12:11 PM EST, 12/10/2024 (MT Newswires) -- Anaergia ( ANRGF ) on Tuesday said it expanded the scope of its activities with Monterey One Water (M1W) in California to operate an organic waste co-digestion facility at M1W's Regional Treatment Plant.

The company's Anaergia Technologies unit will manage the procurement of organic waste and operation of a new food waste receiving station to expand biogas production under the current digester retrofit project. The project will support organic waste diversion compliance under the California landfill diversion law and is supported in part by a grant from CalRecycle.

"This long-term agreement with M1W leverages Anaergia's ( ANRGF ) expertise in organic waste and wastewater co-digestion with renewable energy generation and extends the services Anaergia ( ANRGF ) is providing to this biogas plant owner," chief executive Assaf Onn said in a release.

The company said the expanded services activities are expected to generate more than $3 million in revenue.

The agreement is the company's ninth operations and maintenance contract in the United States. Anaergia ( ANRGF ) said it is now the largest operator of digestion and co-digestion infrastructure in California.

Anaergia ( ANRGF ) shares were last seen up $0.02 to $0.88 on the Toronto Stock Exchange.

Price: 0.88, Change: +0.02, Percent Change: +2.33