Emvolon, an MIT spin-out commercializing technology that converts methane-rich waste gases into liquid fuels and chemicals, announced a Series A funding round with participation from MassVentures, VX Ventures, Wagner Carbon and others.
With the funds, Emvolon will deliver its first commercial-scale modular chemical system converting waste methane into biomethanol and scale the organization. The system builds on a successful pilot with Montauk Renewables, scaling to 50,000 tons per year across multiple sites through their joint venture.
Under a multi-year definitive agreement for a first purchase option, up to $450 million of Emvolon biomethanol and liquid fuels will be sold into Freepoint Commodities' global physical distribution network.
The company uses internal combustion engines and off-the-shelf equipment to create scaled-down modular chemical plants deployable at waste sites, landfills, dairies, wastewater facilities and industrial flare gas locations.
Emvolon cites a premium of $1,000 per metric ton for quality, RED-III-compliant biomethanol produced at the feedstock source rather than at centralized plants.
