Scandinavian Biogas defines long term target for 2030 – 3 TWh biogas production, mainly Bio-LNG

Scandinavian Biogas Fuels International AB (SBF) defines its long-term growth target. The European biogas market is experiencing a paradigm shift and developing very fast especially in the Bio-LNG (liquid biogas) market. Clear evidence has been already seen for fast demand growth in the heavy transportation market segment. Maritime and industrial usage expected to follow as well.

The market for heavy transportation vehicles is expected to grow from 2.800 to 280.000 vehicles in 2020s (source: NGVA), customer segment demanding substantial share of energy to be Bio-LNG. For the same period the biogas and Bio-LNG production is expected to grow in Europe from 191 TWh to 467 TWh (source: European Commission/EBA). Scandinavian Biogas expects substantial part of the growth to be in Bio-LNG.

Given the very attractive industrial outlook for biogas, SBF has decided as a long-term target to reach an annual biogas production capacity in Europe by 2030, on a level of 3 TWh biogas, mainly Bio-LNG. Based on the earlier communicated business plan the financial goal by 2024 to reach at least 700 GWh annual capacity is unchanged.

The targeted growth will be based on organic development as well as acquisitions. In the first phase the investments will be made in Northern and Central Europe. In order to enhance growth, a dedicated Group level function has been established focusing on Growth opportunities, in February 2022.

The current opportunity pipeline with potential growth projects and opportunities is very well aligned with the new 2030 production target to reach annual 3 TWh biogas and BIO-LNG production.

This information is such that Scandinavian Biogas Fuels International AB (publ) is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted, according to the contact persons, for publication on Thursday, February 17, 2022 at 07.30 (CET

For further information, please contact:
Matti Vikkula CEO and President
Mobile +46 (0) 70 597 99 38
E mail matti.vikkula(at)scandinavianbiogas.com

Scandinavian Biogas is a leading Nordic producer of biogas as a vehicle fuel and also fertilizer. The biogas, which is CO2-neutral, is extracted from sewage sludge and waste from households and agriculture, as well as industrial organic waste. Today, there are facilities in Sweden, Norway and South Korea. In 2020, the company delivered 354 GWh to the market. Scandinavian Biogas has 92 employees and in 2020 had total sales of SEK 455 million (pro forma). The head office is located in Stockholm and the company is listed on Nasdaq Stockholm First North Premier, the Company's Certified Adviser is Erik Penser Bank AB, telephone: +46 (0) 8-463 80 00, certifiedadviser(at)penser.se. www.scandinavianbiogas.com

• Pressmeddelande – Outlook ENG 220217 FINAL