InenTec gets $150M for waste gasification facility
A Bend, Ore. company called InenTec has just received a $150 million equity commitment toward a gasification plant from Lakeside Energy, which will help prove the concept.
In an InenTec facility, waste is subjected to intense temperatures until it vaporizes and separates into a number of constituent elements. The useful parts are then sorted out for reuse as fuel and raw material.
The design has been used for several years, and the company owns its own pilot facility. However, the business of building such plants across the United States is still in its infancy, and it will need large-scale projects to help prove its efficacy.
Lakeside is a Chicago-based investment firm. Another private equity group, American Securities, is providing funding as part of the deal.
Next Story: Roundup: Yahoo developer platform launches, Wal-Mart sells G1, and more
Previous Story: Efficiency companies Sustainable Spaces and Renu join forces
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.