Plasco Energy Group uses proprietary technology to convert municipal solid waste (MSW) into PlascoSyngas, clean water and construction aggregate. The produced PlascoSyngas is used to fuel engines to generate electricity with a low emissions footprint, leaving less than two percent of processed MSW for landfill disposal. The company operates an existing plant in Ottawa and cites its performance and a strong pipeline of contract opportunities as validation of its technology. Proceeds from the new financing are earmarked to fund commercial projects across Canada, the United States (California), the United Kingdom, Poland, the Caribbean, and China. Management states the capital bolsters the balance sheet and positions the company to execute multiple projects that have emerged since its prior financing. The article does not disclose revenue or other user metrics. Plasco’s core product is the Plasco Conversion System, a proprietary technology that converts municipal solid waste into electricity, clean water and clean aggregate. The company owns and operates a 100 ton-per-day plant in Ottawa and, via a joint venture with Hera Holdings, a 5 ton-per-day R&D facility in Castellgali, Spain. Plasco is developing waste-conversion facilities in North America, Europe and China and has a signed contract for a 300 tonne-per-day facility in Red Deer to be completed in 2012. The recent capital raise is intended to enable commercial delivery of its proven technology and strengthen the company’s financial base. To date Plasco has received grants and loans (including a $9.6M grant from SDTC, a $4M loan from Ontario’s Ministry of Research and Innovation and a $10M loan from Export Development Canada) alongside private equity investments. Plasco Energy developed the Plasco Conversion System (PCS), which uses plasma torches to break waste to a molecular level and recombine outputs into heat, slag, solid sulphur and a synthetic gas. The synthetic gas is used to fuel internal combustion engines to generate electricity at the company’s Trail Road demonstration facility in Ottawa. The demonstration plant, completed in June 2007, produces roughly 5.1 MW of electricity for every 85 tonnes of waste processed; 80% of power is sold to Ottawa’s hydro grid and the rest powers the facility. The facility receives $40 per tonne to divert the city’s waste and operated as a two-year trial funded by several parties including the federal government. If the benefits outweigh the costs, Plasco says more facilities of the same type may be constructed. The company moved into regular receipt of municipal waste in early 2008 as the demonstration transitioned from trial operations.

Total raised

$288M

Funding rounds

3

Latest round

Equity

Latest activity

Mar 2011