Insights

• The transaction marks Proterra Asia’s first direct exposure to biofuel
• Apeiron Bioenergy will leverage Proterra Asia’s strength in food-agriculture, natural resource sectors and renewable feedstock
• Aperion Bioenergy is already one of the leading players in the Used Cooking Oil (UCO) collectors market in Asia

SINGAPORE / LONDON, November 2022 – Proterra Asia, the Asian arm of experienced global food and agribusiness private equity fund manager Proterra Investment Partners, has completed its investment in Apeiron Bioenergy, a recognized integrated global player in the entire chain of bioenergy products from feedstock to the end and by-products. A leading integrated player and solutions provider in the bioenergy space, Apeiron Bioenergy, collects and processes a range of renewable feedstocks including used cooking oil (UCO), palm oil mill effluent (POME) and acts as a critical exporter across an ever-expanding Asian market. Aperion Bioenergy has stated its mission is to reduce the reliance on fossil fuels and accelerate the growth of green energy.

The investment was made via the Proterra Asia Food Strategy, which seeks to capitalise on the accelerating consumer demand that comes with growing urban populations and the emergence of a new generation of consumers across Asia, looking for safe, high quality food products with a focus on health, nutrition, convenience, social impact and sustainability. The proceeds will be used by Aperion to increase the number of collection points and upgrade existing processing plants to produce feedstocks of higher specifications. “Together with Apeiron, we can help organize and upcycle food waste streams across Asia and in the process support advanced biofuel development globally,” said Tai Lin, Managing Partner of Proterra Asia. “This investment will open up collaboration opportunities for our food and farming portfolio and create some of the positive impacts that everyone is talking about.”

Proterra Asia will build further avenues for strategic collaboration with Aperion Bioenergy, who will benefit from leveraging Proterra Asia’s food and agricultural investment management expertise and upstream connections to help fast-track growth.

“Considering the extremely tough macro environment now, it is a big testament for Apeiron Bioenergy to weather such conditions and successfully fundraise,” said Chris Chen, Co-founder at Apeiron Bioenergy. “Investors believe in our business fundamentals and our vision for decarbonization. We look forward to increasing collection of used cooking oil to make an even stronger environmental and social impact.”

Apeiron Bioenergy has also recently closed a separate equity financing round from Mitsui Chemicals. Both investments are set to position Apeiron Bioenergy for exponential growth amidst growing demand for renewable feedstock for advanced biofuels.

Exponential Growth Ahead

The global biofuel industry is projected to significantly increase by 2025— compared to 2020, it is expected to triple in Asia, grow six-fold in the U.S. and three-fold in Europe, according to Greenea, a broker and consultant specializing in waste-based feedstock and biodiesel. Over the past 15 years, Apeiron Bioenergy has built its presence in over 10 countries and collected more than 500 million litres of UCO between 2017-2021, offsetting an estimated 1.5 million tonnes of carbon emissions.

Industry Support for Aperion Bioenergy

Apeiron Bioenergy has had a busy year. In May, the company received a green loan from HSBC as part of the Enterprise Financing Scheme – Green under Enterprise Singapore. This is the bank’s first EFS green loan processed under a Streamlined Certification Process to provide enterprises with simpler access to sustainable financing.

“We are grateful for the industry support which will allow us to build a collaborative community to resolve supply chain inefficiencies with Apeiron Bioenergy’s multicultural and muti-jurisdictional strategy,” said Richard Huang, Co-founder at Apeiron Bioenergy. "At Apeiron Bioenergy, our vision is to reduce carbon emissions across the land, sea and air transportation spaces with an efficient supply of biofuels.”