The FastOx gasification technology turns almost any waste into renewable energy and fuels without burning
Image: FastOx gasification technology turns wastes into renewable energy. Photo: Courtesy of Sierra Energy.
Sierra Energy, a US-based waste-to-energy gasification company, has closed a $33m (£27) Series A investment round led by Breakthrough Energy Ventures.
The funding round was also participated by by Cox Investment, BNP Paribas, Twynam Investments, Formica Ventures, and The March Fund I.
Founded in Davis, California in 2004, Sierra Energy is a waste gasification company that has developed the FastOx gasification technology to turn almost any waste into renewable energy and fuels without burning.
Sierra Energy will utilise the proceeds to commercialise its gasification technology
Sierra Energy said that the funding would help the further development and commercialisation of its advanced gasification technology.
The FastOx technology developed by Sierra Energy is supported by grant funding from the US Department of Defence and the California Energy Commission.
The technology makes use of oxygen and steam to heat waste at 4,000°F (2,200°C), where the waste breaks down at the molecular level and converts organic material into an energy-dense syngas.
Sierra Energy said that the process can be scaled to large size, which not produce process emissions and also allows the recovery of inorganic material as either a non-leaching stone or molten metal.
In addition, the gasification technology is capable of handling nearly any type of waste, including municipal solid waste, plastics, medical waste, e-waste, tires, batteries, railroad ties, and even hazardous wastes.
Sierra Energy CEO Mike Hart said: “We are very excited to work with partners like Breakthrough Energy Ventures and Cox who invest in innovative technologies that reduce greenhouse gas emissions on a global scale. The world is drowning in trash which, when landfilled, is a leading generator of methane, a greenhouse gas that is 86 times more harmful to our climate than carbon dioxide.
“Our FastOx gasification technology can efficiently and cost-effectively convert this trash into electricity, hydrogen, renewable natural gas, diesel, ammonia, and a variety of other valuable end-products. When you combine our technology with recycling and other waste diversion strategies, you have the solution to the world’s waste problem as well as a valuable source of renewable energy.”