Blue Sphere acquires biogas facilities in Italy

Blue Sphere Corp. (Charlotte, NC), a developer of facilities for generating electricity from organic waste-derived biogas, announced that it has acquired four operational biogas production facilities in Italy from Kinexia, an Italian public company. At the same time, Blue Sphere said that it has established Blue Sphere Italy S.r.l. as a wholly owned subsidiary to manage all future acquisitions in Italy. Blue Sphere noted that it anticipates the acquisition of 13 more biogas production facilities in Italy in the future. The company noted that the acquisition of the four facilities, each of which produces 1 MW of biogas, will contribute $9.8 million in revenue annually. Citing data compiled by SBI Energy, Blue Sphere said that the thermal and biological segments of the global waste-to-energy market generated a combined $6 billion in revenue in 2012, a figure that is projected to reach $29 billion by 2022.