UK clean energy start-up Wase secures £8.5mn funding
SUMMARY
The company said this investment will play a role in advancing its proprietary electro-methanogenic reactor (EMR) technology to meet the evolving needs of its clientele. [Image: Wase]
By Shardul SharmaWase, a UK-based clean energy start-up, announced on March 27 that it had raised £8.5mn ($10.7mn) in funding to drive forward its waste-to-energy initiatives.
The funding round was led by Extantia Capital, with contributions from investors including Hitachi Ventures, WEPA Ventures, and Engie New Ventures, the corporate venture capital arm of global energy company Engie. Other investors participating in the round include Elbow Beach Capital and Empirical Ventures. An aspect of this funding round is the inclusion of £2.4mn in non-dilutive funding.
Wase has earmarked these funds to accelerate its operational expansion and facilitate the execution of existing contracts and projects with customers. The company said this investment will play a role in advancing its proprietary electro-methanogenic reactor (EMR) technology to meet the evolving needs of its clientele.
“From maximising the recovery of biogas from organic matter in wastewater to ensuring anaerobic digestion plants get the highest yields. Our units increase biogas generation by 30%, up to ten times faster than AD. The tech also increases the methane content of biogas to more than 80% compared to conventional AD where methane contents of 50-60% are more typical,” the company said.
Wase believes that biogas and biomethane will soon be a key source of renewables and will make up a growing percentage of the energy mix.
