SEATTLE (Recycling Monster): Private equity investor EQT Infrastructure announced that it has completed acquisition of majority stake in France-based Waga Energy, upon meeting all regulatory conditions. It now holds 56.48% of the shares of the leading renewable natural gas (RNG) project developer.

Following the acquisition, all the outside board members has been replaced by EQT’s own nominees. Asis Echaniz, a partner in EQT’s infrastructure advisory team has replaced Waga CEO and founder Matthieu Lefebvre as the Chairman of the board. However, Matthieu and Waga U.S. director and co-founder Guenael Prince will continue to remain on the board. The management team will continue to remain unchanged.

EQT noted that the acquisition will accelerate Waga’s growth, reinforcing its position as a global renewable natural gas provider. The financial backing will help Waga to enhance its performance in high competition markets, while also addressing its core market of small and medium-sized landfills sites.

Waga uses its proprietary Wagabox RNG technology to purify landfill gas into RNG. The company has been recently shifting focus to North American markets, registering significant market growth in the region, especially in the U.S.