News

Vienna, 19th of May 2010

Acquisition of Two Additional Biomass Power Plants Push Cycleenergy’s Capacity to 70MW

After acquiring biomass plant Bionergie Gaishorn in December 2009, Cycleenergy Beteiligungs- und Management AG last week purchased Fuchsluger Biokraftwerke which operates biomass plants with a capacity of more than 27 MW. These two acquisitions position Cycleenergy as the fastest growing biomass power plant developer and operator in Austria.

Fuchsluger Biokraftwerke operates two biomass power plants in Aschbach and Waidhofen/Ybbs (Lower Austria), which are located in between Cycleenergy’s existing four biomass power plants. Both plants have long term take-off contracts for both electricity and heat and qualify for Austria’s highest possible guaranteed green-tariff.

Former owners Fuchsluger GmbH, who are also active in the market for wood disposal and logistics, and Cycleenergy agreed on long term raw material supply contracts for both biomass power plants forging an optimum trade-off between these specialist companies.

“By closing this acquisition, we expanded our independent renewable energy group from four to six assets. Beyond that, the logistics and raw material expertise of Fuchsluger GmbH opens up scope for synergies for the entire industry group. Further acquisitions of biomass power plants will strengthen our independence in the market for renewable energy,” said Dr. Christoph Haimberger, Director Corporate Finance and responsible for M&A at Cycleenergy AG.  

“The acquisition of these two biomass power plants is the beginning of extensive cooperation between the family business Fuchsluger and Cycleenergy,” adds Florian Vitus Dietz, CEO of Cycleenergy. “Together with Fuchsluger we will realize a more efficient usage of Austrian wood resources. International and national investors have invested in Cycleenergy and are achieving attractive returns. Several other international financiers are presently interested in investing into Cycleenergy”.

Cycleenergy was founded by the Corporate Finance Boutique Ventacc in 2006 and operates biomass combined heat and power plants based on state guaranteed fixed feed in tariffs and long term heat supply contracts. In 2007 and 2009 international private equity funds invested in Cycleenergy.

In 2009 CEAG doubled its production capacity to 10MW electric and now supplies more than 50,000 households with approximately 70,000 kWh of green electricity annually, generated by firing wood waste from forestry. The heat produced is being delivered to neighbouring heat grids and industrial units. In total, more than 110,000 tons of CO2 emissions were avoided in 2009.