InEnTec raises $20M for molecular-level waste recycling technology
By Christina Williams
Editor, Sustainable Business Oregon
InEnTec's plasma-enhanced melter process that reduces waste to its molecular components.
InEnTec Inc. announced Wednesday it closed on $20 million of a $69 million round of private capital from undisclosed investors.
The Bend-based company, which has technology to recycle solid municipal waste in addition to chemical and hazardous waste, will use the money to continue to grow its engineering staff to keep up with project development.
"We are a growth company and we're in a mode of taking on new projects," said Karl Schoene, president and CEO of InEnTec.
The company also converted from an LLC to a corporation filed in Delaware.
Between its Bend headquarters and a technology center in Richland, Wash., Schoene said the company has fewer than 100 employees. He declined to disclose the identity of the investors which he described as a mix of wealthy individuals and institutions.
InEnTec's promise has burned bright in recent years, starting with a partnership with Waste Management announced in 2009. That partnership resulted in a joint venture, S4 Energy Solutions, which last year announced plans for a project in the Columbia Gorge region that would apply InEnTec's plasma gasification technology to a plant that will convert landfill waste to multiple fuel types.
S4 is one of three joint ventures that InEnTec has a hand in. Another, InEnTec Chemical, in partnership with Lakeside Energy LLC of Oak Brook, Ill., focuses on developing facilities that use InEnTec technology to recycle chemical and hazardous waste.
InEnTec Leasing Services LLC, is a joint venture with Tepa LLC of Colorado that leases InEnTec-powered equipment for short-term needs.
The heart of InEnTec's technology is a plasma-enhanced melter that can break down materials to their elemental components such as hydrogen, carbon or oxygen.
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