· The Basque company strengthens its position with the support of new shareholders such as Stellum Growth and Nexio Power Inc
· It will present two new BioAutogas engines and continue to strengthen its supply chain
· It launches a strategic plan for 2028 with ambitious objectives, such as tripling its business volume and increasing its workforce by 50%
Bilbao, February 3, 2025. BeGas, a leading Basque company in the manufacture of 100% BioAutogas-powered engines for industrial vehicles, has successfully closed a new round of capital increase worth 18 million euros. This will allow the company to boost its growth, accelerate the development and approval of two new BioAutogas engines and strengthen its role as a benchmark in sustainable mobility solutions for the industrial sector.
This operation involved a consortium of investors with new participants such as Stellum Growth or the American truck manufacturer Nexio Power Inc, in addition to a solid group of investors that were already part of the company’s corporate structure, such as Innvierte (CDTI), Ekarpen Private Equity, Repsol Energy Ventures, Itzarri EPSV, Easo Ventures, Seed Capital of Bizkaia and the company’s founder, Pedro Silva. The strong support of its shareholders demonstrates the confidence in BeGas’ business model and its ability to lead the transition towards sustainable engines.
The funds obtained in this operation will be used to strengthen different key areas of the business. Firstly, BeGas will focus part of the investment on the development and approval of two new 6 and 9 litre BioAutogas engines, which will be presented in 2025 and will allow it to expand its catalogue of sustainable solutions for heavy urban transport in the 12 to 26 tonne segment.
They will also use part of this financing to continue strengthening their supply chain, which already has strategic suppliers such as ZF Group, Bimotor/FPT or Bosch Engineering Group among others, ensuring the highest quality standards in the products and solutions offered by the Basque company. In addition, to guarantee the reliability and reliability of its engines, BeGas maintains a strong alliance with the CMT- Clean Mobility & Thermofluids Center- and the CTAG- Centro de Automoción de Galicia-, recognized technological centers in the automotive industry.
Finally, the company also seeks to scale up production at its headquarters, in the Abra Industrial Estate of Ortuella (Bizkaia), in order to respond to the growing demand for environmentally friendly solutions in the European industrial vehicle market.
In the words of Pedro Silva, CEO of BeGas, “at BeGas, our commitment to sustainability and innovation is the axis that guides our work. This new capital increase strengthens our ability to continue offering pioneering solutions for sustainable mobility and accelerate the energy transition of heavy urban transport. Our goal is to invest in the future, strengthening our workforce and our supply chain as fundamental pillars, while prioritizing innovation in alternative fuel engines that contribute to decarbonization.”
A strategic plan to lead the future of sustainable transport
The engine manufacturer has demonstrated sustained growth in recent years, consolidating itself as a benchmark in its sector. This drive is reflected in its Strategic Plan 2025-2028, which establishes ambitious objectives to lead the ecological transition of heavy urban transport. Among the first goals that have been set are tripling its business volume and increasing its workforce by 50%.
Furthermore, the success of this recent capital increase marks a milestone in BeGas’s career, reinforcing its leadership in the sector and its ability to continue advancing in developing solutions that reduce CO2 emissions and contribute to the European net zero emissions objectives
Innovation and commitment to sustainability
As a leader in the BioAutogas engine market, BeGas is positioned at the forefront of technological innovation, accelerating the development of renewable fuel engines and positioning itself as a pioneer in the energy transition in the industrial vehicle sector.
Aware of the need to transform transport and advance the transition towards clean energy, the company will redouble its commitment to hydrogen engine research, collaborating on two R&D projects – co-financed with Next Generation EU funds – managed by institutions such as the Centre for Technological Development and Innovation (CDTI) or the Institute for Energy Diversification and Saving (IDAE).
