C-Green raises SEK 5M to further expand an industrial energy waste business solution.
C-Green, a Stockholm, Sweden-based energy company providing a solution for transforming waste water into energy, announced securing SEK 5M ($620k) in investment funding.
The money comes from existing investors as well as from Almi Invest, which contributed with SEK 2M, and will be used to complete of a demo facility as well as for marketing and sales.
C-Green, founded in 2015 by Erik Odén (CEO), Fredrik Lundqvist and Fredrik Öhman, developed a solution that transforms in which wastewater sludge, industrial sludge, wet biomasses are converted into a valuable asset called biocoal. This results in zero emissions of methane gas, fewer transports and reduced carbon dioxide emissions. The process is also very energy efficient, as each kWh used by C-Greens process in turn can generate 20-40 kWh of energy in the form of biogas, electricity and heat from the energy of the sludge.
C-Green is profitable, with SEK 3.5M ($450k) in revenues accounted in 2016.