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Clean fuel technology startup WASE, announced today that it has raised £8.5 million (USD$10.7 million), […]]
Clean Fuel Startup WASE Raises Over $10 Million to Scale Waste-to-Energy Solution – ESG Today
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Clean Fuel Startup WASE Raises Over $10 Million to Scale Waste-to-Energy Solution
Susan Lahey
March 27, 2024
Clean fuel technology startup WASE, announced today that it has raised £8.5 million (USD$10.7 million), with proceeds aimed at scaling its biogas producing waste-to-energy solution.
Biogas is produced from organic waste, such as agricultural, industrial, and household wastes, in anaerobic digesters at waste facilities or landfill sites, and then further processed to produce biomethane/bio-LNG. Biomethane is chemically identical to fossil-based natural gas, but has substantially lower lifetime greenhouse gas emissions, enabling it to support the decarbonization of hard-to-abate sectors such as road transport and heavy industry, without needing to replace existing transmission and distribution infrastructure.
Founded in 2017, Bristol, UK-based WASE provides technology to turn waste into a renewable source of energy. The company’s Electro-Methanogenic Reactor (EMR) technology maximizes the amount of biogas produced from biomass in anaerobic digestion plants, as well as from organic matter in wastewater. The company said that its units increase biogas generation by 30% up to ten times faster and increases the methane content of biogas to more than 80% compared to conventional anaerobic digesters. The company added that its modular system fits into existing infrastructure and is also 50-70% smaller than currently available solutions.
Thomas Fudge, Founder and CEO of WASE said:
“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. 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.”
The round was led by Extantia Capital and with participation from Hitachi Ventures, WEPA Ventures, Engie New Ventures, Elbow Beach Capital and Empirical Ventures.
WASE said that it will use the proceeds from the financing to scale operations, execute signed contracts and projects in its qualified pipeline, and build out its product offering.
Carlota Ochoa Neven Du Mont, Principal at Extantia, said:
“We strongly believe that biogas and biomethane will soon be a key source of renewables and will make up a growing percentage of the energy mix. WASE’s approach doesn’t just increase biogas and biomethane yields from the AD process, making it more profitable and productive, it is reshaping the way industrial businesses are thinking about their resources.”
Susan Lahey
Susan Lahey started her career as a business reporter for The Kansas City Star and has worked as a freelancer covering business, investment, technology, sustainability and science for numerous publications. She has also worked as a writer and editor for publicly funded projects mandating environmental cleanup of a molybdenum mine in Northern New Mexico; and recovery and resiliency measures following Hurricane Maria in Puerto Rico. Recently she worked as Director of Communications for a European wave energy company.
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