The capital injection will allow WtEnergy to expand its solution for the transformation of biomass and non-recyclable waste into renewable energy and promote gasification projects in different industrial sectors.
CEMEX cement company increases the use of renewable energy in cement production through this strategic investment, aligned with the objective of reducing the use of fossil fuels by 20% before 2030
This investment establishes COPISA as a reference partner in the construction and implementation of solutions aimed at decarbonizing the industry.
Inveniam group has been the lead advisor in this transaction. Inveniam has supported WtEnergy during the investment round of SERIES A.
WtEnergy Advanced Solutions -WtEnergy-, the technology company specialized in advanced solutions to transform biomass and non-recyclable waste into clean energy, has closed an investment round that will accelerate its growth and scalability globally. CEMEX, S.A.B. de C.V. (“CEMEX”) and CEMEX Ventures, the company’s corporate venture capital, the open innovation unit, and the construction company COPISA have participated in this latest round of this investment.
The capital injection will allow WtEnergy to consolidate its development and accelerate its growth and penetration in the international market of its own gasification technology in industrial sectors such as cement, food, and chemicals, among others. WtEnergy’s advanced energy recovery solution, which converts non-recyclable waste and biomass into Syngas to produce clean energy, offers an alternative source of renewable and sustainable energy.
CEMEX validates the WtEnergy solution in its operations, which would allow it to substitute fossil fuels for low-emission alternative fuels in a cost-effective manner. The cement company intends to incorporate this renewable energy source in its clinker and cement manufacturing process, further reducing the carbon footprint of its operations. CEMEX outlines an ambitious strategy for the gasification of alternative fuels in cement production, which will start with Spain and other European countries. This strategy is aligned with CEMEX’s objective to substitute an additional 20% of fossil fuels before 2030, to decarbonize the clinker and cement production processes by up to 40% by the end of the decade, and to become a company with zero CO2 emissions by the year 2050.
According to Andrés Ponce, co-founder and CEO of WtEnergy, the capital injection by CEMEX and COPISA will allow “expanding our advanced technology to improve waste management and provide a clean, sustainable and safe source of energy, in a context of high demand and energy crisis. We are very pleased to have such powerful partners, leading companies in their sectors. The agreement is a sign of the confidence generated by the advanced WtEnergy solution, of the industrial sector’s commitment to energy sustainability, and of the need to reduce greenhouse gas emissions and contribute to a circular economy of the industry and of the cities.”
“The investment in WtEnergy is aligned with CEMEX’s strategy to find new sources of energy and clean fuels for the cement industry,” said Gonzalo Galindo, president of CEMEX Ventures. “We have developed an ambitious implementation strategy through multiple operations, starting in Spain and other European countries, before jumping into other international markets.”
According to the CEO of COPISA, Orlando de Porrata, “throughout our more than 60 years of existence we have accumulated extensive experience in the construction of civil and industrial infrastructures and, with this investment in WtEnergy, COPISA stands as a partner of reference in the construction and implementation of solutions aimed at the decarbonization of the industry, achieving energy efficiency and contributing to create a circular economy”.
WtEnergy, the key solution for a circular economy in the energy sector.
WtEnergy’s advanced energy recovery solution allows you to manage municipal or private waste in a sustainable and safe way. Through a gasification process, CleanTech’s own technology recovers valuable materials and prevents them from ending up in the landfill, which contributes to energy and economic savings, reduces greenhouse gas emissions and contributes to a circular economy in the energy sector.