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Zenith Energy Signs Binding LoI to Buy Biogas Project in Italy

MT Newswires·07/20/2026 05:40:34
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05:40 AM EDT, 07/20/2026 (MT Newswires) -- Zenith Energy (ZEN.L, ZENA.OL) said Monday it signed a binding letter of intent and exclusivity to purchase a company with the rights to develop a biogas production facility in Italy. The energy company will pay up to 1.6 million euros for the construction-ready project, which comprises a plant that will produce 3 million cubic meters of methane per year. Zenith expects to secure project financing by the end of the third quarter of 2026, allowing the group to complete the acquisition in the fourth quarter of 2026 and start operating the facility in the third quarter of 2027.