Impact Bioenergy raises $3.6mn in Series A funding
SUMMARY
Impact Bioenergy builds and deploys community-scale systems that convert food waste into renewable natural gas. [Image: Impact Bioenergy]
By Shardul SharmaSeattle-based renewable energy company Impact Bioenergy has completed its Series A funding round in the amount of $3.6mn, with Japan’s Itochu Corporation being an anchor investor in the round, it said on October 27.
Impact Bioenergy builds and deploys community-scale systems that convert food waste into renewable natural gas, diverting food waste from landfills for productive reuse.
The funding will enable Impact Bioenergy to scale manufacturing and to expand its offering to meet the strong demand the company is seeing, it said.
"Converting food waste to energy not only reduces transportation costs and fuel consumption but also generates electricity, heat and carbon offsets. Rarely does a technology come along that has so much positive impact with zero waste," said Jan Allen, founder of Impact Bioenergy.
Impact Bioenergy president Tim Tiscornia said the company is already working with several college and corporate campuses.
“We are fielding calls every week from restaurant chains, grocery stores and others who want to make a meaningful impact on the environment by turning their organic waste into renewable natural gas and drive toward carbon neutrality,” he said.
