Ireland-based utility ESB's corporate venturing fund has invested $7m in Bioflame.
ESB Novusmodus, a €200m ($270m) corporate venturing fund started by Ireland-based utility ESB, has agreed its fifth deal by investing £4.5m ($7m) in Bioflame, a developer of small-scale electrical generation plants.
Bioflame turns biomass waste, such as wood, into energy. More than six million tonnes of waste wood are landfilled each year in the UK and Ireland.
Victor Buchanan, chief executive of Bioflame, said: "The combination of the project finance expertise of Novusmodus and the engineering experience of ESB makes…
