GreenWatt, a Louvain-la-Neuve, Belgium-based waste-to-energy company, has raised €6m in funding.
The round was led by Gimv-Agri+, which committed €3.6m, with participation from new investors Innogy Venture Capital and SRIW, and existing investors Energie Brabant Wallon, Nivelinvest, Vives and business angels.
The company in tends to use the capital for international development.
Founded in 2004 as a spin-off of the Belgian Université Catholique de Louvain (UCL), and led by CEO Philippe Mengal, GreenWatt designs, develops, commercializes and maintains locally integrated turn-key biogas installations for the agro-food and beverage industry. The biogas can be used as fuel in combined heat/power engines (cogeneration) or can be upgraded to natural gas quality bio-methane for injection in the grid.
Target customers are farmers, food & beverage companies, food service companies, food retail and sustainable biomass users.