• FACSA is leading this operation in which, in addition to financial support, it will bring its technical resources and market experience
• Enagás Emprende, Enagás’ open innovation subsidiary, continues to back the start-up, which was incorporated into its portfolio in 2020
• Trovant Technology started its collaboration with FACSA last year through Lanzadera’s Corporate initiative and is developing a new technology to upgrade biogas to biomethane
FACSA, Enagás Emprende, and Trovant Technology have announced an investment agreement whereby the former two will invest in Trovant. The objective is to continue to develop new technology that improves the viability of biomethane production from biogas that comes from wastewater or organic waste. The transaction was led by FACSA, accompanied by Enagás Emprende (Enagás’ Corporate Venture Capital initiative) which added Trovant Technology to its portfolio of investees in 2020.
As a result, the start-up, which was founded in Valladolid, will have important new backers in the environmental and wastewater treatment sector. Over the next few months, Trovant will continue its technological development in the form of a new prototype that will be field tested at FACSA’s industrial facilities. The agreement comes after Trovant Technology received funding in the last NEOTEC call of CDTI.
The collaboration between Trovant Technology and FACSA started in 2020 as a result of a test that was part of the Corporate initiative by Lanzadera, the business accelerator promoted by Juan Roig. After that first moment of contact, which consisted of several weeks of testing a first prototype at the Castellón WWTP, the parties' interest has been materialised through this agreement.
For FACSA, the agreement is another step in its support for renewable gases such as biomethane and hydrogen through the use of corporate venturing tools. Ricardo Saez, FACSA's Expansion Director, points out that “this agreement is the result of FACSA's interest in the development of new technologies that help facilitate the circular economy. The commitment to Trovant is part of the line of support for start-ups and entrepreneurs that we are developing with Lanzadera's help. In this project, we are fortunate enough to be working alongside Enagás, a leading gas market company, which will play a very valuable role in the success of the project”.
Meanwhile, Enagás Emprende continues to show its commitment to decarbonisation entrepreneurship. In the words of Fernando Impuesto Nogueras, General Manager of Enagás Emprende: “Circular economy projects are one of our key focal points. We are delighted to be able to continue supporting a project as promising as Trovant and we believe that combining the experience and abilities of its team with the potential of an organisation like FACSA, in its role as an industrial market agent, is a very promising combination for the future of the project”.
Trovant Technology is very pleased with the deal, according to the co-founders: “It will allow us to take an important step forward in our technological development, and it can bring us much closer to the real world of industry by having the direct support of FACSA, a leader in the integral water cycle sector. We are very much looking forward to help initiate this dialogue between the energy and environmental sectors, which we believe will become increasingly important from now on”.