Long-term output performance guarantees and equipment warranty available for
comprehensive enterprise risk management program
Hamilton, Bermuda, April 19, 2022 — Ariel Re, a global (re)insurer with offices in Bermuda, London
and Hong Kong, today announced that it has insured the long-term performance warranty of
Ecogensus LLC, a global leader in advanced technology focused on delivering sustainable waste
management solutions.
Through its Lloyd’s Syndicate 1910, Ariel Re provides insurance coverage to backstop comprehensive
performance guarantees for Ecogensus’ recyclers, which process solid waste into high performance
biofuels. The insurance coverage puts the strength of Ariel Re behind the performance guarantees
for Ecogensus’ processing capacity and fuel specifications.
In addition to the performance warranty, Ariel Re and Ecogensus have also developed a project
revenue protection program, which is structured to support debt lenders and based on an up-to-10-
year facility level output performance warranty (“OPW”). The OPW program can be coupled with a
facility start-up guarantee, which provides a seamless enterprise risk management solution.
“With a growing need for advanced technology to address significant environmental issues, including
methane release and ocean plastic pollution, the global market will benefit from product offerings
by Ecogensus,” said Frank Petrocelli, Senior Risk Analyst, Clean Energy Risk Solutions at Ariel Re.
“Insurance products from strong counterparties like Ariel Re, will help to accelerate the use of these
technologies.”
George Schulz, Leader Americas of Ariel Re Clean Energy Risk Solutions, added: “As the demand for
sustainable waste management solutions continues to grow and project owners and investors seek
support of complex performance warranties from recycling solution providers, the Ecogensus team
has demonstrated a scalable waste recycling solution with a strong focus on robust and reliable
performance; with open dialogue and sharing of information, it enables us to tailor a custom risk
transfer solution. Ariel Re is pleased to help Ecogensus achieve its strategic growth goals.”
Bjornulf Ostvik, Founder and CEO of Ecogensus, said: “We are excited to partner with Ariel Re to
provide reliability and certainty to our customers as we roll out our sustainability solutions globally.
Our recycling technology offers market-leading waste processing capabilities and enables viable
landfill alternatives. The Ariel Re program can enable our customers to access competitive financing
solutions as they upgrade their facilities and enhance their valuations with our state-of-the-art
recycling solutions.”
About Ariel Re:
Ariel Re offers a broad range of innovative insurance and reinsurance solutions and services through
our offices in Bermuda, London, and Hong Kong. We are a focused, specialty (re)insurance
underwriting company meeting the business needs of a diverse client base. Ariel Re operates
principally through Syndicate 1910 in London and also offers access to Lloyd’s Europe via Syndicate
5336.
Originally founded in 2005, Ariel Re was acquired by Pelican Ventures and J.C. Flowers in November
2020. The new owners provide Ariel Re with significant capital resources and a long track record of
supporting successful, entrepreneurial businesses in the (re)insurance industry.
About Ecogensus, LLC (Ecogensus)
Ecogensus is a recycling technology company that has developed useful products (such as
sustainable building materials or high-performance biofuels) from waste. Ecogensus recycler
systems offer market-leading waste processing capacity in a ruggedized, mobile system that can be
placed at existing waste sites. For more information, please visit www.ecogensus.com
Contacts
Media
Sarah Hills, Rein4ce
sarah.hills@rein4ce.co.uk
+44 7718 882011
Ariel Re Contact Information:
Email: info@arielre.com
Email: marketing@arielre.com
Website: www.arielre.com
Tel: 441-295-5485
