Bioenergy Devco secures funding for bioenergy project
Published by Bella Weetch,
Editorial Assistant
Energy Global,
Bioenergy Devco, a global developer of anaerobic digestion facilities that transform organic waste into renewable energy and healthy soil products, has announced that it has secured US$100 million in financing from funds managed by Irradiant Partners, LP (Irradiant), an alternative investment manager with expertise in climate infrastructure, private equity and credit. This new capital will support the development of multiple anaerobic digestion facilities to drive sustainable organic waste recycling and reduce greenhouse gas emissions in North America. Irradiant joins Bioenergy Devco’s existing investor base that includes Newlight Partners LP (Newlight), a growth equity investment firm, and Sagewind Capital LLC, a New York-based middle-market private equity firm.
“We are thrilled that Irradiant has joined us in our mission to make our planet healthier through the natural power of anaerobic digestion”, said Shawn Kreloff, Founder and Chief Executive Officer of Bioenergy Devco. “Anaerobic digestion, as evidenced by our success throughout Europe, is the most environmentally responsible way to recycle food waste into renewable energy while reducing emissions and achieving decarbonization and climate goals in North America. Bioenergy Devco’s technology can sustainably divert food waste from landfills, and in turn, give this discarded organic material a valuable second life.”
Bioenergy Devco has constructed more than 240 anaerobic digesters and currently manages 140 facilities worldwide. Since launching in the US in 2019, the company has over 20 anaerobic digesters in development, including two under construction in Delaware and Maryland. Slated to be one of the largest and the first industrial-scale food waste digesters in the US, the facility at the Maryland Food Center Authority will have the capacity to accept more than 115 000 tpy of organic material, offering the same carbon sequestration impact as a forested area 40 times the size of Central Park.
Bioenergy Devco provides a proven solution to organics recycling that reduces our greenhouse gas emissions. Its anaerobic digestion technology decarbonises the food, agriculture, waste, and energy sectors and works in tandem with cities facing waste challenges, companies trying to reach ESG goals, and energy companies working to provide renewable energy alternatives. The company’s facilities can sustainably process hundreds of thousands of tpy of organic material, reducing emissions from landfills, incineration, and transporting waste, and reduce our dependency on fossil fuels by using natural microorganisms to transform organic material into renewable energy. Unlike previous organics management processes, anaerobic digestion is a carbon-negative technology that does not emit pollutants, turning waste into a valuable source of power for homes, businesses, communities, and fleets.
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Read the article online at: https://www.energyglobal.com/bioenergy/10112021/bioenergy-devco-secures-funding-for-bioenergy-project/
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