Emvolon lands $22M Series A to build modular biomethanol system
In Massachusetts, Emvolon, Inc. announced its $22 million Series A funding round, with participation from MassVentures, VX Ventures, Wagner Carbon, and others. Eric Bensaude will also be joining Emvolon’s Board of Directors as a key advisor to scale global biomethanol production. With the funds, Emvolon will deliver its first commercial-scale modular chemical system converting waste methane into biomethanol and scale the organization.
This first commercial system builds on their successful pilot with Montauk Renewables, scaling up to 50 thousand tons per year across multiple sites through their joint venture. Following the Montauk deployment, Emvolon will deliver its modular plants at additional waste gas sites across North America and key international markets. Under a multi-year definitive agreement for first purchase option, up to $450M of Emvolon biomethanol and liquid fuels will be sold into Freepoint Commodities’ global physical distribution network to target growing market demand from maritime shipping, aviation, heavy transport and specialty chemicals.
Category: Fuels
