MemoACT Raises NOK16M
MemoACT AS, a Trondheim, Norway-based developer of a new carbon membrane solution that makes it possible to use waste as fuel for such as trucks, buses and cars, has raised NOK16m.
Investors in this round of financing include Viking Venture, Alliance Venture, Salvesen & Thams and GLØR.
Founded in August 2008 as a joint venture between NTNU Technology Transfer (TTO) and the entrepreneurs professor May-Britt Hägg, PhD Jon Arvid Lie and PhD Arne Lindbråthen, the company has proprietary technology for upgrading of biogas and separation of other gases.
MemoAct intends to produce carbon membrane modules and sell biomethane production units to existing biogas plants.