Southampton, UK based on-site anaeoribc digestion technology developer, SEaB Energy, is expected to secure fresh funding and seal new customer orders as it joins the latest Clean + Cool trade mission to San Francisco week.
SEaB explained that along with twenty other UK cleantech companies will join the + Cool Mission 2017 which is backed by Innovate UK, the government’s innovation agency, and is designed to help CEOs explore cross boarder opportunities, find faster routes to market and discover ways to overcome some of the toughest challenges facing early stage businesses.
Speaking, prior to leaving for the company’s third Clean + Cool Mission, Sandra Sassow, SEaB Energy’s CEO and Co-Founder, said:
“Energy and waste are two of the biggest challenges that face cities around the world today. And let’s not forget how precious water is. Today, these are all managed centrally, requiring large facilities and expensive infrastructure.
“So, imagine a city where organic waste can be transformed into heat, energy and water, directly on site where the waste is produced, and where there is no requirement for garbage trucks, power lines or even water and sewer pipes,
“This vision, coupled with our patented technology, is not only now becoming highly appealing to cities and municipalities, but also to large corporates who can realise an attractive on-going revenue potential from their waste.”
Energy’s patented ‘Power in a box’ small-scale power plant turns food and organic waste into energy, water and fertilizer directly on the site the where the waste is produced. This is said to eliminate the costly, and harmful, movement of waste and provides the waste producer with a continuous revenue stream that will achieve payback in less than two years.
According to the company, the US market is now proving very lucrative for SEaB Energy due to the growing economic and environmental benefits of on-site waste to energy technology. Consequently, the SEaB said that it will shortly be announcing a number of new customer deployments, including a system in Manhattan, and two further installations in Minnesota.
To realise this growth, the company is in the short term looking to further employ convertible debt funding to meet its immediate financing needs.
Furthermore, in 2017, the company said that it will launch an equity funding round, and will seek new capital from external investors to strengthen its financial capabilities and enable it to further invest in R&D, deploy pilot units in new geographical or vertical markets, and strengthen its team.
The company has appointed Ikarus Capital to advise it on these capital raising activities.
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