Clean Energy Enterprises, the holding company of awaste-to-hydrogen project developer based in Long beach, California, hasmandated a financial advisor to raise equity for early-stage development, CEO Jean-LouisKindler said in an interview.
Costigan Capital Partners, of Vancouver, Canada, has beenretained to raise an early round of $5m, Kindler said. That liquidity, split evenlybetween a demonstration project in California and operations, will last aboutone year.
Clean Energy is the holding company of WaysH2, which is thecompany developing the projects.
Next year Clean Energy will conduct a raise of equity anddebt between $30m and $50m, Kindler said.
Clean Energy, which is owned by five founding partners and earlyfriends-and-family backers, is also narrowing options for the first WaysH2 commercialproject in the US, Kindler said. The company has a client that will use hydrogenfor municipal transportation in the southwest.
The group has a relationship with Spanish EPC firm TechnicasReunidas and plans to pursue another demonstration project in either Spain or Portugal.
The technology play is waste-to-hydrogen at landfillprojects to serve end users in local mobility and waste processing energyrequirements.
He pointed to California’s SB 1383 regulations, which mandatesa reduction of organic waste disposal by 75% by 2025.
“It will be used locally,” Kindler said of the hydrogen. Thecompany is also in discussions with foreign ammonia producers. “We want to beclose to our clients.”
