Nodal Power, a Salt Lake City, UT-based company that develops and operates landfill gas to energy power plants, raised $13M in Seed funding.
The backers were not disclosed.
Led by CEO Bryan Black, Nodal Power develops and operates renewable energy assets, specifically in the biogas space.
Methane is a potent greenhouse gas that is 25 times more effective at trapping heat than carbon dioxide, which makes it a much more impactful gas to which to focus mitigation.
By combusting the methane gas in a generator, Nodal Power reduces carbon emissions compared to flaring or venting and creates beneficial use for an otherwise wasted resource.
The company intends to use the funds to expand operations and its business reach to mitigate methane emissions at landfills. Much of the funding has already been deployed to build and operate two power plants in the US. Site one, located in the southeast US, exports electricity generated by landfill gas to the local utility. This site is also equipped with a data center, which allows for economic dispatch between the utility and the data center. Site two, located in the mountain west, runs a fully sustainable off-grid data center powered by landfill gas. Additional funds will be deployed at a third US site early 2024. All three sites produce renewable electricity from methane gas generated by the decomposition of organic waste at landfills.
FinSMEs
24/08/2023