Bioenergy Devco secures $100 million to reduce organic waste and produce clean energy

ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 15 — Annapolis, Maryland-based Bioenergy Devco uses anaerobic digestion to produce renewable natural gas and sustainable fertilizer for plants while sequestering the methane and carbon. 

The process uses microbes in oxygen-less tanks to break down organic materials such as food and animal waste. Bioenergy manages 240 anaerobic digesters in 140 facilities, mostly in Europe. 

The investment from L.A.-based Irradiant Partners will allow Bioenergy to build more digesters in the U.S., which is responsible for about 206 billion pounds of food waste annually. The company has built more than 20 anaerobic digesters in the U.S. since 2019 and has facilities under construction in Delaware and Maryland.

“There are nearly 10,000 anaerobic digesters in Germany alone. Here in the U.S., we have a few hundred,” Bioenergy’s Shawn Kreloff told ImpactAlpha. “Our plants can take in about 100,000 to 200,000 tons of waste each annually, which is a big opportunity.”

The flagship facility in Maryland is part of a partnership with Maryland Governor Larry Hogan, which aims to cut carbon emissions in the state in half by 2030. Building anaerobic digestion facilities to meet Maryland’s goals could generate more than $500 million in investments, 4,222 new construction jobs, and 280 permanent jobs, according to the American Biogas Council

The U.S. Environmental Protection Agency highlighted anaerobic digestion as key to the Biden Administration’s plan to reduce methane emissions by 30% by the end of the decade (for context, see “The sky-high value of cutting methane emissions is attracting policymakers – and investors).