Waga Energy cites North America as growth market

Waga Energy, a landfill gas-to-energy technology provider based in France, has called 2022 a year of “strong growth in renewable natural gas (RNG) production and revenue,” and points to projects in Canada and the United States as key milestones.

The company has reported consolidated revenue of 19.2 million euros ($21.2 million) in 2022, with 79 percent of that generated from sales of RNG and purification services invoiced to landfill operators.

Waga had 14 of its Wagabox units in operation at the end of last year and, combined, they injected 216 gigawatt hours (GWh) of RNG into gas grids last year. The company says that figure is up buy 49 percent, “thanks to average uptime of over 95 percent and the successful commissioning of four new units, including one large-capacity unit producing five times more than the previous ones, a major asset in addressing international markets.”

The firm says its 2022 revenue also includes percentage-of-completion revenue recognized on the sale of two cryogenic distillation modules to Air Liquide in the United States, and a Wagabox unit to the Capital Regional District to equip the Hartland landfill on Vancouver Island in British Columbia, Canada.

“The substantial and lasting increase in the commercial value of RNG in the wake of the 2022 energy crisis provides Waga Energy with an opportunity to accelerate the rollout of its solution in support of the energy transition,” Waga Energy CEO Mathieu Lefebvre says.

“Thanks to the structuring and organizational work carried out by our teams in recent months, the group is now ideally placed to become a world leader in landfill gas upgrading into RNG. The year 2023 will be marked by the commissioning of the first international units. The current climate emergency has strengthened our determination to make a robust and rapid contribution to reducing greenhouse gas emissions.”

Waga Energy currently estimates annual contractual and recurring revenue based on signed projects and projects in operation at around 46 million euros ($50.8 million), compared to 40 million euros ($44.2 million) one year ago.

In addition to 14 Wagabox units operating in France, with an installed capacity of 415 GWh per year, the firm says 15 more units are under construction, representing an additional installed capacity of 650 GWh per year. Once operational, the 29 units will offer a total installed capacity of over 1 terawatt hour (TWh) per year.