Oil and gas producer Shell is acquiring Nature Energy, a Danish company that makes biogas from agricultural, industrial and household waste, for €1.9 billion.
The acquisition will make Shell the largest European producer of biogas.
Nature Energy, which was owned by a number of investors, has 14 profitable plants, as well as infrastructure and expertise to design, build and operate innovative plants, Shell said. The Danish company also has 30 new projects planned in Europe and North America.
Shell said the purchase fits in with its goal of becoming carbon neutral and also allows it to grow with low-CO2 fuels. It expects the acquisition to be completed early next year and then contribute immediately to its profits.
