Waste Management (WM)

[Steady_T]

Waste Management invests in another "Green" technology. The PR doesn't say how much money is involved or what percentage of the company they bought.

This time a biomass to Syngas outfit.
Waste Management Announces Strategic Investment in Agnion
WM (NYSE:WM)
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Today : Thursday 12 May 2011
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Waste Management (NYSE:WM) today announced a strategic investment in Agnion Energy, Inc. (Agnion) to advance Agnion's allothermal gasification technology. Waste Management joins other investors in Agnion including, Kleiner Perkins Caufield Byers, Munich Venture Partners and Wellington Partners.

(Logo: http://photos.prnewswire.com/prnh/20090219/WMLOGO)

Agnion's innovative allothermal gasification technology converts solid biomass feedstock into a high hydrogen and carbon monoxide-rich synthetic gas (syngas) with exceptionally high heating value. The syngas is ideally suited for combined heat and power applications and can be converted into liquids, hydrogen, and methanol di-methyl-ether and or substitute natural gas.

Agnion's unique and simple Heatpipe-Reformer design provides a flexible, small-scale on-site gasification technology solution for relatively low capital cost. Typical customers for this technology are end-users looking for solutions to their high heating and electricity demands, such as schools/universities, warehouses/distribution centers, shopping malls, hotels and hospitals.

"Waste Management wants to maximize the value of the materials it manages", said Tim Cesarek, managing director of Organic Growth at Waste Management. "Agnion's technology complements Waste Management's advancement of thermo-chemical conversion technology platforms and could enhance our suite of waste processing options."

Agnion CEO, Dr. Stephan Mey stated: "We view the fact that North America's largest residential recycler and leading waste and environmental solutions provider has decided to invest in Agnion and our Heatpipe-Reformer technology as a tremendous honor and a vote of confidence. Our first commercial biomass gasification plant is currently under construction in the Bavarian town of Grassau and we plan to build other plants in Europe and North America."

The investment complements Waste Management's other chemical conversion technology platforms including Enerkem, S4 Energy Solutions, Terrabon and Agilyx. This agreement will also help move Waste Management toward meeting two of its sustainability goals: doubling its renewable energy production by 2020, and investing in emerging technologies for managing waste.