Houston-based Waste Management and Valero Energy Corp. have invested in Terrabon, a company that converts biomass into fuel. According to a press release, Waste Management’s and Valero’s investments “will be used by Terrabon to advance the scalability of [its] technology.”

“We see waste as a resource to be recovered in a way that protects and enhances the environment, and this investment in Terrabon, together with Waste Management’s other renewable energy initiatives, will help move Waste Management toward meeting two of its sustainability goals: doubling its renewable energy production and investing in emerging technologies for managing waste,” said Carl Rush, vice president of organic growth at Waste Management, in a press release.