Kanadevia Inova acquires Iona Capital along with UK biogas portfolio and pipeline of projects globally
Zurich, Switzerland, 07 January 2025 – Kanadevia Inova, a global leader in solutions for the energy transition and circular economy, announces the acquisition of London-based Iona Capital Limited (ICL), along with a portfolio of 11 operational renewable gas plants in the UK and a substantial pipeline of projects throughout Europe, including the Netherlands and Italy, and also the United States.
The landmark acquisition accelerates the evolution of the Kanadevia Inova business beyond Business Development, EPC and plant lifecycle service provider, and into full plant ownership, management, and oversight of Renewable Gas assets through its Asset Management business unit.
Bringing Kanadevia Inova a step closer to its Vision of becoming a global, vertically integrated green utility, the move will increase the share of recurrent revenues within the business, building additional resilience and thus sustainably supporting its core EPC offering.
The deal sees Kanadevia Inova’s Renewable Gas infrastructure and installed capacity more than double to a total of 18 operating biogas plants, geographically well diversified in key target markets. The additional projects, which are advanced in their development, lend longer-term sustainability to the move.
ICL was formed in 2011 to facilitate long-term sustainable investing into primary low-carbon infrastructure projects.
Bruno-Frederic Baudouin, CEOof Kanadevia Inova said: “I’m very pleased to expand the company in a way that strengthens our commitment to a future free of wasted waste and adds further resilience to our business. Bringing on board the team and project pipeline of ICL will help us accelerate the adoption of decarbonising technologies in the UK, across Europe and globally.”
Keith Carr, Executive Vice President Asset Management of Kanadevia Inova said: “I’m delighted to welcome the ICL team to Kanadevia Inova; their expertise will help us evolve into a more sophisticated and future-proof operation, all the while helping cities and countries meet their net zero goals.”
Nick Ross, the Founding Director of ICL said: “It’s hugely exciting to become part of the team at Kanadevia Inova; we’ve known them for some time and have watched their impressive rise onto the global stage. We look forward to working closely with the team and to accelerate the decarbonisation drive not just in the UK, but right across Europe and in the United States.”
Akereos Capital acted as the M&A adviser to Kanadevia Inova.