Danish start-up BioGasol has raised €5m in new equity financing and received a confirmation of €10m grant allocation from The Energy Technology Development and Demonstration Program (EUDP), part of the Danish Energy Agency.
The company, which is a spin-out from the Technical University of Denmark, has created a pre-treatment reactor design for the controlled conversion of lignocellulosic materials, such as agricultural waste and wood, into replacements for conventional fuels and other oil-based materials.
Established in 2008, Unipension is a co-operation between the Architects’ Pension Fund, the Pension Fund for Danish MAs, MSc’s and PhD’s and the Pension Fund for Agricultural Academics and Veterinary Surgeons, serving 100,000 members.
Niels Erik Petersen, CIO of Unipension, said, “We have for some time monitored BioGasol and the substantial progress it has made. We are particularly impressed by the recent development of the Company and its ability to achieve early commercial traction.”
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