Cowboy Clean Fuels, a Greenwood Village, CO-based climate tech and energy transition company, raised approx $13M in Series B funding.
The round was led by Machan Investments, the family office of former energy executive Dan Dinges. Combined with $7.8M in Energy Matching Funds (EMF) from the Wyoming Energy Authority (WEA), this capital will support the development of CCF’s first commercial project in Wyoming, the Triangle Unit Renewable Energy and Carbon Capture and Storage (TRECCS) Project.
Founded in 2020, and led by CEO Ryan Waddington, CCF utilizes depleted Coal Bed Methane (CBM) wells and infrastructure in Wyoming’sPowder River Basin to generate carbon-negative RNG from agricultural byproducts. These byproducts are converted into CO2 and renewable methane through a biogenic process in deep, geologic coal formations. The commercialization of this technology, termed “Biomass with Carbon Removal and Storage, plus Renewable Natural Gas (BiCRS+RNG),” represents a scalable, capital-efficient solution in the renewable energy sector.
FinSMEs
22/07/2024