11:41 AM EDT, 10/21/2024 (MT Newswires) -- Anaergia ( ANRGF ) on Monday said its Anaergia Technologies unit signed an equipment supply contract with the city of Riverside, California, to aid in renewable natural gas (RNG) production.

Under the $13.3-million contract, Anaergia Technologies will install infrastructure at the Riverside Water Quality Control Plant to allow receipt of organic municipal waste from local solid waste collection companies. The waste will be diverted from landfills and sent to anaerobic digesters to the plant to be converted into RNG.

The contract is supported by the California Department of Resources Recycling and Recovery to accelerate the growth of the state's organic waste recycling infrastructure.

Under a separate contract with Riverside, Anaergia Technologies is also upgrading the Riverside Water Quality Control Plant's anaerobic digestion system.

"This project continues Anaergia's ( ANRGF ) successful and repeatable model of retrofitting municipal wastewater treatment plants with our technology that leverages growing RNG demand backed by government incentives," said Anaergia ( ANRGF ) chief executive Assaf Onn.

The company's shares were last seen down $0.04 to $0.93 on the Toronto Stock Exchange.

Price: 0.93, Change: -0.04, Percent Change: -4.12