Md.-based clean energy firm rakes in $106 million in equity funding

A clean energy company headquartered in Columbia has raised $106 million in new funding to support continued growth in Maryland and throughout North America.

Bioenergy Development Co. earned the private equity investment from Newlight Partners LP, a fund recently spun out from the Strategic Investments Group at New York’s Soros Fund Management LLC. The round is the largest raised by any company in the state so far this year.

Shawn Kreloff, Bioenergy DevCo’s CEO, said the company plans to use the investment funding to develop several new anaerobic digestion facilities in North America. Through its facilities, Bioenergy DevCo is able to transform organic waste into renewable natural gas and an organic soil additive, to reduce landfill waste and carbon emissions. The company works with municipalities that have multiple organic waste streams, as well as corporate entities that produce large amounts of waste. It is looking grow its North American footprint in the coming year.


Read the full story from the Washington Business Journal.

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