Anaergia Announces Leadership Transition

BURLINGTON, Ontario, June 27, 2024--(BUSINESS WIRE)--Anaergia Inc. ("Anaergia" or the "Company") (TSX: ANRG), a global renewable fuels leader, today announced that Assaf Onn, a member of the Company’s Board of Directors (the "Board"), has been appointed as acting Chief Executive Officer, effective June 24, 2024. This follows the mutual decision by the Board and Brett Hodson, the Company’s CEO until Mr. Onn’s appointment, to transition to new leadership following the investment of Marny Investissement SA ("Marny") in the Company.

Mr. Onn has held the position of Chief Operating Officer of Marny since 2008. With over two decades of extensive experience in managing large operations, including retail, commercial and housing real estate, and hospitality throughout central and eastern Europe and the Middle East, his in-depth expertise includes leading organizational excellence, optimizing efficiencies, and fostering growth across diverse industries. Mr. Onn holds a BA in Business Management from Washington State University.

Mr. Onn was appointed to the Board in connection with the April 1, 2024, closing of the C$13.6 million second tranche of the expected C$40.8 million Strategic Investment in the Company by a subsidiary of Marny.

"As we enter the next chapter of Anaergia’s journey with the significant investment and show of confidence in the Company’s business by Marny, it is only natural that Marny would desire to lead the Company and accordingly this is the right time to transition leadership", said Dr. Andrew Benedek, Founder and Chair of the Board. "Assaf knows our business well, and the Board is confident that he is the right leader to oversee the business during this transition period. The Board will oversee the execution of the Company’s strategy together with the new leadership from Marny. On behalf of the Board, I thank Brett for his strong efforts and service to better the Company and wish him luck in his future endeavors."

"I see great potential in Anaergia’s technologies and global footprint," said Mr. Onn. "The rest of the Board, and I, want to move forward and take the necessary steps to advancing Anaergia towards realizing that potential".

"I would like to thank the Board for the opportunity to serve the Company as its CEO and wish Anaergia future success in deploying its great technology," said Brett Hodson.

About Anaergia

Anaergia was created to eliminate a major source of greenhouse gases ("GHGs") by cost effectively turning organic waste into renewable natural gas ("RNG"), fertilizer and water through the use of proprietary technologies. With a track record of delivering innovative projects, Anaergia is uniquely positioned to provide solutions to today’s most pressing resource recovery challenges using a broad portfolio of proven technologies and multiple project delivery methods. Anaergia is one of the world’s only companies with a proprietary portfolio of end-to-end solutions that integrate solid waste processing as well as wastewater treatment with organics recovery, high efficiency anaerobic digestion, RNG production and recovery of fertilizer and water from organic residuals. The combination of these technologies enhances carbon-negative biogas, clean water and natural fertilizer production, utilizes a minimized footprint and lowers waste and wastewater treatment costs and GHG emissions.

For further information please see: www.anaergia.com

Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects Anaergia’s current expectations regarding future events, including but not limited to, statements regarding the. search for Anaergia’s next permanent leader and the advancement of realizing the potential in Anaergia’s technologies and global footprint. Forward-looking information is based on a number of assumptions, including, but not limited to the Company’s ability to meet its financing and liquidity requirements on a continuing basis. The Company is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, counterparty risk exposure and the factors discussed under "Risk Factors" in the Company’s annual information form for the fiscal year ended December 31, 2022, and under "Risks and Uncertainties" in the Company’s most recent management’s discussion and analysis. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws. Additional information on these and other factors that could affect Anaergia’s operations or financial results are included in Anaergia’s reports on file with Canadian regulatory authorities.

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Contacts

For media and/or investor relations: IR@Anaergia.com