Energy Technology Ventures JV invests in Emefcy in Israel.
M2 EQUITYBITES-June 29, 2011-Energy Technology Ventures JV invests in Emefcy in Israel(C)2011 M2 COMMUNICATIONS http://www.m2.com
Developer of next-generation energy technologies Energy Technology Ventures, a joint venture of General Electric Company (NYSE:GE), NRG Energy (NYSE:NRG) and ConocoPhillips (NYSE:COP), is providing capital to Emefcy Ltd, an Israeli company that can turn wastewater treatment from a huge energy drain to an electricity generator, the company announced on Tuesday.
This is reportedly the JV's first non-US and first water-related investment. Energy Technology Ventures was joined in the funding round for Emefcy by Pond Venture Partners, Plan B Ventures and Israel Cleantech Ventures. Financial details of the investment were not disclosed.
Emefcy's technology uses naturally occurring bacteria in an electrogenic bioreactor to treat wastewater. The organic material in the waste produces power and treated water, transforming wastewater treatment from an energy-intensive, cost-intensive and carbon-intensive process, into an energy-generating and carbon-reducing process.
The investment by Energy Technology Ventures will reportedly be used by Emefcy to continue development of its technology into full-scale commercial implementation by the end of this year for municipal and industrial wastewater treatment.
The GE investment was made through business unit GE Energy Financial Services, which invests globally in energy.
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|Date:||Jun 29, 2011|
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