07:07 AM EDT, 05/20/2025 (MT Newswires) -- Anaergia ( ANRGF ) on Tuesday said it signed a $7.3 million contract with Capwatt Biomethane Unipessoal to design and construct an advanced facility in central Italy. The facility, which will produce biomethane from agro-industry waste, is expected to be operational by the middle of next year.

The contract follows the letter of intent with Capwatt that was signed earlier this year, for nine projects that are expected to be completed over 30 months. The Italian project is the first of the nine projects, which combined are expected to generate over $60 million in revenue for the company.

"This contract is a key milestone in our relationship with Capwatt, transitioning from the previously announced LOI to initiating the first project under that agreement," said Anaergia ( ANRGF ) Chief Executive Assaf Onn.