Aneo has signed an agreement to sell its 26.3% ownership stake in Daytona Holdco AS, which owns 50% of St1 Biokraft. After 15 years as an owner and driving force in the development of Norway’s biogas industry, now is the right time for Aneo to move on.
When TrønderEnergi, now one of the owner companies in Aneo, invested in Biokraft in 2010, there was a lot of uncertainty. Would biogas become a commercial reality in Norway? Could a profitable industry actually be built around it?
– We took a risk on something we believed in. The journey has been demanding, but it shows what long-term ownership and patient capital can create, says Håkon Welde, Head of M&A at Aneo.
From startup to Nordic player
For more than a decade, Aneo and TrønderEnergi have helped build biogas as an industry in Norway and the Nordics – from the first facilities, through stock exchange listing, to consolidation and further growth together with strong partners such as HitecVision and St1.
After Aneo was established in 2022, ownership was continued through Daytona Holdco AS. Together with co-owners, they succeeded in consolidating ownership in Biokraft, taking the company private, and laying the foundation for more long-term industrial development.
Time to realize value
– This is a natural time for us to sell. We have helped build St1 Biokraft from an early-stage company into a leading Nordic player. The ownership has created strong value over time, and the company is now very well positioned for continued growth with new long-term owners, says Welde.
For Aneo, the sale is about prioritizing capital where the group can have the greatest strategic impact going forward. As a growth company, Aneo continuously invests in power production in the Nordics.
Real emissions cuts
– We took the chance when few believed in biogas as an industry. Now we see the result: St1 Biokraft cuts emissions equivalent to around 100,000 cars annually, and the company is well positioned for further growth - a growth journey we will follow and cheer on from the sidelines, says Gunnar Hovland, CEO of Aneo.
St1 Biokraft's expected production in 2026 corresponds to annual emissions reductions of 180–230,000 tonnes of CO₂, comparable to emissions from around 90–120,000 passenger cars.
Aneo thanks its partners and co-owners for close and trust-based collaboration, and wishes the new owners every success in the continued development of St1 Biokraft.
The sale is subject to approval under foreign direct investment (FDI) regulations in Sweden.
