Cowboy Clean Fuels Closes $7.5M Series A Round

Cowboy Clean Fuels Closes $7.5M Series A Round - Carbon Herald
Credit: Nordroden | Shutterstock

An energy company based in Denver – Cowboy Clean Fuels, LLC is presenting a novel technology that reduces emissions of natural gas. The company, founded in 2020, announced on March 28th the closing of a $7.5 million Series A financing led by Machan Investments, LLC and advised by Syren Capital, LLC. 

The capital raised will be allocated to clear regulatory pathway objectives, provide initial engineering design and prepare for the company’s initial commercial-scale project launch in the Powder River Basin of Wyoming.

Relevant: New Report Questions Electrofuels’ Efficiency In Decarbonizing Aviation

According to Cowboy Clean Fuels, its technology produces carbon-negative natural gas that is delivered to the market via existing infrastructure. 

The process involves the injection of agricultural byproducts into unused coal seams over 1000 feet below the ground. Coal seams usually operate as natural geo-bioreactors where native methanogenic microorganisms convert sugars derived from the renewable biomass into methane and carbon dioxide. 

The company utilizes this natural ability of microorganisms native to coal seams to consume the biomass and then produce equal amounts of CO2 and methane. After that, Cowboy Clean Fuels leaves the CO2 trapped under the ground while it extracts the produced natural gas.

The renewable natural gas is then used as a fuel which releases CO2 into the atmosphere. The company calls the process carbon negative as the agricultural byproducts are assumed to take that CO2 back when they grow and store it naturally. 

The process, however, results in added CO2 emissions into the atmosphere for the short term as it takes a while for the biomass to grow and store that carbon dioxide. 

The Company’s technology was developed by Cowboy Clean Fuels co-founder and chief technology officer, Dr. Michael Urynowicz, Ph.D and is exclusively licensed from the University of Wyoming’s Center for Biogenic Natural Gas Research. 

Relevant: EU Reaches Agreement On The Alternative Fuels Infrastructure Regulation

“I am thrilled that we are on the cusp of advancing our first commercial project in the Powder River Basin… This is the culmination of over a decade of research and development and could not have been accomplished without the unwavering support received from the University of Wyoming and the State of Wyoming…,” said Dr. Michael Urynowicz. 

“We are excited to partner with the innovative management team of Cowboy Clean Fuels as they are at the forefront of technological advances that will support the next phase of growth in the RNG industry,” also commented Dan Dinges, Partner of Machan Investments and long-time energy industry executive.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts
Translate »
Total
0
Share