USA: $75 million in fund raised to transform cow manure into fuel for heavy-duty trucks
EIV Capital raised the funding to finance research for turning dairy cattle’s recycled cow manure into usable, clean energy products.
The funding raised by EIV Capital, a Houston firm that invests in energy businesses, will be used by Amp Americas, a Chicago-based startup researching how to transform animal waste and convert it into biogas to later sell the biogas to trucking fleets.
“EIV has been a fantastic partner in project development, and we’re excited to embark on our next round of development with them,” said Grant Zimmerman, chief executive officer of Amp Americas in a press release.
Amp Americas will use the funding to build two new dairy renewal natural gas facilities, doubling its capacity to produce energy from cow manure. The company is set to break ground on the two additional midwestern dairy biogas projects set to begin operations in the fall of 2020.
The capital commitment was led by EIV Capital, but also included participation from existing Amp Americas investors.
Amp Americas creates renewable natural gas products for California trucking fleets, including UPS, under the low-carbon fuel standard. The company also operates 20 CNG stations across the United States, accessible by Class 8 trucks, and located near major trucking corridors.
