Mexico-based waste management system manufacturer Sistema.bio has secured $12m in funding from investors including energy utility Engie’s RDE Fund and oil and gas supplier Shell.
Financial services firm Triodos Bank, the European Union’s ElectriFi scheme and crowdfunding platform Lendahand also took part in the round, as did Dila Capital, EcoEnterprise Fund, CoCapital, Endeavor Catalyst Fund and Alpha Mundi. Shell took part through its social investment initiative, Shell Foundation.
Sistema.bio builds and distributes affordable biodigesters to help smallholder farmers convert animal waste into energy and fertiliser. It was founded in Mexico in 2010 and has since installed more than 5,500 systems across 15 countries that also include India, Colombia and Kenya.
The company had previously received $350,000 in convertible note financing from Kenya Climate Ventures, a subsidiary of investment firm and incubator Kenya Climate Innovation Center, in May 2018 according to CapitalFM.