Entrade Energiesysteme takes over Agnion Energy

(SeeNews) – May 29, 2013 - German wood-to-energy firm Entrade Energiesysteme AG acquired all shares of German waste-to-synthetic gas (syngas) firm Agnion Energy Inc in May 2013 for an undisclosed price, Entrade said Wednesday.

Entrade Group purchased the shares from investment firms Kleiner Perkins Caufield & Byers, Wellington Partners Verwaltungs GmbH, Munich Venture Partners as well as Waste Management Inc (NYSE:WM). The partners invested nearly EUR 35 million (USD 44.96m) into Agnion.

Entrade manager Julien Uhlig said that his company will profit from the technology transfer with Agnion. He also sees synergies for Entrade's power plant technology.

(EUR 1=USD 1.285)

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