Waste Management has made an investment in Germany-based Agnion Energy Inc., which uses gasification technology to produce synthetic gas from biomass feedstock. The amount of the investment was not disclosed.
According to a Waste Management press release, 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.”
“Waste Management wants to maximize the value of the materials it manages,” said Tim Cesarek, managing director of organic growth at Waste Management, in the press release. “Agnion’s technology complements Waste Management’s advancement of thermo-chemical conversion technology platforms and could enhance our suite of waste processing options.”
Other investors in Agnion include Kleiner Perkins Caufield Byers, Munich Venture Partners and Wellington Partners, according to Waste Management.
Last week, Waste Management announced that it had made an investment in Wilmington, Del.-based Peninsula Compost Co., which is the owner and operator of the Wilmington Organic Recycling Center. The center makes compost and processes approximately 300 tons of organic waste each day.
In September 2010, Waste Management purchased a majority interest in Cleveland-based Garick LLC, a manufacturer of organic lawn and garden products. Waste Management also has invested in Harvest Power, which uses anaerobic digestion to produce biogas from organic waste; in Enerkem, which converts waste into biofuels; and in Terrabon, which creates high-octane fuel from food and yard waste.
• Waste Management Announces Strategic Investment in Agnion (press release)