Leaf Clean Energy Company (LSE: LEAF), which was created to invest in clean energy companies and projects in North America, announced the completion of a $10 million Series A preferred stock financing in MaxWest Environmental Systems, Inc.
MaxWest seeks to deploy proprietary waste-to-energy gasification technology using a variety of waste streams including municipal solid sludge, agricultural waste and other biomass-based material. The MaxWest gasification system represents a low cost, environmentally friendly solution that is an alternative to traditional waste disposal and provides a source of clean renewable energy.
Within the wastewater treatment market, MaxWest believes it is first to market with a comprehensive, onsite, commercial-grade waste disposal system utilizing biosolids streams to produce renewable energy.
The MaxWest system is modular and scalable and has been proven commercially at five different sites throughout North America. The Company will enter into long term contracts to build, own and operate these facilities under waste disposal and/or energy supply contracts with its customers.
Peter Tom, Chairman of Leaf, said, "This investment in MaxWest further balances Leaf’s portfolio with unique waste-to-energy technologies and capital project opportunities. Now, with Leaf’s other investments, the Leaf portfolio includes investments across a spectrum of clean energy, including waste-to-energy, biomass energy, alternative fuels, solar energy and hydroelectric."
Richard Heien, President of MaxWest Environmental Systems, Inc., said, "This investment will allow the Company to accelerate the integration of its technology into these markets and advance the Company’s mission of turning today’s waste problems into tomorrow’s green, renewable energy."
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