US-based Waste Management has made a strategic investment in Agnion Energy to advance Agnion's allothermal gasification technology.
Agnion’s allothermal gasification technology converts solid biomass feedstock into a high hydrogen and carbon monoxide-rich synthetic gas (syngas) with exceptionally high heating value.
The syngas is ideally suited for combined heat and power applications and can be converted into liquids, hydrogen and methanol di-methyl-ether and or substitute natural gas.
As part of the srtategic inestment, Waste Management joins other investors in Agnion including, Kleiner Perkins Caufield Byers, Munich Venture Partners and Wellington Partners.
Waste Management Organic Growth managing director Tim Cesarek said Agnion’s technology complements Waste Management’s advancement of thermo-chemical conversion technology platforms and will enhance the company’s suite of waste processing options.
Agnion CEO Stephan Mey said the company’s commercial biomass gasification plant is currently under construction in the Bavarian town of Grassau and it plans to build other plants in Europe and North America.