Cambi partners with CNP CYCLES GmbH to expand its technology portfolio and strengthen its market presence in Germany

14 Aug 2025 15:00 CEST

Cambi has signed an agreement acquiring a majority stake in CNP CYCLES GmbH a
German-based company specialising in nutrient recovery and energy-efficient
solutions for wastewater treatment plants.

CNP CYCLES is headquartered in Alzenau, Germany and specialises in technologies
and solutions that optimise sewage sludge treatment, complementary to Cambi’s.
They have successfully delivered many projects for water utilities and
industrial clients, focusing on resource recovery and process efficiency, and
contributing to sustainable and cost-effective operations.

The acquisition supports Cambi’s strategy to expand its presence in Germany,
Europe’s largest sludge treatment market by volume. Through CNP CYCLES, Cambi
gains access to a local team with a strong reputation and deep market knowledge.
The transaction also strengthens Cambi’s offering beyond thermal hydrolysis in
Europe and globally.

Per Lillebø, CEO at Cambi, commented: “Partnering with CNP CYCLES marks a
significant step in Cambi’s strategy to expand our offerings within sludge
treatment and nutrient recovery. CNP CYCLES’s technologies and expertise are
complementary to ours, and this acquisition positions both companies to unlock
growth. This partnership will advance Cambi’s long-term vision for sustainable,
circular solutions in wastewater treatment globally”.

Rudolf Bogner, Managing Director of CNP CYCLES, added: “We are proud of our
team’s achievements over the past years. The merger with Cambi marks a new phase
of development for CNP CYCLES. With Cambi’s support, we will have the strength
and reach to continue growing in Germany and internationally, and to continuing
offering innovative and reliable solutions to our clients.”

CNP CYCLES has 10 employees and in 2024 the company recorded revenues of €3.0
million. Operating just above break-even EBITDA, the company is positioned to
benefit from synergies with Cambi’s scale and operational capabilities.

As part of the agreement, Cambi will acquire a 51% equity interest in CNP CYCLES
GmbH, to be settled in cash with immediate effect. The agreed enterprise value,
on a 100% basis, is around the midpoint of the “Small” contract announcement
range. The current shareholders will continue to own 49%, and the agreement
establishes a structured pathway for Cambi to acquire full ownership after five
years, contingent upon certain conditions.

For more information, please contact:

Cambi ASA
• Per Lillebø, CEO, per.lilleboe@cambi.com, +47 918 88 365
• Mats Tristan Tjemsland, CFO, mats.tjemsland@cambi.com, +47 920 67 094

CNP CYCLES GmbH
• Rudolf Bogner, Managing Director, rudolf.bogner@cnp-cycles.de, +49 172 635
2361


Note on transaction value:
Category Small
NOK million 15-50


About Cambi

Cambi is a global supplier of sludge treatment technologies and solutions for
wastewater treatment plants and anaerobic digestion facilities. Since 1992, it
has retained market leadership through continuous innovation and a robust
portfolio of proven and patented technologies. With strong project delivery and
customer support capabilities, the company has delivered many well-performing
installations in 28 countries on six continents.

Cambi’s thermal hydrolysis process increases renewable energy output, reduces
operational costs, and minimises greenhouse gas emissions. It is a future-proof
solution suitable for all biosolids outlets, including land application and
thermal processes such as drying, pyrolysis, and incineration. Thermal
hydrolysis is compatible with all sludge and waste treatment regulations and
easy to integrate at new and existing anaerobic digestion sites.

Cambi is listed on Euronext Growth Oslo, a multilateral trading facility in
Euronext, Europe’s largest stock exchange platform. Find out more at cambi.com.


About CNP CYCLES

CNP CYCLES GmbH, founded in 2011, specialises in innovative technologies for
nutrient recovery and energy optimisation in wastewater treatment plants. The
company's name reflects its focus on the chemical elements Carbon (C), Nitrogen
(N), and Phosphorus (P), which are crucial in water and sludge treatment. The
company's philosophy, "watering life," emphasizes closing cycles in the water
sector to promote sustainability.


This information is subject to a disclosure duty as per Section 5-12 of the
Norwegian Securities Trading Act.

More information:
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652913_2025.08.14 - Press Release - Cambi partners with CNP CYCLES to expand technology portfolio and strengthen market presence in Germany.pdf