Circular Economy : Kanadevia Inova buys Iona Capital and UK biogas portfolio

Kanadevia Inova, a global leader in energy transition and circular economy solutions, has acquired London-based Iona Capital Limited (ICL), including 11 UK renewable gas plants and a robust global project pipeline.

The acquisition marks a pivotal step for Kanadevia Inova, transitioning the company into plant ownership and management through its Asset Management unit. This move aligns with its vision of becoming a global, vertically integrated green utility, increasing recurrent revenue and supporting its core EPC offerings.

“I’m very pleased to expand the company in a way that strengthens our commitment to a future free of wasted waste and adds further resilience to our business,” said Bruno-Frederic Baudouin, CEO of Kanadevia Inova. “Bringing on board the team and project pipeline of ICL will help us accelerate the adoption of decarbonising technologies in the UK, across Europe and globally.”

Keith Carr, Executive Vice President of Asset Management, commented, “I’m delighted to welcome the ICL team to Kanadevia Inova; their expertise will help us evolve into a more sophisticated and future-proof operation, all the while helping cities and countries meet their net zero goals.”

Nick Ross, Founding Director of ICL, who will join Kanadevia Inova’s Asset Management team, added, “It’s hugely exciting to become part of the team at Kanadevia Inova; we’ve known them for some time and have watched their impressive rise onto the global stage. We look forward to working closely with the team and to accelerate the decarbonisation drive not just in the UK, but right across Europe and in the United States.”

The acquisition doubles Kanadevia Inova’s Renewable Gas portfolio to 18 operating biogas plants, geographically diversified across key target markets. It also includes advanced projects in Europe and the U.S., enhancing the company’s long-term sustainability and market presence.