NAPLES, FL – Meridian Bioenergy Inc. has raised $800,000 toward a targeted $18 million equity raise, according to a regulatory filing. The company uses food processing and industrial waste products to make biomass fuel.
Through an advanced form of Anaerobic Digestion – a proven technology that has existed for more than 200 years – Meridian utilizes common wastes generated from food processing and various industrial applications that would otherwise be disposed of at landfills, incinerated, or treated in wastewater treatment plants.
This “feedstock” is processed with Anaerobic Digestion. With little or no secondary treatment, biogas is produced utilizing “off the shelf” equipment that fuels generators to produce electricity or is treated and purified into “green” natural gas.
On its website, the company notes:
- energy used for the production of the perfectly edible food that is discarded each year in the U.S. exceeds what is extracted annually from our offshore oil and gas reserves.
- 16% of energy consumed in the country is used to produce food yet more than 25% of food is wasted each year.
- 30 million tons of food waste is disposed in landfills each year and less than 3% is diverted for energy production or composting.
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