The asset management arm of global banking giant Goldman Sachs has said that it will invest more than €1bn euros in the development of Europe’s biomethane production capacity through its newly created venture, Verdalia Bioenergy.
Having announced the launch of its new business on Monday, Goldman Sachs Asset Management (GSAM) revealed that its investment aims to scale up Europe’s biomethane production capacity over a four-year timescale.
A negative or low carbon natural gas produced through the anaerobic digestion of organic waste, biomethane can be harnessed as an alternative to fossil natural gas without its carbon emissions.
Compatible with existing gas infrastructure, biomethane can also mitigate harmful methane emissions that could otherwise be released into the atmosphere during decomposition of organic waste.
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