By Greentech Lead Europe: Topell Energy, a provider of
torrefaction technology solutions for the biomass supply chain, has secured
EUR13 million from a financing round led by Yellow&Blue Clean Energy
Investment Management.
“We are excited about Topell’s prospects because the
torrefaction step is instrumental in unlocking the potential of biomass for
large-scale energy production. With this investment in Topell, Yellow&Blue
is further broadening its engagement in the field of clean energy
production,” said Albert Fischer, managing director of Yellow&Blue
Investment Management.
Topell’s existing investor, Innogy Venture Capital and
other investors including Innovatie- en Investeringsfonds Gelderland B.V., a
Dutch regional development company, management team members and business angels
have also participated in the financing round.
With this investment, Topell is looking to strengthen its
business through the sale of additional plants and build up production at its
commercial-scale demonstration plant in the Netherlands.
“Topell’s proprietary torrefaction technology
transforms the low-grade biomass into
a homogenous and energy-dense fuel, which is suitable for combustion and
gasification applications. The additional financing will allow us to ramp up
production at our commercial-scale demonstration plant in the Netherlands and
to rapidly grow our business through the sale of additional plants,” said
Jules Kortenhorst, CEO of Topell Energy.
Topell has additionally signed a new partnership
agreement with the Torftech Group from the UK. Topell uses Torftech’s TORBED
reactors for its torrefaction process. The reactors enable gas and solids to be
contacted more efficiently. The company has now secured the manufacturing
rights to build and improve Torftech’s TORBED reactors for torrefaction
applications.
Topell’s torrefaction process is cost
effective and enables large-scale production of densified biofuel from
woody biomass. The company intends to sell its torrefaction technology
solutions to biomass supply chain companies around the world.