Sola Renner of Bloomberg New Energy Finance recently published a summary of renewable investment in the venture capital and private equity community. The article discusses where the estimated $4 billion in 2016 that will be invested in early stage clean energy companies is coming from and what types of companies are garnering interest.
Renner highlights Sierra Energy as one of the promising investments that could provide an untapped source of renewable energy. The article refers to investment received earlier this year from Steelriver Infrastructure Partners to hasten the commercialization of our patented FastOx gasifier. Steelriver is an investment management firm in northern California that specializes in infrastructure development.
This below excerpt from the article describes how Sierra Energy is leveraging Steelriver's investment to support our partners in the United States military.
The 2004-founded company will prioritize funds to build its first commercial system in partnership with the U.S. Army and the California Energy Commission at Fort Hunter Liggett, a U.S. Army Combat Support Training Center in California. Mike Hart, chief executive officer at Sierra, told Bloomberg New Energy Finance: "Our relationship with the Department of Defense began in 2008 after we received funding to demonstrate our technology could provide a solution to burn pits," a common method of burning waste, such as chemicals, munitions and petroleum in open air pits of military base sites in Iraq and Afghanistan. "We demonstrated that our technology could take the waste generated by up to 20,000 soldiers at a single location and create up to 1 megawatt of round-the-clock electricity. That is equivalent to 1,000 gallons of renewable diesel a day."