UK biogas tech company WASE today announced it raised over £8.5 million, including £2.4 million in non-dilutive funding.
WASE's proprietary Electro-Methanogenic Reactor (EMR) technology is versatile and maximises the amount of biogas produced from biomass in anaerobic digestion (AD) plants, as well as from organic matter in wastewater. Its units increase biogas generation by 30 per cent up to ten times faster.
The tech also increases the methane content of biogas to more than 80 per cent compared to conventional AD where methane contents of 50-60 per cent are more typical.
WASE's plug-and-play system - which fits into existing infrastructure and is also 50 to 70 per cent smaller than what is currently available.
The modular solution allows customisation, making it much easier for companies to deploy at their sites. This results in more energy production and lower costs in the long run.
Tighter regulations and higher costs drive food and beverage companies to seek more affordable, on-site treatment options for their wastewater. WASE already works with several manufacturers, such as Hepworth and St Peter’s Brewery, to convert their wastewater into renewable energy.
The financing round was led by Extantia Capital, with participation from Hitachi Ventures, WEPA Ventures, and Engie New Ventures, the CVC arm of the global energy company Engie. Other investors include Elbow Beach Capital and Empirical Ventures.
According to Thomas Fudge, founder and CEO of WASE:
"We want our technology to set a new standard in the waste treatment and energy sectors by optimising waste breakdown and 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 significant part in this transition by becoming leaders in the biogas market.”
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 how industrial businesses think about their resources.”
Camille Bonenfant-Jeanneney, Managing Director of ENGIE Renewable Gases Europe, stated:
“ENGIE aims to develop 10 TWh per year of biomethane production capacity in Europe by 2030. We want to accelerate the energy transition and strengthen Europe’s sovereignty.
This participation in WASE is a concrete step in deploying innovative technology onto the market and allowing greater efficiency and competitiveness.”
WASE plans to use the funds to scale operations, execute multi-million pounds of signed contracts and projects in their qualified pipeline, and build their product offering.
Lead image: Wase. Photo: uncredited.
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