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Vespene Energy Closes $4.3 Million Funding Round Led By Polychain Capital To Pioneer Carbon-Negative Bitcoin Mining Using Captured Landfill Methane

Aug 09, 2022•almost 3 years ago

Amount Raised

$4.3 Million

Round Type

seed

BerkeleyCryptocurrencyBlockchainRenewable EnergyEnergy

Description

Vespene Energy, a methane mitigation company, today announced the close of a $4.3M financing round led by Polychain Capital, and joined by a number of climate-focused funds. Vespene installs highly efficient micro-turbines on municipal landfills to convert waste methane into electricity to power a variety of on-site uses, the first of which will be Bitcoin mining data-centers. Vespene's immediately deployable, and highly scalable technology, enables municipal landfill operators to monetize an otherwise stranded asset while reducing harmful greenhouse gas emissions.

Company Information

Company

Vespene Energy

Location

Berkeley, California, United States

About

By using wasted methane to power Bitcoin mining, Vespene is killing two birds with one stone – mitigating harmful GHG emissions and helping transition Bitcoin mining toward carbon-neutral and carbon-negative energy sources.This financing round will enable Vespene to launch its pilot site in California, making it the first company to convert wasted landfill methane into Bitcoin.For more information on Vespene's innovative solution, visit vespene.energyAbout Vespene EnergyVespene Energy is a Berkeley, CA based company focused on the intersection of Bitcoin, Climate and Energy. The company can be viewed as a methane mitigation company, a low energy cost Bitcoin mining company, and a long term renewable energy infrastructure developer. About PolychainPolychain Capital, founded in 2016 by Olaf Carlson-Wee, is a premier investor in cryptocurrency protocols and companies which utilizes its highly crypto-native team through a hands-on, participatory approach towards investments with the goal of accelerating global adoption of crypto.SOURCE Vespene Energy