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Aries Clean Energy raises funds for waste-to-fuel projects

Aries Clean Energy builds gasification plants that convert garbage into biogas for clean combustion and biochar, which can be used for fuel, soil amendment and to filter liquids or gases.

Aries raised $21.4 million in new equity largely from existing investors and an additional $25 million from Spring Lane Capital for equity in future projects. Aries has plants in Alabama, Georgia and Tennessee.

Its latest, in Lebanon, Tenn., makes enough gas to produce 1.8 million kilowatt-hours of electricity a year at full capacity.

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