Ze-gen Inc., a Boston-based developer of gasification technology, has raised $2.5 million in venture debt from Pinnacle Ventures. Ze-Gen is attempting to convert municipal waste streams into synthetic gas and generate both low-emissions electricity and renewable energy credits. It had previously raised around $8 million in VC funding from Flagship Ventures and Vantagepoint Venture Partners.
Ze-gen, Inc., a clean energy company providing advanced gasification technology to convert municipal waste streams into synthesis gas and generate low emissions electricity and renewable energy credits, announced that it has closed a $2.5 million venture term debt facility with Pinnacle Ventures, L.L.C. of Palo Alto, California.
“We're confident in the design and technology that we've witnessed at the Ze-gen test facility in
The increasing volume of solid waste is a global problem with lasting effects. In the
“Pinnacle Ventures' support represents an important milestone for Ze-gen. As we begin the process of launching our full-scale commercial operations, the confidence and backing of Pinnacle is a coveted endorsement we are proud to secure,” said Bill Davis, Ze-gen's CEO and President.
To date, Ze-gen has raised over $8 million in financing from a range of leading clean energy institutional investors, including Pinnacle Ventures, Flagship Ventures, VantagePoint Venture Partners, the Massachusetts Technology Development Corporation, and the Massachusetts Renewable Energy Trust. Ze-gen held a ribbon-cutting ceremony at its large-scale demonstration facility in
About Ze-gen, Inc.
Ze-gen was founded in mid-2004 to develop and deploy advanced gasification technology which converts municipal waste streams into synthesis gas with virtually zero emissions. In addition to the environmental problems associated with conventional means of waste disposal, there is considerable energy content in ordinary waste streams. Industry data suggests that in the
About Pinnacle Ventures
Pinnacle Ventures is a private venture capital fund focused on providing debt and equity financing to early-stage companies. Pinnacle differentiates itself through the strength and diversity of its team, its broad range of investment alternatives, its creative and flexible structures, its thoughtful responsiveness, by taking a long term perspective with respect to its investments and by helping its portfolio companies achieve success. The company is located in