy security goals. Centered in the Po Valley, AleAnna has $70 million (PV10) of Proved Reserves; $90 million (PV10) of Probable Reserves; and $115 million (PV10) of Possible Reserves. Moreover, 18 additional prospects have a mean estimate of .220 Tcf Prospective Resources. AleAnna’s total oil and gas holdings exceed 2.7 million acres (including approximately 400,000 acres of licenses currently under suspension due to the Pitesai, whose formal repeal is pending. AleAnna’s holdings include one production concession covering 6,600 acres, 15 applications (which can be converted to licenses at AleAnna’s request) encompassing 1.8 million acres, and 13 permits totaling 940,000 acres. AleAnna owns 33.5% of Longanesi, Italy’s most significant onshore natural gas discovery in over two decades. With three major Po Valley discoveries already made and fourteen natural gas projects planned this decade, AleAnna plays a pivotal role in Italy’s energy transition. The Po Valley's extensive infrastructure, featuring 33,000 kilometers of gas pipelines, three major storage facilities, and over 60% of Italy’s RNG facilities, aligns with AleAnna’s commitment to sustainability. AleAnna’s RNG portfolio includes over 100 projects representing approximately €1.1 billion investment and potential investment, including three operational projects; 8 projects in negotiation with €80 million potential investment; 9 projects in due diligence with €100 million potential investment; 7 projects in advanced evaluation with €90 million potential investment; and 73 projects in early evaluation with €770 million potential investment. AleAnna operates regional headquarters in Dallas, Texas, and Rome, Italy.
Forward-Looking Statements
The information included herein contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements, other than statements of present or historical fact included herein, regarding the Business Combination, the anticipated benefits of the Business Combination, AleAnna’s future financial performance following the Business Combination, as well as AleAnna’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements. However, not all forward-looking statements contain such identifying words. These forward-looking statements are based on AleAnna management’s current expectations and assumptions about future events. They are based on current information about the outcome and timing of future events. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. AleAnna cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of AleAnna. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the ability to recognize the anticipated benefits of the Business Combination and any transactions contemplated thereby, which may be affected by, among other things, competition, the ability of AleAnna to grow and manage growth profitably and retain its management and key employees; AleAnna’s need for additional capital to execute its business plan and support its anticipated growth; costs related to the Business Combination; the risks associated with the growth of AleAnna’s business and the timing of expected business milestones; AleAnna’s ability to identify, develop and operate new projects; the reduction or elimination of government economic incentives to the natural gas market; delays in acquisition, financing, construction and development of new projects; decline in public acceptance and support of renewable energy development and projects; the ability to obtain necessary regulatory and governmental permits and approvals; uncertainty regarding the EU’s clean energy transition, including existing regulations and changes to regulations and policies that affect AleAnna’s operations; the ability to maintain the listing of AleAnna’s securities on a national securities exchange; and the effects of competition on AleAnna’s future business. These forward-looking statements involve significant risks and uncertainties, and should one or more of the risks or uncertainties described herein and in any statements made in connection in addition to these occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. There may be additional risks that AleAnna does not know or that AleAnna currently believes are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact AleAnna’s expectations and projections can be found in filings it makes with the SEC, including the definitive proxy statement/prospectus filed by Swiftmerge and AleAnna Energy with the SEC on November 21, 2024, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by AleAnna. SEC filings are available on the SEC’s website at www.sec.gov.
Investor Relations Contact
Bill Dirks
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