Biogas Start-Up Sistema.Bio Raises USD 15 Mn For Global Expansion

ENA Sectors 2024-10-16 17:56:26 New Delhi, Oct 16 (KNN) In a significant development for the renewable energy sector, Sistema.bio, a biogas technology start-up, has secured USD 15 million in financing to support its global expansion efforts. The company, which specialises in converting agricultural waste into renewable energy for small-scale farmers, has reported a fivefold increase in sales over the past three years. The financing round was led by ElectriFI, under the management of EDFI Management Company, and was fully subscribed by Sistema.bio's existing investors. This funding is intended to facilitate various growth and diversification initiatives in preparation for the company's anticipated Series C financing round in 2025. A broad coalition of Sistema.bio's current equity investors participated in this round, including Chroma Impact Investment, KawiSafi Ventures, AXA IM Alts, Blink CV, and EcoEnterprises Fund. Additional financial support came from existing lenders FMO, Triodos, and EcoEnterprises through extensions of their current facilities. BIX Capital and the UK-based Shell Foundation, with co-funding from UK aid, provided catalytic junior debt. Joyce Cacho, Independent Board Chair, Sistema.bio, stated that this strategic investment underscores investor confidence in the company's mission to expand its transformative impact across Asia, Africa, and Latin America. Sistema.bio's innovative technology converts animal waste into clean biogas for cooking, heating, and electricity generation, while also producing nutrient-rich bio fertiliser to enhance agricultural productivity. The company utilises advanced data tracking platforms to amplify its impact, delivering high-quality carbon mitigation, sequestration, and climate change adaptation programs. These initiatives aim to contribute to the decarbonisation of agriculture and support a transition towards regenerative farming practices. Sistema.bio reports operations across three continents, having positively impacted over 100,000 farmers and more than 600,000 individuals worldwide. The company claims to reduce over 1 million tons of CO2e emissions annually. Alexander Eaton, CEO and co-founder of Sistema.bio, expressed gratitude for the continued support from ElectriFI and the company's investor coalition. He emphasised that this backing allows Sistema.bio to focus on engaging millions of farmers in the fight against the climate crisis and ensuring food security. Eaton stated that the company is now better positioned to achieve its goal of empowering one million farmers by 2025 and reducing 1% of global emissions by 2030. The newly acquired capital will be used to scale Sistema.bio's operations, enhance its biogas technology, expand its reach to more farms, and improve both technological efficiency and customer service quality. This financing is also expected to strengthen the company's position for its upcoming Series C funding round in 2025. Manoël Ancion, Managing Director, Chroma Impact Investment, expressed enthusiasm for deepening their collaboration with Sistema.bio. Ancion highlighted the importance of investing in sustainable energy solutions for smallholder farmers and emphasised the role of agriculture in combating climate change and poverty on a global scale. (KNN Bureau) 39617 https://knnindia.co.in/news/newsdetails/sectors/biogas-start-up-sistemabio-raises-usd-15-mn-for-global-expansion 2024-10-16 17:56:26 knnindia.co.in Biogas Start-Up Sistema.Bio Raises USD 15 Mn For Global Expansion