11:39 AM EDT, 08/06/2025 (MT Newswires) -- (Updates shares.)

Anaergia ( ANRGF ) on Wednesday said a subsidiary signed a third contract to develop a biomethane production plant in Ostellato, Italy.

The contract was signed with QGM, an entity owned by a partnership between Quercus Real Assets and Elionia. The plant will leverage Anaergia's ( ANRGF ) anaerobic digestion technologies to produce renewable biomethane from agricultural residues.

The facility will process approximately 47,000 tons per year of agricultural biomass and by-products to produce over 4 million cubic meters of methane per year.

The plant is expected to be fully constructed and able to provide renewable biomethane to Italy's gas pipeline grid by mid-2026.

Anaergia's ( ANRGF ) total contracted value for the project exceeds $22 million.

"By adding this third facility to the others previously announced by QGM and Anaergia ( ANRGF ), we are fully on track to pursue our strategy to build a leading biomethane portfolio in Italy over the next years," said Elionia chief executive Danilo Fumarola.

The company's shares were last seen up $0.03 to $1.37 on the Toronto Stock Exchange.

Price: 1.37, Change: +0.03, Percent Change: +2.24