Ze-gen, Inc., the developer of a molten iron reactor gasification technology for converting waste streams into synthesis gas for use in power generation, raised $20 million in Series B financing. The funds will be used to commercially deploy Ze-gen’s technology.
Omar Zawawi Establishment (Omzest Group of Oman, a Middle East-based global industrial conglomerate) through one of its group companies called Waroz Holding Company, led the financing with existing investors, including FlagshipVentures, VantagePoint Venture Partners, and Massachusetts Technology Development Corporation also participating.
The Series B Round will fund the acceleration of Ze-gen’s commercialization efforts as well as support next generation research and development activities at its demonstration facility in New Bedford, Massachusetts.
|Ze-Gen’s gasification process. Click to enlarge.|
Ze-Gen blows waste, air and steam into a reactor containing a pool of molten iron. Steam reacts with the iron to produce iron oxide and hydrogen. Combustible parts of the waste are pyrolized, with the remaining carbon reacting with iron oxide to produce iron and CO. Together, the CO and H2 constitute the product syngas (along with CO2 and trace gases). Non-combustible portions melt to slag which can be used as aggregate or disposed of in unlined landfills.
Ze-Gen presentation (2007)