HomeBiogas signed an agreement with SKG Sangha to Implement a large-scale carbon project in India
Homebiogas and SKG plan to install over 7,000 biogas systems which are expected to generate more than 500,000 carbon credits
Tel Aviv, November 6, 2023 – HomeBiogas (TLV:HMGS), the company developing biogas systems enabling households and businesses to convert their organic waste into clean energy on-site, announces today an agreement with SKG Sangha, a non-profit organization working in the energy, sustainable farming, waste management and climate change fields. SKG Sangha and HomeBiogas will install over 7,000 HomeBiogas systems with dairy farmers in Satara, Maharashtra State in India starting from Q1, 2024. The systems are expected to generate more than 500,000 carbon credits in the next decade. HomeBiogas has already successfully sold a portion of those credits, with plans to continue selling the remainder to organizations who are interested in lowering their carbon emissions.
HomeBiogas develops biogas systems enabling households, businesses, farms, schools, and more to convert their organic waste into clean energy for cooking or heating, on-site. HomeBiogas uses anaerobic digestion to convert these organic materials into energy for cooking or hot water and into organic bio-fertilizer. In 2022 alone, HomeBiogas mitigated 124,591 of CO2-eq.
Over the years, HomeBiogas has achieved substantial success in India, with numerous systems installed nationwide, including CSR projects with corporations like Adani and HCL. HomeBiogas plays a pivotal role in empowering women in India by enabling smoke-free cooking and fostering sustainable agriculture among local farmers, with the creation of bio-fertilizers that promote healthy soil and abundant crop growth.
SKG Sangha, an experienced carbon project developer, having registered more than 12 carbon projects under Gold Standard and Verra in India, will be managing and operating the carbon credits project, including installing and maintaining the HomeBiogas systems while documenting the carbon certificates according to international standards.
The recent agreement will supply HomeBiogas systems to small-scale dairy farms: the farmers feed the HomeBiogas system cow manure which is converted into clean energy and bio-fertilizer. The Indian farmers will replace the cooking on firewood and the use of charcoal thanks to the biogas produced from the system. Hence, the systems will reduce exposure of women and children to harmful cooking smoke, allow the growth of healthy crops and soil, minimize their usage of chemical fertilizers, cut reliance on fossil fuels for cooking, prevent harmful methane from reaching the atmosphere and decrease deforestation.
“I’m excited to announce a substantial, long-term deal with SKG Sangha that incorporates the installation of thousands of HomeBiogas systems in India and the expected sale of 500,000 carbon credits that the project will produce,” says Oshik Efrati, HomeBiogas’ CEO. “The sale of carbon credits is a significant contribution to the Homebiogas business model where most of the income for manufacturing, installing and maintaining the HomeBiogas systems with the Indian dairy farmers will derive from selling carbon credits to companies who are interested in lowering their emission and not from the farmers themselves. I believe that developing and implementing innovative technologies, together with adopting carbon-based funding solutions, will lead humanity to succeed in facing climate challenges”.
