Renovare raises funds to turn landfill waste into renewable biofuels

In the UK, ESG Today reported that 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.

Matthew Stone, Chairman at Renovare Fuels, said: “Securing this sustained funding will allow Renovare Fuels’ modular technology to be utilized at sites across Europe and beyond, with strong returns on investment as we continue to scale-up this pioneering technology at pace.”

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