Venture Capital: Bioenergy Devco Raises $100M For Sustainable Organic Waste Recycling

https://dailyalts.com/wp-content/uploads/2021/11/1024px-Anaerobic_digesters_overhead_view.jpg

Bioenergy Devco is a leading global developer of anaerobic digestion facilities.

Bioenergy Devco last week raised $100 million from funds managed by alternative investment manager Irradiant Partners, a firm which specializes in climate infrastructure, private equity and credit. Bioenergy Devco creates renewable, carbon-negative energy by recycling organic waste using its proven anaerobic digestion technology. (Yahoo Finance)

“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,” said Shawn Kreloff, Founder and Chief Executive Officer. “Bioenergy Devco’s technology can sustainably divert food waste from landfills, and in turn, give this discarded organic material a valuable second life.”

The company will use the money in the development of multiple anaerobic digestion facilities to drive sustainable organic waste recycling and reduce greenhouse gas emissions in North America.

Bioenergy Devco is currently constructing the largest and the first industrial-scale food waste digester in the U.S. at the facility at the Maryland Food Center Authority. It will have the capacity to accept more than 115,000 tons of organic material annually, having the same carbon positive impact as a forested area 40 times the size of Central Park.

“BDC’s success in transforming discarded food and other organic waste into renewable energy moves us closer to realizing a truly circular economy,” said Mark Longstreth, a Partner at Newlight, an existing investor in the company.

Related Story: Nuveen Backs ‘Do Good Foods,’ A Food Waste Upcycler, With $169M

Image of anaerobic digesters, Tel-Aviv 2005 – Wikimedia Commons

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/11/hand-plus-btc-plus-india-colors.png
Digital Assets: India To Clamp Down On Cryptocurrencies Via Legislation By Year-End
November 24, 2021     Digital Assets, Latest News, News

The legislative agenda for the upcoming winter session of the Lok Sabha, the lower house of India’s parliament, shows that a bill titled “The Cryptocurrency and Regulation of Official Digital…

https://dailyalts.com/wp-content/uploads/2021/11/Klarna-HQ-in-Stockholm-scaled.jpg
FinTech: Klarna Launches “Pay Now” In The US, Klarna Card Soon To Follow
November 24, 2021     FinTech, News

Klarna, the Stockholm-headquartered fintech powerhouse last valued at $45.6 billion, has brought a “Pay Now” offering to consumers at retailers wherever Klarna is accepted. The company also announced a Klarna…

https://dailyalts.com/wp-content/uploads/2021/11/fb-default.b5dd38d9c4194731a32674e7e89fe658.jpg
Venture Capital: Agtech And Farmer-To-Farmer Platform FBN Raises $300M
November 24, 2021     ESG and Sustainability, News, Venture Capital

Farmers Business Network (FBN) is a farmer-to-farmer network launched in 2014 as an information source and for sharing of agronomic precision data. It now has thousands of farmer-members managing millions…

https://dailyalts.com/wp-content/uploads/2021/11/img13-2400.jpg
Venture Capital: Arc, Which Makes $300K Electric Boats, Snags $30M
November 24, 2021     News, Venture Capital

Arc, a startup led by former SpaceX engineers and developing electric boats, announced its $30 million Series A raise led by Greg Reichow, a former Tesla VP of Production, now…