Enertech Environmental is one of a new generation companies that promises to use waste matter and byproducts from municipalities to help create renewable fuel.
The company's patented process, called SlurryCarb, uses biosolids (a nice way of referring to the congealed stuff in our sewers) to produce biofuel.
Based in Atlanta, Georgia, Enertech's only existing processing facility is a Rialto, Calif. facility that processes 683 tons of of waste matter per day. The facility was completed with $160 million from private equity and bond sales.
The $42 million funding was co-led by Citi Sustainable Development Investments and Masdar Clean Tech Fund. Nimes Capital and CNM also participated in the round.