Formica Ventures leads a $33 million Series A investment in Sierra Energy Corporation to further develop its innovative FastOx® waste-to-energy technology.

Target Information

Formica Ventures is participating in a Series A funding round of $33 million for Sierra Energy Corporation, a company based in the United States. The venture capital firm Breakthrough Energy Ventures leads this investment round, which also includes a consortium of international investors such as Cox Investment Holdings Inc., BNP Paribas SA, Twynam Investments Pty Ltd, and The March Fund I LP. The total funding of $33 million will support the further development of Sierra Energy's FastOx® technology on an industrial scale.

Sierra Energy Corporation, established in 2004 and headquartered in Davis, California, is dedicated to waste gasification. Its FastOx® technology effectively converts waste into clean and renewable energy without incineration, utilizing proven smelting technology. By using oxygen and steam, FastOx® gasification heats waste to extremely high temperatures, breaking it down at a molecular level. More information can be found at www.sierraenergy.com or by following Sierra on Twitter at @FastOx.

Industry Overview

The waste management and energy sectors in the United States are undergoing significant transformations as the nation increasingly focuses on sustainability and reducing carbon emissions. This shift has prompted innovative technologies to emerge, particula