Gasification Effort Receives Funding

Boston-based Ze-gen, Inc., which has developed gasification technology for converting waste streams into synthesis gas, has announced the raising of $20 million in financing. The funds will be used to commercially deploy Ze-gen’s technology, according to the company.

The Series B round of funding will finance the acceleration of Ze-gen’s commercialization efforts as well as support next generation research and development activities at the company’s demonstration facility in New Bedford, Mass. “The urgent need for advanced solutions for dealing with global waste continues to grow,” says Bill Davis, Ze-gen’s CEO and president.

Omar Zawawi Establishment (Omzest Group of Oman, a Middle East-based global industrial conglomerate) through one of its group companies called Waroz Holding Co., led the financing with existing investors, with Flagship Ventures, VantagePoint Venture Partners, and Massachusetts Technology Development Corp. also participating.

“This support of world-class partners will help us accelerate our commercialization efforts,” says Davis.

“This financing further validates Ze-gen’s industry-leading technology, which offers an environmentally sustainable solution to both solid waste management and distributed energy generation,” says Jim Matheson, general partner of Flagship Ventures and board chairman of Ze-gen. “We are pleased to have Waroz join the board as they represent the type of partner which can help drive Ze-gen’s technology into the global markets,” adds Matheson.

K S Cheema, executive director of the Omzest group remarks, “We are proud to be part of the company [that] is endeavoring to help solve solid waste management and shortage of energy problems simultaneously. We truly believe that Ze-gen has the technology, capability and vision to achieve its objectives and we wish to participate in that vision. We are confident of the success of Ze-gen’s technology.”

Ze-gen has been developing gasification technology for converting wood debris and other solid waste streams into a synthesis gas (syngas) mixture of carbon monoxide and hydrogen gas. The resulting syngas is a renewable fuel that can be used to offset the consumption of fossil fuels in conventional power and industrial boiler facilities, according to the company.

The company’s goal is to operate full-scale commercial facilities in the United States by 2012. Those seeking more information on Ze-gen can visit the company’s Web site at www.ze-gen.com.