Interim report H1 2023
New product range to meet customer demand
C-Green is now developing three different biorefinery sizes to meet the growing demand from small and medium size wastewater treatment plants (WWTPs): the T1 with an annual capacity of up to 1,000 wet tons, the T5 with an annual capacity of up to 5,000 tons, and the T25, our full-scale plant with an annual capacity of 25,000 wet tons. The T1 will be useful as a marketing tool for early adopter customers who want to validate our technology before investing in a full-scale T25 biorefinery. The T1 will be a mobile unit that can be rented or purchased, while the T5 and T25 will be our main volume products. A T25 will be commissioned during the summer of 2024, in cooperation with the environmental company Ragn-Sells, on their site near Norrköping, Sweden.
Activities in our focus markets during the first and second quarter included a well-attended open-house event at our pilot plant installation at REYM in Rotterdam and successful pilot trials with WWTP & industrial sludge streams from Rotterdam harbor and municipal WWTPs. A recent research cooperation between C-Green and Karlstad University has indicated lucrative synergistic effects on biogas production resulting from our technology. We have initiated further research and have applied for a patent for the process which could potentially substantially improve the future returns from our biorefineries.
Despite the current turbulence on the financial markets, investors continue to show a keen interest in C-Green. We are in dialogue with several investors who, in addition to capital, can offer key industrial competence and provide access to strong networks. We plan to offer a total of EUR 10 million in convertible loans in September. The first closing of about EUR 4 million with an anchor investor is expected to take place during mid-October. The convertible loan issue will be open until the end of 2023, with several closings during the period. The next share issue is planned for the first half of 2024.
C-Green AB
+46 8 93 50 40
info@c-green.se
C-Green is a Swedish clean-tech company with a technology that transforms wet waste into useful products in a cost-efficient and climate smart way. C-Green’s OxyPower HTC biorefinery converts sludge and other wet waste into hydrochar, a dry, sterile, bio-based, carbon-enriched product that can be used as biofuel or as soil improvement. C-Green offer a safe and sustainable wet waste management solution while at the same time simplifying the recovery of nitrogen and phosphorus and increasing biogas production. The global production and handling of sludge is a major contributor to greenhouse gas emissions. Compared with current methods of wet waste handling, as much as 80% of greenhouse gas emissions can be avoided using C-Green’s technology.
