A Bristol firm has secured £8.5 million to scale its ‘waste-to-energy’ technology.
WASE’s Electro-Methanogenic Reactors (EMR) maximise the biogas produced from biomass in anaerobic digestion plants – and also from organic matter in wastewater.
It says its units increase biogas generation by 30%, up to 10 times faster than AD, while also increasing the methane content of biogas to more than 80% compared to conventional AD – where methane contents of 50-60% are more typical.
“Our plug-and-play system fits into existing infrastructure and is 50-70% smaller than what is currently available,” said Thomas Fudge, founder and CEO.
“The modular solution allows customisation, making it much easier for companies to deploy at their site, resulting in more energy production and lower costs in the long run.”
The round was led by Extantia Capital, with participation from Hitachi Ventures, WEPA Ventures, the family venture capital firm of the European multigenerational family business WEPA, and Engie New Ventures, the CVC arm of the global energy company Engie.
Other investors include Elbow Beach Capital and Empirical Ventures. The round includes £2.4m in non-dilutive funding.
It will be used to scale operations and execute multi-million pounds’ worth of signed contracts and projects with customers while WASE builds out its product offering.
“We want our technology to set a new standard in the waste treatment and energy sectors, by not only optimising waste breakdown but by boosting methane production across the board,” added Fudge.
“We’re seeing a future of waste-to-energy that maximises economic and environmental benefits for all players involved, and we aim to play a major part in this transition by becoming leaders in the biogas market.
“Extantia and ENGIE, who deeply understand this sector, and all the investors supporting us in this round, will be invaluable resources to help us achieve this.”
Carlota Ochoa Neven Du Mont, principal at Extantia, added: “WASE’s approach is reshaping the way industrial businesses are thinking about their resources.
“We think their cutting-edge technology, the know-how they have built-in commercialising their wastewater solutions, their existing supplier relationships, and their capital-efficient approach positions them well ahead of competitors in this space – and we’re delighted to support them.”
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