ASN Energy & Innovation Fund finances growth of residual gas supplier Powercrumbs - StartGreen guides growth path with customised financing.

March 6, 2025

ASN Energy & Innovation Fund, in which StartGreen Capital acts as investment advisor, has provided a multi-million dollar loan to Powercrumbs, an innovative company that converts unused biogas into clean energy for construction. The financing will allow Powercrumbs to expand the number of filling stations from four to 20 and thus scale up the supply of renewable energy nationwide.

ASN Energy & Innovation Fund provided debt financing to Arnhem-based biogas supplier Powercrumbs, with StartGreen Capital acting as the fund's investment adviser. Powercrumbs also received an additional capital injection from its existing investor Unknown Group at the same time.

About Powercrumbs and its growth plans.

Powercrumbs, founded in 2019, developed a patented technology to compress biogas produced from the fermentation of residues and make it suitable as a renewable fuel. Biogas producers such as water treatment plants can thus utilise all the biogas. Unnecessary flaring is thus a thing of the past. Powercrumbs delivers the biogas to construction sites, where gas generators generate clean electricity for digging and other machines. In this way, Powercrumbs provides the practical solution for nitrogen-sensitive areas and places where grid congestion is an issue.

Powercrumbs has successfully developed its technology in recent years in cooperation with partners such as Waterschap Vallei en Veluwe, Buse Gas, GMB and Bredenoord. The company currently has four filling stations and aims to grow to 20 locations in the next 2.5 years. The scale-up also includes the development of a green gas plant that can reprocess residual gas for delivery to the natural gas grid. This expansion of its infrastructure will enable Powercrumbs to deliver consistently and on a larger scale.

Rosemarijn van der Meij, fund manager ASN Energy & Innovation Fund:

"This investment fits perfectly with our strategy to support innovative companies offering concrete solutions for the next phase of the energy transition in the Netherlands. Powercrumbs combats the waste of biogas and contributes to the electrification of construction sites in places without grid connection."

Pieter Mans, founder Powercrumbs:

"ASN Impact Investors and its impact advisor StartGreen understand exactly where our business is. They have a feel for what we are doing and see that we are ready for the next phase of growth. Scaling up to twenty locations will give us national coverage and enable us to supply the gas we capture locally everywhere locally. In doing so, we will realise a sustainable and competitive alternative to diesel."

StartGreen's role: customised financing for sustainable growth.

Through the ASN Energy & Innovation Fund, StartGreen offers financing solutions that contribute to both innovative and proven technologies essential for the next phase of the energy transition and circular economy. Entrepreneurs and project developers can count on a suitable financing solution with both debt and subordinated capital. StartGreen offers customised solutions by expertly structuring these forms of financing, tailored to the growth and impact goals of the company or project.

StartGreen recently became an investment advisor to ASN Impact Investors. It sourced this deal and guided Powercrumbs in setting up a long-term funding strategy to achieve lasting impact.

Jakoba van der Mei, Investment Director StartGreen Capital: "Together with the entrepreneur, we constructed a growth path, developing a tailor-made financing solution to match Powercrumbs' scale-up ambitions. We are happy and proud to have mentored such a great innovation and look forward to following the scale-up."

About the ASN Energy & Innovation Fund.

ASN Energie & Innovatiefonds, with a portfolio of several hundred million, invests in a wide variety of technologies that are essential for the next phase of energy transition, such as energy storage, charging infrastructure, circular production, sustainable mobility and energy-efficient buildings. Previously, under the name ASN Groenprojectenfonds, the fund invested mainly in solar and wind projects.

More information on this fund can be found at the fund page.

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