Advanced Plasma Power has entered into a partnership with Leveraged Green Energy, a private equity fund focused on investing in renewable energy assets, to deploy APP’s Gasplasma techno
Advanced Plasma Power has entered into a partnership with Leveraged Green Energy, a private equity fund focused on investing in renewable energy assets, to deploy APP’s Gasplasma technology across a number of international markets.
APP has developed waste to energy technology using plasma arc processing to produce a clean hydrogen rich gas from municipal and commercial waste. This fuel gas is used in gas engines/gas turbines and can be used in fuel cells for highly efficient production of renewable power. The fuel gas can also be converted into liquid fuels such as Methanol.
The Gasplasma technology is ready for commercial deployment and the partnership with LGE will open up markets in Central and Eastern Europe and Canada.
LGE was established in 2007 to focus on projects involving renewable energy and recycling and on investments in energy related technologies. It has chosen the markets of Central and Eastern Europe and North America, especially Canada as its preferred domain of investments.
‘We are very excited to be joining forces with APP to be able to integrate this technology and to position LGE for the decreasing global dependency of energy from fossil fuel and the tightening health and environmental regulatory requirements regarding waste management for Europe 2020 and beyond,’ says Robert M. Clark, chief operating officer of LGE.
APP and LGE have established a joint venture which has an exclusive licence to exploit the Gasplasma technology by developing waste to energy plants in Central and Eastern Europe and Canada. The joint venture has already negotiated a number of potential projects in Southeast Europe and in Canada.
As part of the partnership and in consideration for the grant of the exclusive licence, LGE is investing USD10m directly in APP for a ten per cent share in the business.
