Climate Insider Brief:
- Vertus Energy, an Austrian waste-to-energy startup, has secured €8.75 million in seed funding led by Energy Capital Ventures, with participation from other global investors.
- Vertus Energy’s technologies, BRIO and BODA, enhance biogas production and carbon sequestration.
- With the global biogas market projected to grow significantly, Vertus Energy aims to contribute to Europe’s renewable energy goals.
Vertus Energy, an Austrian industrial biotech startup focused on converting waste into energy, has successfully closed a €8.75 million seed funding round. The round was led by global investors Energy Capital Ventures and included participation from Blackbird, Amadeus APEX Technology Fund, and Aussie Angels, along with existing investors.
The company plans to utilize the newly acquired funds to scale its flagship product, BRIO, into pilot projects. This development comes at a time when the global biogas market is expected to grow at a rate of 5.2% annually, reaching $86.7 billion by 2030. Europe is positioned as a major player in this sector, with biomethane production targets set at 35 billion cubic meters per year by 2030.
Addressing Global Energy Challenges
Vertus Energy aims to revolutionize the biogas market through the advanced control of bacteria behavior. The startup’s mission is to leverage all available resources, including waste, to achieve 100% renewable energy. The company’s technologies, BRIO and BODA, are designed to significantly enhance the efficiency and sustainability of biogas production.
Founded by Dr. Danilo Perez, Freddy Gonzalez, Benjamin Howard, and Santiago de los Reyes, Vertus Energy has developed BRIO, a modular hardware unit that can be retrofitted to anaerobic digestion plants. This technology enables a 60% increase in energy generation, three times faster than traditional methods. Additionally, BODA is a carbon sequestration and conversion technology that can upgrade biogas into biomethane or convert raw CO2 into renewable natural gas.
Leadership and Vision
Co-founder and COO, Benjamin Howard, emphasized Vertus Energy’s commitment to improving access to sustainable energy and supporting Europe’s renewable energy goals. “Thanks to the backing of our proprietary BRIO technology by world-class investors, we’re able to deliver on key objectives,” Howard stated.
Vic Pascucci, Managing General Partner and Cofounder of Energy Capital Ventures, highlighted the uniqueness of Vertus Energy’s technology and team. “Our due diligence made it clear that Vertus Energy’s technology, commercial progress, and team were far superior to anything in the market,” said Pascucci. “We backed Vertus Energy because they have a fantastic team, clearly demonstrative technology, and verifiable results that vastly surpass competitive options.”
Wolfgang Neubert, General Partner at the Amadeus APEX Technology Fund, added, “We were impressed by Vertus’ commitment to deep-tech innovation and their solid foundation of scientific data. It aligned perfectly with our focus on supporting companies committed to sustainability. We are excited by BRIO’s potential for further advancements in the biogas market and look forward to uncovering those broader possibilities with Vertus being positioned at the forefront of the sustainable energy push.”
Looking Forward
With strong backing from global investors and a firm commitment to sustainable energy, Vertus Energy is poised to make a significant impact in the biogas market. By enhancing biomethane production and carbon sequestration, the company contributes to Europe’s renewable energy goals and the broader global transition to sustainable energy.
News Source: Tech Funding News
Featured Image: Credit: Vertus Energy
