Energy Technology Ventures, a joint-venture of General Electric Company, ConocoPhillips, and NRG Energy announced today that they would be providing Israeli-based Emefcy with a cash infusion to build a waste-water-to-energy generator. Exact financial details of the investment from Energy Technology Ventures has not been released.
Emefcy’s electric generator uses naturally-occurring bacteria in an electrogenic bioreactor which in turn treats waste water. The organic material derived from the treatment process produces treated water, and power.
Emefcy notes that conventional water treatment costs an annual $40 billion dollars. With their technology, they note that they have a potential market worth up to $10 billion dollars each year, effectively turning what was once cost, into profit. Their initial targets for installation of their electric generators are within the food, beverage, pharmaceutical and chemical industries.
Emefcy has receiving funding not only from Energy Technology Ventures, but other companies that have also taken interest in Emefcy and joined in the funding. These additional companies are Pond Venture Partners, Plan B Ventures and Israel Cleantech Ventures.
Regarding the funding announcement, Emefcy’s CEO, Eytan Levy, stated “We will use Energy Technology Ventures’ investment to continue development of our technology into full-scale commercial implementation by the end of this year for municipal and industrial wastewater treatment.”
He also pointed out the benefit of his technology if implemented within the United States, “All told, wastewater treatment is a US$100 billion industry, and our technology can significantly reduce the economic and environmental costs.”