Ze-Gen is an energy company that converts municipal waste to a synthesized gas good for electricity generation.
The Boston, Mass. company sought the debt funding to finance the permitting and development fees for a new waste conversion facility.
We’ve recently written about other companies promising to turn waste into electricity, including EnerTech Environmental, which recently took $42 million for construction of a new plant.
The $2.5 million venture debt facility was provided by Pinnacle Ventures. Ze-Gen has taken over $8 million to date from Pinnacle and other firms including Flagship Ventures and VantagePoint Venture Partners.