Waste to Energy Advanced Solutions s.l. (WtEnergy), a Spanish developer of biomass and waste to syngas process technology has announced that it has closed an investment round that will accelerate its growth and scalability globally. Compatriot GRUPO EMPRESARIAL COPISA, S.A (COPISA), a global engineering and construction company together with Mexico-headed global construction materials major CEMEX, S.A.B. de C.V. (CEMEX) and CEMEX Ventures, the corporate venture capital unit, have joined this latest round of this investment.
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Founded in 2017, WtEnergy has developed a novel process to transform solid biomass and non-recyclable waste into synthesis gas (syngas) for industrial purposes such as a fossil fuel alternative or upgraded to gases such as biomethane (aka renewable natural gas – RNG) or pure hydrogen.
Enable international expansion
The capital injection, the value of which has not been disclosed, will allow WtEnergy to consolidate its development and accelerate its growth and penetration in the international market of its own gasification technology in industrial sectors such as cement, food, and chemicals, among others.
According to Andrés Ponce, co-founder, and CEO of WtEnergy, the capital injection by CEMEX and COPISA will allow “expanding our advanced technology to improve waste management and provide a clean, sustainable and safe source of energy, in a context of high demand and energy crisis.”
We are very pleased to have such powerful partners and leading companies in their sectors. The agreement is a sign of the confidence generated by the advanced WtEnergy solution, of the industrial sector’s commitment to energy sustainability, and of the need to reduce greenhouse gas emissions and contribute to a circular economy of the industry and of the cities, said Andrés Ponce.
Aligned with decarbonization targets
Alternative fuels are an important lever of CEMEX’s ambitious 2030 decarbonization roadmap, which has been validated by the Science-Based Targets initiative (SBTi) for alignment under its new 1.5ºC scenario, the most ambitious pathway defined for the industry.
One of the main levers for achieving its targets is using alternative fuels with high biomass content.
The investment is part of CEMEX’s Future in Action program to build a more sustainable, circular future, with the primary objective of becoming a net-zero carbon dioxide (CO2) company.
Since the launch of Future in Action, the company says that it has achieved “record-breaking” CO2 reductions. Innovation is a key component of the program.
CEMEX intends to incorporate this clean energy source into its clinker and cement manufacturing process, looking to further reduce the carbon footprint of its operations.
This strategy is aligned with the company’s objective to substitute an additional 20 percent of fossil fuels before 2030, to decarbonize the clinker and cement production processes by up to 40 percent by the end of the decade, and to become a company with zero CO2 emissions by the year 2050.
This investment aligns with our strategy to find innovative clean fuel and energy sources for the cement industry. We have outlined an ambitious rollout strategy across multiple operations, starting with Spain and other European countries before expanding to other international markets, said Gonzalo Galindo, Head of CEMEX Ventures.
According to Orlando de Porrata, CEO of COPISA, its investment in WtEnergy widens its solutions portfolio.
Throughout our more than 60 years of existence, we have accumulated extensive experience in the construction of civil and industrial infrastructures and, with this investment in WtEnergy, COPISA stands as a partner of reference in the construction and implementation of solutions aimed at the decarbonization of the industry, achieving energy efficiency and contributing to creating a circular economy, ended Orlando de Porrata.