Ze-gen, a gasification technology company, has raised $20m in Series B financing, which will go towards commercialising the company’s technology. Omar Zawawi Establishment led the financing through one of its group companies called Waroz Holding Company, which included Flagship Ventures, VatagePoint Venture Partners and Massachusetts Technology Development Corporation.
‘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,’ said Jim Matheson, general partner of Flagship Ventures and chairman of the board at Ze-gen. ‘We are pleased to have Waroz join the Board as they represent the type of partner which can help drive Ze-gen¹s technology into the global markets,’ added Matheson.
The Series B Round will also support next generation research and development activities at the company’s demonstration facility in Massachusetts, US, according to a statement.
Bill David, Ze-gen’s CEO, said, ‘The urgent need for advanced solutions for dealing with global waste continues to grow. This support of world-class partners will help us accelerate our commercialisation efforts.’
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