Growth5 Blog

Tuesday, February 15, 2011

Changing World Technologies

Growth5 Venture Capital Marketing has a new portfolio company. We recently closed a Series A investment in Changing World Technologies ("CWT").

CWT has successfully commercialized a manufacturing technology to convert food processing waste and other waste material into biofuel. Their patented Thermal Conversion Process (TCP) mimics the earth’s natural geothermal process by using water, heat and pressure to transform organic and inorganic wastes into oils, gases, carbons, metals and ash.

CWT's first commercial scale plant was built in Carthage, Missouri (photo to the left). They also have an R&D facility in Philadelphia that is focusing on converting mixed plastics into biofuel.

The biofuel that CWT creates is the equivalent of a #2 heating oil. CWT will initially sell this biofuel to large manufacturing plants and similar large facilities that will use the biofuel to heat their buildings. Due in part to the requirement that these large facilities use renewable energy at their plants (or pay hefty sums for not doing so) more than 75% of CWT's annual biofuel production capacity has been pre-sold for 2011.

We are pleased that this investment will create jobs, is great for the environment and as a side benefit, lessens our country's dependence on foreign oil.

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