DWS, MEAG partner to acquire German biomethane producer

DWS, a global asset manager, and MEAG, the asset manager of Munich Re and ERGO, have joined forces to acquire Weltec, a biogas and biomethane producer in Germany, they said on October 30.

Weltec, a company based in Vechta, operates five biomethane and four biogas plants across Germany. Under the new ownership, Weltec will embark on an investment plan to increase biomethane production volumes across its portfolio.

These investments include upgrading the four biogas plants to produce biomethane, transitioning the plants’ feedstock mix to sustainable, waste-based sources, in line with circular economy best practices, and installing onsite CO2 liquefaction technology to further reduce Weltec’s carbon footprint.

The acquisition comes at a pivotal time for the European biomethane market, which is expected to experience exponential growth in the coming years. Biomethane production is projected to grow tenfold by 2030, the companies said.