The anaerobic digestion industry in Benelux is crucial for transforming organic waste into sustainable energy. Companies in this field focus mainly on converting agricultural, industrial, and municipal waste into biogas, a renewable energy source. Besides offering innovative solutions for waste management, these enterprises contribute to reducing greenhouse gas emissions and supporting circular economies. Noteworthy advancements, such as integrating digestate into fertilizer production, show the sector's commitment to sustainability. With increasing regulatory support and growing awareness of renewable energy benefits, the industry is poised for significant growth and technological advancements in the coming years.


In 2024, a mix of investors fueled the anaerobic digestion sector in Benelux, with 12 notable organizations backing innovation. Ranging from venture capital firms like InnoEnergy to corporate entities like the European Innovation Council, these investors bring various financial strengths and strategic insights. Headquartered mainly in Belgium and the Netherlands, they represent small to mid-sized operations, typically formed in the last two decades. Collectively, these investors participated in 118 transactions, illustrating a robust interest in sustainable energy solutions, reflecting their engagement with expanding this impactful industry.


Top 12 Anaerobic Digestion Investors in Benelux


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, founded in 1958, that supports innovation and entrepreneurship across Europe. It offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has been involved in funding companies like Electrochaea, which raised over $20 million in a venture round and received a grant of over $2.7 million, focusing on innovative solutions for energy production from waste. Additionally, FimusKraft, another recipient of EIC funding, raised funds through both venture rounds and grants, indicating a focus on sustainable technologies. The EIC's support for TreaTech, which is engaged in circular waste treatment, further highlights its commitment to advancing technologies that can intersect with anaerobic digestion processes.


2. InnoEnergy

  • Website: innoenergy.com
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 52
  • LinkedIn: innoenergy

EIT InnoEnergy is a not-for-profit organization founded in 2010, based in Eindhoven, North Brabant, Netherlands, dedicated to accelerating sustainable energy innovations. It serves as a marketplace for energy solutions, offering training programs and support for innovators and corporates in the energy sector. InnoEnergy collaborates with various stakeholders to tackle the challenges of energy transition and sustainability. Notably, InnoEnergy has been involved in several relevant transactions, including a Series A investment in Ingelia, a company specializing in anaerobic digestion technology, and a seed investment in Naoden, which focuses on waste-to-energy technology. These investments highlight InnoEnergy's commitment to supporting innovations that contribute to sustainable energy solutions, including anaerobic digestion.


3. Invest-NL

  • Website: invest-nl.nl
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2020
  • Headcount: 51-200
  • Number of deals in 2024: 17
  • LinkedIn: invest-nl

Invest-NL is an impact investment firm based in Amsterdam, North Holland, founded in 2020. They focus on financing sustainable and innovative projects in the Netherlands, supporting entrepreneurs with promising plans for societal transitions, particularly in the energy and technology sectors. In 2024, Invest-NL participated in several notable transactions, including a €14 million investment in Paques Biomaterials, which aims to produce biopolymers as a natural alternative to plastic, and a €13 million investment in Pryme N.V., which is working to combat plastic waste through pyrolysis. These investments reflect Invest-NL's commitment to sustainability and innovation, aligning with the goals of the anaerobic digestion industry.


4. EDFI ElectriFI - The Electrification Financing Initiative


EDFI ElectriFI - The Electrification Financing Initiative is a not-for-profit impact investment facility based in Belgium, established in 2016. It focuses on financing renewable energy projects in developing countries, providing both equity and debt financing along with technical assistance to enhance access to clean energy. Notably, EDFI ElectriFI has been involved in several transactions relevant to the anaerobic digestion sector, particularly with Sistema.bio, which raised $15 million in a venture round in October 2024 and previously secured $12 million in a Series A round in 2019. Sistema.bio specializes in developing affordable bio-gas equipment tailored for small and remote farms, aiming to deliver clean energy solutions to farmers. This investment aligns with EDFI ElectriFI's mission to support sustainable energy solutions in underserved areas. Additionally, they have provided debt financing to Husk Power Systems for solar hybrid microgrids, showcasing their broader commitment to renewable energy solutions.


5. SHIFT Invest

  • Website: shiftinvest.com
  • Type: Venture Capital
  • Headquarters: Amstelveen, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: shift-invest

SHIFT Invest is a venture capital fund based in Amstelveen, North Holland, Netherlands, founded in 2009. The firm specializes in impact investing, targeting innovative enterprises with significant potential for environmental impact. They provide funding and support to early-stage companies across various sectors, including energy transition, smart food & agriculture, and sustainable mobility. Notably, SHIFT Invest has been involved in several transactions relevant to anaerobic digestion, such as their investments in ChainCraft, which focuses on converting organic waste into valuable products, and Vertoro, which develops bio-based technologies. These investments reflect SHIFT Invest's commitment to sustainability and their strategic interest in companies that contribute to the energy transition and waste management solutions.


6. Triodos Bank

  • Website: triodos.com
  • Type: Venture Capital
  • Headquarters: Driebergen-Rijsenburg, Utrecht, Netherlands
  • Founded year: 1980
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: triodos-bank

Triodos Bank N.V. is a public entity operating as an ethical bank focused on sustainable finance. Founded in 1980 and based in Driebergen-Rijsenburg, Utrecht, Netherlands, Triodos Bank offers services such as depository receipts, green bonds, and investment management, catering to individuals and businesses seeking to align their financial activities with ethical and sustainable practices. The bank operates in multiple European countries, promoting transparency and positive impact in the banking sector. Notably, Triodos Bank has invested in Sistema.bio, which raised $12 million in a Series A funding round to develop affordable bio-gas equipment for small farms, enhancing their environmental sustainability. This investment highlights Triodos Bank's commitment to supporting innovative solutions in the renewable energy sector, particularly those related to anaerobic digestion. Additionally, their involvement in other sustainable ventures, such as Tipa and Powergen Renewable Energy, further demonstrates their focus on promoting sustainable practices across various industries.


7. Marguerite


Marguerite is an infrastructure investment firm based in Luxembourg, founded in 2010, specializing in sustainable investments across Europe. The firm focuses on funding initiatives that address climate change and promote economic growth through renewable energy and infrastructure projects. Notably, Marguerite II, a European infrastructure fund, acquired a majority stake in Keon S.A., a French industrial group dedicated to the biogas value chain, which highlights their commitment to anaerobic digestion and biomethane projects. Furthermore, Marguerite has participated in various renewable energy projects, including the Vinca waste-to-energy facility in Serbia, which, while not exclusively anaerobic digestion, demonstrates their involvement in waste management and energy recovery initiatives. Their clients include institutional investors seeking to align their portfolios with environmental and social governance principles, reinforcing their role as a key player in the sustainable investment landscape.


8. Pdenh


Participatiefonds Duurzame Economie Noord-Holland (PDENH) is a not-for-profit organization based in Haarlem, North Holland, founded in 2014. It focuses on promoting sustainable economic development by investing in innovative projects and providing financing and advisory services to companies that contribute to a sustainable and circular economy. PDENH collaborates with various partners to stimulate sustainable business activities in the region. Among their notable transactions, PDENH participated in a funding round for ChainCraft, a Dutch scale-up that raised EUR 11 million to develop an industrial-scale plant for converting organic waste into valuable products, which is directly relevant to anaerobic digestion. This involvement highlights PDENH's commitment to supporting projects that align with sustainable practices and the circular economy.


9. Astanor

  • Website: astanor.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: astanor-venture

Astanor is an impact investment firm based in Luxembourg, founded in 2017, that focuses on the agrifood tech sector. They support innovative companies aiming to create sustainable food systems through strategic guidance and investment. Astanor has been involved in several notable transactions, including a significant investment in Digestiva, which raised $18.4 million in Series A funding in July 2024, indicating their commitment to supporting companies that may contribute to sustainable waste management solutions. Additionally, their investment in Mi Terro, a company that processes agricultural waste into proteins, highlights their interest in innovative approaches to waste reduction and sustainability. Astanor's portfolio reflects a dedication to driving growth and sustainability in the agrifood sector, making them a relevant player in the context of anaerobic digestion.


10. Brightlands Venture Partners


Brightlands Venture Partners is a venture capital firm based in Geleen, Limburg, Netherlands, founded in 2004. The firm specializes in investing in innovative startups that focus on health and sustainability, providing both venture capital and advisory services to help these startups tackle complex societal challenges. In recent years, Brightlands has made several notable investments that align with sustainability goals. For instance, they led a funding round for Fuenix, which is focused on scaling up production to contribute to a circular economy, and invested in Greencovery, a startup aimed at reducing food waste in the food industry. Additionally, their investment in Black Bear Carbon, which is involved in sustainable carbon recycling, showcases their commitment to sustainability. These transactions highlight Brightlands Venture Partners' active role in supporting innovative solutions that could intersect with anaerobic digestion technologies.


11. Icos Capital


Icos Capital is a venture capital firm based in Rotterdam, South Holland, Netherlands, founded in 2005. The firm specializes in ClimateTech investments, partnering with startups and corporations to accelerate sustainability through innovative technologies. Their investment focus includes sectors such as Food Systems and Circular Economy, which are critical for achieving significant reductions in greenhouse gas emissions. Notable transactions include their investment in CarbonOrO, which is working on lowering emissions from the waste-to-energy and steel industries, and capturing carbon dioxide from industrial processes. This aligns with the principles of anaerobic digestion, which also seeks to manage waste and reduce emissions. Additionally, their investment in NapiFeryn BioTech, which develops technology for obtaining protein from side-streams, reflects their interest in sustainable practices that could intersect with anaerobic digestion processes. Overall, Icos Capital's portfolio demonstrates a commitment to sustainability and innovative technologies that can support the anaerobic digestion industry.


12. Convent Capital

  • Website: conventcapital.nl
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2011
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: convent-capital

Convent Capital is a venture capital firm based in Amsterdam, Netherlands, specializing in sustainable investments and growth capital for small to medium-sized enterprises in the Benelux region. Founded in 2011, the firm focuses on innovative companies within the AgriFood sector, aiming to enhance sustainability efforts and support growth. Notably, Convent Capital has been involved in significant transactions related to anaerobic digestion, including their lead investment in ChainCraft, which raised EUR 11 million to develop an industrial scale plant for anaerobic digestion processes. This investment highlights their commitment to supporting technologies that contribute to sustainable energy solutions. Additionally, Convent Capital acquired Convertus, further indicating their interest in companies that align with sustainable practices.



Anaerobic Digestion Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
InnoEnergyEindhoven, North Brabant, Netherlands201-500201052
Invest-NLAmsterdam, North Holland, Netherlands51-200202017
EDFI ElectriFI - The Electrification Financing InitiativeBelgium11-5020162
SHIFT InvestAmstelveen, North Holland, Netherlands11-5020094
Triodos BankDriebergen-Rijsenburg, Utrecht, Netherlands1001-500019802
MargueriteLuxembourg11-5020100
PdenhHaarlem, North Holland, Netherlands1-1020142
AstanorLuxembourg11-50201710
Brightlands Venture PartnersGeleen, Limburg, Netherlands11-5020044
Icos CapitalRotterdam, South Holland, Netherlands11-5020054
Convent CapitalAmsterdam, North Holland, Netherlands1-1020112


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