EnerTech Environmental, waste conversion company, takes $42M
Enertech Environmental is one of a new generation companies that promises to use waste matter and byproducts from municipalities to help create renewable fuel.
The company’s patented process, called SlurryCarb, uses biosolids (a nice way of referring to the congealed stuff in our sewers) to produce biofuel.
Based in Atlanta, Georgia, Enertech’s only existing processing facility is a Rialto, Calif. facility that processes 683 tons of of waste matter per day. The facility was completed with $160 million from private equity and bond sales.
The $42 million funding was co-led by Citi Sustainable Development Investments and Masdar Clean Tech Fund. Nimes Capital and CNM also participated in the round.
Next Story: Soonr, mobile document reader, raises round and expands in Europe
Previous Story: Search Wikia gets slammed, here’s our review
About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.