Clean World Partners (CWP), a Sacramento, CA-based clean technology start-up that owns proprietary pioneering technology that converts food and other organic waste into energy, fertilizer and additional valuable byproducts, has received a strategic investment of undisclosed amount from Synergex Ventures.
Synergex Ventures, a wholly owned subsidiary of Gold River, CA-based Synergex International Corporation, purchased a controlling interest in CWP. Following the trasaction, Synergex’s Michele Wong, will be the new company’s CEO.
Founded in early 2009 by Sacramento entrepreneurs Warren Smith and Greg Hayes, CWP licensed innovative anaerobic digestion (AD)* technology from UC Davis (UCD) invented by scientist Dr. Ruihong Zhang.
The technology enables both small and large waste producers to reduce waste processing time and maximizing energy production.
The investment will enable CWP to build a commercial high-solid anaerobic digestion facility.
The company is targeting to have its first project under contract by the end of the first quarter of 2011 and to have it built and operational by year’s end. CWP also received a $1.3m grant from the California Energy Commission under the State’s AB 118 program and will use those funds to pay for predevelopment work on this initial project.
*Anaerobic digestion is the controlled breakdown of organic matter without air, used to manage waste and/or to release energy. It is a biological process that produces an energy-rich biogas, principally composed of methane (CH4) and carbon dioxide (CO2), which can be used as a fuel. It is used primarily in the United States as a wastewater treatment solution.