WASE team
UK-based start-up WASE has raised over £8.5 million (€9.9 million), including £2.4 million (€2.8 million) in non-dilutive funding.
The funding round was led by Extantia Capital with participation from Hitachi Ventures, WEPA Ventures, the family venture capital firm of European multi-generational family business WEPA, and Engie New Ventures, the CVC arm of global energy company Engie.
Other investors include Elbow Beach Capital and Empirical Ventures.
This round will provide funding for WASE to expand its business, execute on multi-million pound contracts and projects signed in its eligible pipeline and build out its product offering.
WASE’s proprietary electromethane reactor (EMR) technology maximizes the amount of biogas produced from biomass and organic matter in wastewater in anaerobic digestion (AD) plants, the company said.
The unit increases biogas production by 30% and up to 10 times faster, the company continued.
The technology also increases the methane content of biogas to more than 80% compared to traditional AD, where methane content of 50-60% is typical, the company added.
Thomas Fudge, Founder and CEO of WASE, said: “Our technology not only optimizes waste decomposition, but also accelerates methane production overall. “We want to set new standards in the energy sector.”
“We look to a future of waste-to-energy that maximizes the economic and environmental benefits for all parties involved, and we will play a key role in this transition by becoming a leader in the biogas market. Extantia and ENGIE, with their deep understanding of this space, and all the investors supporting us in this round will be a valuable resource in helping us achieve this. Sho.”
Carlota Ochoa Neven de Mont, Principal of Extancia, said: “We strongly believe that biogas and biomethane will soon become a major source of renewable energy and occupy an increasing share of the energy mix. The WASE approach increases the yield of biogas and biomethane from AD processes and In addition to increasing profitability and productivity, we are reshaping the way industrial enterprises think about resources.
“We believe our cutting-edge technology, built-in know-how in commercializing wastewater solutions, existing supplier relationships and capital-efficient approach puts us well ahead of our competitors in this space. We’re happy to have established ourselves in this field.” Please support them. ”
WASE team
