Plasco Energy Group Inc., an Ottawa, ON, Canada-based company that builds, owns, and operates proprietary technology that converts municipal solid waste into green power products, received a C$140m equity financing.
The round was led by funds managed by Soros Fund Management LLC.
The company intends to use the capital to fund commercial projects in development in Canada, the United States (California), the United Kingdom, Poland, the Caribbean, and China.
The new financing follows a C$110m equity commitment led by Ares Management LLC in July 2010.
Led by CEO Rod Bryden, Plasco uses its proprietary technology to convert municipal solid waste (MSW) into PlascoSyngas, clean water and construction aggregate, which is then used to fuel engines to produce electricity with a low emissions footprint.