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

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

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