Vertus Energy secures €8.75m seed funding to drive delivery of European renewable energy agenda
- Proven technology receives further backing from global to scale carbon negative energy production, set to revolutionise the Waste-to-X* sector.
- New funding powers expansion, aligning with ambitious EU targets, making biomethane more economically viable and accessible, contributing to the global transition towards a more resilient, versatile and sustainable energy system;.
- Expansion secures path to first commercial scale unit in Europe.
London, UK, GMT 27 June 2024: Vertus Energy – a Waste-to-X* industrial biotech startup specialising in advanced control of bacteria behaviour – has closed a EUR 8.75 million seed funding round, it was announced today.
The funding, led by prominent global investors Energy Capital Ventures®, joined by Blackbird, the Amadeus APEX Technology Fund and Aussie Angels, alongside all their existing investors, will be used to scale the firm’s flagship product, BRIO, into pilot projects.
BRIO – a product of extensive research and development – is a revolutionary biogas technology that:
- Generates biomethane up to 3 times faster than currently possible
- Boosts energy production by up to 60% from the same amount of waste
- Is flexible, having the potential to service the entire industry, at every scale
- Easily retrofits into existing anaerobic digestion plants
- Is highly adaptable to diverse systems – controls existing bacteria rather than by introducing new bacteria, enabling the potential to utilise any waste stream.
The new funding will be directed towards accelerating the adoption of the BRIO technology in commercial units across various applications, from full scale wastewater treatment plants to the large-scale biogas plants, that are integral components of the renewable energy ecosystem.
The global biogas market is projected to grow at around 5.2% annually from 2020 to 2030, reaching $86.7 billion by 2030. Europe is expected to be one of the major players in this field, having set biomethane production targets to reach 35 billion cubic metres (bcm) per year by 2030.
Vertus Energy is a Waste-to-X industrial biotech startup specialising in advanced control of bacteria behaviour. Encouraged by the region’s ambitious biomethane production agenda, the company made the strategic move of establishing its regional HQ in Vienna, Austria, to expand influence across the breadth of Europe and the UK, where existing AD plant infrastructure increased by 30% to reach a total of 1,322 biomethane-producing facilities by April 2023.
Leading the operations from the UK, Co-founder and COO, Benjamin Howard will focus on delivering Vertus Energy projects across Europe and implementing a strategy for global commercialisation.
“Vertus Energy is determined to radically improve access to sustainable energy and help Europe meet its renewable energy objectives,” he says. “Thanks to the backing of our proprietary BRIO technology by world-class investors, we’re able to deliver some key objectives.
“We’ve already established relationships with global players, who have recognised how the technology can help them to meet their renewable energy goals and are genuinely excited by what we can deliver. It’s an incredible time for us as we partner with companies to pursue an enormous common benefit, impacting on global energy equity, sustainability and resilience. BRIO is the first of many innovations we’re working on; but our purpose remains the same. ‘Delivering Energy Justice for All’.”
Vic Pascucci, Managing General Partner and Cofounder of Energy Capital Ventures, comments: “As the only venture capital fund solely dedicated to green molecules™, we have devoted the last several years to analysing technologies and start-ups in biogas, biomethanation and renewable natural gas. It was abundantly clear from our exhaustive due diligence that Vertus Energy’s technology, commercial progress and team were far superior to anything in the market. We backed Vertus Energy because they have a fantastic team, clearly demonstrative technology and verifiable results that vastly surpass competitive options.”
For Wolfgang Neubert, General Partner at the Amadeus APEX Technology Fund, it was the scientific data that drew them to invest. He comments: “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 that are not only driven by innovation but also committed to sustainability. Looking through a long-term lens, 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.”
