Vesper Next Generation Infrastructure Fund finalises the acquisition of BioHold, a leading Italian bioenergy platform.

Vesper Next Generation Infrastructure Fund has agreed to acquire Bio Hold SRL (“BioHold” or the “Company”), a leading biogas and biomethane energy platform in Italy. The investment is being made alongside Pietro Fiorentini S.p.A. (“Fiorentini”), a global engineering and technology firm specialised in solutions for the gas energy supply chain and upgrading of bioenergy plants.

The investment from the Fund enables BioHold to accelerate its biomethane expansion strategy and act as consolidator in the Italian biogas/methane space by leveraging the team and investors’ deep industrial expertise in the bioenergy market.

Vesper Next Generation Infrastructure Fund I SCSp (“Vesper Infrastructure” or the “Fund”) completes its equity investment into BioHold, becoming the joint-controlling shareholder alongside Fiorentini. RRG Nature Based Solutions LLC (“RRG”), an expert in agribusiness supply chain transitions, owned by Renewable Resources Group, Mitsui and S2G Investments, retains an indirect minority interest in the Company.

Established in 2023, BioHold is an Italian biogas and biomethane platform, with a sizeable and highquality portfolio of generating brownfield biogas plants (to be converted to biomethane) and greenfield biomethane agri-feedstock projects. The Company’s current portfolio consists of around 20 owned or contractually secured plants, plus a sizable pipeline of assets under advanced stage of negotiation. The portfolio is expected to be fully converted to biomethane by 2026, with a combined output above 7,000 Smc/h.

Thanks to the support of Fiorentini and RRG, BioHold has identified and currently negotiating a further
pipeline of assets with a potential further capacity of over 2,600 Smc/h.

The unique partnership with Fiorentini and RRG enables BioHold to support and accelerate its value creation strategy by: (i) fast-tracking its biomethane conversion plan; (ii) building its greenfield projects;
and (iii) executing an M&A consolidation strategy in one of the most attractive markets in Europe.

Paola Rastelli, Founder and Partner at Vesper Infrastructure Partners, says “We are excited to be partnering with Fiorentini, RRG and the BioHold management team to support and accelerate their attractive business plan. We are focused on upgrading the existing generating plants and further supporting the development pipeline. We have a keen eye on potential future bolt-on opportunities in the Italian
market that will further provide depth to the portfolio and create a national leader.”

“This is the Fund’s second investment in the bioenergy space, after the successful investment in EAG Bioenergy in October last year, demonstrating the investment team’s ability to identify attractive risk adjusted investment opportunities in Vesper’s target investment themes, whilst retaining strong capital protection features. We see excellent opportunities in this low carbon, circular economy theme, which is supported by material structural tail winds.” says Livio Fenati, Founder and Managing Partner at Vesper Infrastructure Partners.

Cristiano Nardi, Pietro Fiorentini Executive Chairman, says “This partnership represents a significant step forward in our strategic roadmap. With Vesper Infrastructure joining BioHold, we are well-positioned to scale up our biomethane platform and drive long-term value creation. The combination of our respective competences will allow to capture emerging opportunities in the sector and shape a more resilient and integrated energy system for the years to come.”.