Schmack Biogas, a German builder and operator of biogas plants, has floated on the Frankfurt Stock Exchange with a market capitalisation of €71.3m. The company is backed by S-Refit, a Bavarian technology investor that invested in 2001 and 2004, and Sustainable Asset Management (SAM), the Swiss asset manager that invested in July 2005. The shares were priced at €33, in the upper end of the offer range of €28 to €34.
Schmack Biogas was founded in 1995, and it develops and sells turnkey biogas plants that convert agricultural biomass and renewable feedstocks into a methane rich gas. This gas can be used to either produce heat and power directly or can be upgraded to natural gas quality standards and fed into local and regional natural gas pipelines.
The company has built 145 plants with a combined nominal output of 28.9 MW, and a further 57 plants are planned, and another 11 biogas plants are already in the construction phase.