Scandinavian Biogas Fuels International has announced a directed share issue and a rights issue in a bid to secure financing for ongoing investments.
Scandinavian Biogas Fuels International, one of Sweden’s largest private producers of vehicle-grade biomethane has announced a directed share issue of approximately SEK 43 million (≈EUR 4.47 million) and a rights issue of approximately SEK 23 million (≈EUR 2.39 million).
According to a statement, the company has received subscription commitments corresponding to 97 percent of the Rights Issue. The proceeds from the Rights Issue are primarily intended to finance ongoing investments and to improve liquidity. The company currently has projects and operations in the Nordics and South Korea.