Singapore-based waste-to-biogas firm KIS Group has secured a $23 million debt facility, with an eight-year tenure, from Zurich-based impact asset manager responsAbility. The funding will support seven biogas/bio-CNG projects across Indonesia.
According to KR Raghunath, founder and CEO of KIS Group, the company requires $32 million to fund its expansion, with 30% coming from its own equity, while the rest will be financed via debt.
“This financing structure is key. It’s never been done before in Southeast Asia’s biogas sector and will help us scale this industry to the next level,” Raghunath told DealStreetAsia at the sidelines of an event marking the partnership between responsibility and KIS Group in Jakarta on Thursday (July 3).
