Generate Capital secured C$60 million in financing from Fiera Infrastructure Private Debt for Upcycle’s North American RNG portfolio, marking an important milestone in the food-waste RNG sector.

Information on the Target

Generate Upcycle, a subsidiary of Generate Capital, focuses on renewable natural gas (RNG) production through anaerobic digestion (AD) of organic waste. The company operates a portfolio that includes five upgraded RNG assets located in Ontario, Canada, and Upstate New York. Once fully operational, these assets are projected to provide around 1 million gigajoules (GJ) of RNG annually. This financing marks the inaugural funding specifically for food-waste RNG within Generate's portfolio, highlighting a significant step in their growth trajectory.

Generate Upcycle's operations are dedicated to providing integrated waste solutions, serving both public and private sector partners across North America and the United Kingdom. Their facilities process a substantial amount of food waste, totaling approximately 400,000 tons each year, while also contributing to renewable electricity generation alongside RNG production.

Industry Overview in the Target’s Specific Country

North America's renewable natural gas industry is experiencing rapid growth, driven largely by increased demand for sustainable energy solutions and stringent regulatory frameworks aimed at reducing greenhouse gas emissions. Anaerobic digestion technology, particularly for