Waste2Tricity, a London, UK-based provider of solutions for the waste to energy sector, completed a £1m round of funding.
Backers included new investors from the UK, Europe, Thailand, Australia, UAE and Israel as well as current shareholders and board directors.
The company intends to use the funds for early deployment of its AFC Energy fuel cell technology to achieve commercial roll out by 2016.
Founded in 2008, Waste2tricity works with clients and partners to develop, fund and support EfW deployment projects that integrate proven plasma gasification and internal combustion engines/gas turbines (ICEs/GTs). The company has been already involved in the $500 million Air Products Tees Valley Renewable Energy Facility (TV1), a 350,000 ton 50MW program utilizing Alter NRG Westinghouse waste to energy project currently being built in Tees Valley.
In April 2013, W2T founded Waste2Tricity International (Thailand) Ltd to work in partnership with a number of Thai companies, government departments, waste company operators and land owners to collaboratively develop a pipeline of waste to energy projects.
A pilot strategy in Thailand has already been deployed.
Shareholders in the company include Roman Abramovich’s Ervington Investments, who acquired a 10% share capital stake in November last year, Age of Reason Foundation and Eturab.
FinSMEs
08/10/2013