Barcelona-based Waste to Energy Advanced Solutions (WtEnergy) has successfully secured $11.8 million in a new financing round to accelerate its clean energy mission. This significant capital injection is destined to drive the execution of the company’s extensive project pipeline and standardize its modular plant designs. Furthermore, the funding will support organizational growth and the development of innovative syngas applications as the firm expands across the European market.
High-Profile Backing from Industry Leaders
The investment round was led by SC Net Zero Ventures, a specialized Climate Tech fund managed by Suma Capital that focuses on scaling high-growth companies. Industrial heavyweights Shell Ventures and Cemex Ventures also participated, alongside other existing shareholders committed to the company's vision. CEO Andrés Ponce noted that this milestone validates their technology's potential to transform industrial waste into a competitive, low-carbon energy source.
Pioneering Gasification for Industrial Decarbonization
Founded in 2017, WtEnergy utilizes proprietary thermochemical conversion technology to address the dual challenges of waste management and rising energy costs. Its atmospheric gasification process converts solid biomass and industrial residues into versatile synthesis gas, or syngas, within a bubbling fluidized bed gasifier. This clean energy alternative can directly replace fossil fuels in heavy industries or be refined into hydrogen and sustainable aviation fuel.
Modular Solutions for a Circular Economy
The company specializes in small and medium-sized modular plants ranging from 5 to 50 MW, which are designed for seamless integration into existing industrial facilities. By recovering energy from waste that would otherwise be destined for landfills, these plants help clients significantly lower their carbon dioxide emissions. This decentralized approach allows sectors like cement, paper, and chemicals to optimize their energy costs while advancing circular economy objectives.
Expanding Footprint and Future Outlook
A major highlight of WtEnergy's recent success includes a $5.1 million European Union grant awarded in 2023 for a landmark project at a cement plant in Alicante. This initiative, developed in partnership with Cemex, serves as a "first-of-a-kind" model for the cement industry by using syngas to replace petroleum coke. With the new funding, the company is poised to replicate this success across Spain and the wider European continent.
The successful funding round positions WtEnergy as a pivotal player in the transition toward a more efficient and low-carbon industrial model. According to Natalia Ruiz of Suma Capital, the company’s proven industrial traction and scaling potential make it an ideal candidate for driving the energy transition. As WtEnergy strengthens its organizational structure, it remains focused on offering the industry a viable path toward sustainable and cost-effective production.
Source: Eu.Startups