Funding will be utilized to install novel Bio-CHP systems at an U.S. Army installation to improve energy resiliency while mitigating Climate Change
FRANKLIN, Tenn. (March 28th, 2023) – Enexor BioEnergy, LLC, of Franklin, Tenn., manufacturer of a renewable energy and carbon conversion solution to help solve the world’s organic, biomass, and plastic waste problems, today announced that it has been awarded $1.8M in funding from the U.S. Army’s xTech SBIR Direct-to-Phase II program and an additional $300K in funding from the LaunchTN SBIR/STTR Matching Fund.
The xTechSBIR CleanTech was launched as part of the U.S. Army’s push to address challenges within the cleantech space and to invite small companies to partner to spur innovation. The xTechSBIR CleanTech competition was sponsored by the Assistant Secretary of the Army (Acquisition, Logistics, and Technology) to support the Army’s mission to reduce greenhouse gas emissions by 30%, by 2030. The competition was focused on seeking novel, disruptive concepts and technology solutions that have both civilian and military applications that can assist in tackling the Army’s current needs and be applied to current Army concepts while providing the Army with transformative technology solutions while enabling cost savings throughout the Army systems lifecycle.
Due to its significant alignment with the U.S. Army’s goals and its potential for significant positive sustainability impact, Enexor was additionally fast-tracked for the Direct-to-Phase II program. In addition to this funding, Enexor was subsequently awarded $300,000 in matching funds from LaunchTN’s SBIR/STTR Matching Fund. This Fund, administered by LaunchTN (via the State of Tennessee), aims to advance commercialization efforts by matching the successful Phase I and Phase II SBIR/STTR awards of Tennessee-based companies to bolster entrepreneurship in the state by matching federal dollars allotted to exciting, job-creating new Tennessee companies.
Enexor will utilize the funding to install its Bio-CHP renewable energy and carbon conversion systems at a U.S. Army installation in the USA with the primary goal and application of providing landfill diversion of organics and plastic waste streams and onsite renewable energy. Enexor subsequently enables improved sustainability and energy resiliency while assisting in the achievement of greenhouse gas emissions goals while improving base energy resiliency needed to support the warfighter. The funding will go towards the pilot design and implementation, including site assessments, permitting, carbon credit validation and verification efforts, and feedstock testing and feasibility studies.
Enexor’s patented Bio-CHP system converts almost any organic, plastic or biomass waste into reliable, renewable power and thermal energy while concurrently reducing carbon emissions, creating carbon and plastic credits, and ultimately mitigating climate change. Modular and easily transportable, the plug-and-play design of this powerful system allows for quick deployment and on-site mobilization in most places around the world. Enexor’s unique business model also enables immediate cost savings and environmental sustainability for its customers.
This selection builds on Enexor’s tremendous growth, which has seen it quickly being recognized across the world as a leading renewable energy solution to combat Climate Change. Notably honors have included securing a Series A investment from BorgWarner Inc. (NYSE: BWA), being selected into the 100+ Accelerator sponsored by AB InBev (NYSE: BUD), Unilever (NYSE: UL), Coca-Cola (NYSE: KO), and Colgate-Palmolive (NYSE: CL), Google’s (NASDAQ: GOOGL) Climate Change Accelerator, Halliburton Company’s (NYSE: HAL) Clean-Tech Labs Accelerator, winning the United Nations World Tourism Sustainable Development Goals Startup Competition, and winning the OCBC Banks and SATS Ltd. Sustainability Innovation Challenge and being recognized as the “Most Innovative” startup at CapitaLand Sustainability Challenge 2022.
About Enexor BioEnergy
Enexor BioEnergy provides on-site, renewable energy and carbon conversion solutions to help solve the world’s organic waste and plastic waste problems. Enexor’s patented bioenergy system derives value from organic and plastic waste by producing 24/7 continuous power and thermal energy for facilities and microgrids worldwide. Enclosed within a 20-foot custom shipping container, the Bio-CHP systems are designed to be deployable next to a retail store in the United States, hurricane-exposed areas in the Caribbean or a village in Africa. Enexor manufactures its systems at its headquarters in Franklin, Tenn., a Nashville suburb. More at www.enexor.com.
About xTechSBIR Program
xTech connects the Army with businesses through prize competitions, breaking down traditional barriers to working with the Army. Bringing these groups together not only spurs innovation and accelerates technology development for the Army, but provides businesses a unique collaboration opportunity. In addition to cash prizes, businesses are given opportunities to receive follow-on contracts and direct exposure to Army experts and commercial stakeholders – supplying businesses with key networking, education, and mentorship opportunities. More at www.xtech.army.mil.
Marketing & Communications
SVP, Enexor BioEnergy