09:50 AM EDT, 09/02/2025 (MT Newswires) -- Anaergia ( ANRGF ) was up 4% and at 52 week highs on Tuesday as it signed a new agreement with a unit of Bioenerys, through its own unit, Anaergia S.r.l.

The company in a statement said it "will significantly enlarge and enhance" Bioenerys' anaerobic digestion facility in Ariano nel Polesine, which is in northern Italy, through the deal. It added the Ariano nel Polesine project will increase processing capacity for agricultural residues and "more than double" the volume of biomethane injected into the grid.

The Ariano nel Polesine upgrade is anticipated to generate about $11 million in revenue for Anaergia ( ANRGF ) and is expected to be completed by the end of 2026.

"Anaergia's ( ANRGF ) proven technology is now to be utilized in two different plants of Bioenerys," said Chief Executive of Bioenerys' Agricultural Residues division Andrea Sgorbini.

Shares of the company were last seen up 4% at $2.55 on the Toronto Stock Exchange.

Price: 2.50, Change: +0.05, Percent Change: +2.04