Sustainable fuels startup Renovare Fuels announced the launch of a $7.6 million equity raise, with proceeds aimed at supporting projects to produce advanced renewable biofuels from waste.
Founded in 2015, UK-based Renovare provides a technology that turns biodegradable waste from homes and industry into advanced renewable biofuels. The technology captures gases produced from organic matter on landfill sites and converts them into liquid biofuels that act as a direct ‘drop in’ replacement for diesel, petrol and aviation fuels, with no requirement for engine modifications, according to the report.
The launch of the new financing round follows Renovare’s announcement of a new $11.4 million biofuels plant in Northern Ireland, expected to produce 1.8 million liters of advanced renewable biofuels.
Tags: Biofuels, Renovare, Waste
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