- Founded in 2019, EAG Bioenergy is a renewable energy company, specialising in acquiring, operating and developing bioenergy assets across the UK and Ireland;
- The company is backed by Vesper Infrastructure Partners and OrbeNovo Capital;
- The £25m loan from OakNorth will support the scaling of EAG Bioenergy’s portfolio of bioenergy assets across the UK and Ireland through acquisitions;
- The UK’s biogas and biomethane sector is set to grow at a compound annual growth rate (CAGR) of 13.7% to 2033, driven largely by energy security needs and sustainability goals[1].
Glasgow, 15th January, 2026: OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £25m loan renewable energy company, EAG Bioenergy.
Founded in 2019 by Chris Kerr, EAG Bioenergy specialises in acquiring, operating and developing bioenergy, biomethane and biofertilizer assets across the UK and Ireland. Headquartered near Belfast, the firm is backed by Vesper Infrastructure Partners and OrbeNovo Capital. Vesper Infrastructure Partners is a value-add infrastructure investor focused on mid-market opportunities covering energy, energy transition, data & digital and social infrastructure themes. OrbeNovo Capital is a is a specialist private equity firm investing in growth businesses and real assets across the Energy & Industrials sectors with a focus on decarbonization.
The £25m loan from OakNorth will support the scaling of EAG’s existing portfolio of bioenergy assets, including biogas and biomethane sites across the UK and Ireland through acquisitions. The acquisitions enable EAG Bioenergy to further scale its operational portfolio and increase the production of renewable electricity and biomethane across the UK.
Peder Bratt, Director of EAG Bioenergy and Partner at OrbeNovo Capital, commented on the transaction: “This transaction represents another important step in executing EAG Bioenergy’s buy-and-build strategy across the UK’s fragmented biogas market. The assets being acquired are high-quality, operational sites with expansion potential, that fit squarely within our investment thesis of building a scaled, diversified platform underpinned by long-dated, inflation-linked revenues. OakNorth’s ability to structure and deliver capital efficiently has been instrumental in enabling EAG Bioenergy to continue expanding its footprint at pace, while maintaining a disciplined approach to risk and value creation.”
Michael McGregor, Director of Debt Finance at OakNorth, added: “Biogas and biomethane play an increasingly important role in the UK’s energy transition, offering a reliable, low-carbon alternative to fossil fuels while supporting the circular economy. With the UK biogas and biomethane market forecast to grow significant, demand for high-quality, well-operated assets is strong. EAG Bioenergy benefits from an experienced management team, institutional backing and a clear strategy, and we’re pleased to support the business as it continues to build a diversified, scalable renewable energy platform.”
ENDS
Notes to editors
[1] Green Gas Taskforce – A green gas future
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £5m-£100m in revenue), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided $18bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 61,000 jobs, and over 38,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
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[1] Green Gas Taskforce – A green gas future