MAASSLUIS, The Netherlands--(BUSINESS WIRE)--
Agreement provides Synova with a committed financing partner to scale projects; FullCycle receives pipeline of high-impact opportunities
Synova Power, a developer and supplier of waste gasification technology and projects, and FullCycle, an investment firm that backs companies – and their projects – to accelerate the deployment of proven, climate-restoring technologies, announced today an Investment Master Agreement (IMA) to scale Synova’s cutting-edge technology through new and expanded projects across the globe. The IMA provides FullCycle with a right of first refusal to invest in Synova’s transformative projects totaling $1 billion in equity, and it ensures Synova will have a committed financing partner as it enters the next stage of the company’s growth.
Synova, which launched in 2012, utilizes its proprietary MILENA and OLGA technologies to offer communities around the world a clean and responsible way to dispose of waste. This highly sustainable waste-to-energy engagement brings enduring benefits that limit waste disposal, reduce greenhouse gas emissions, and improve people’s lifestyles. FullCycle, led by Ibrahim AlHusseini, first invested in Synova in 2013.
“Our continued partnership with FullCycle positions us to double-down on our current projects in the United States, Thailand and the Netherlands, and source new opportunities across the globe,” said Christian Jacqui, Chief Executive Officer of Synova. “The agreement signed today validates our model, our technology, and our vision to build a healthier, more sustainable planet.”
“Solving the climate crisis is the most urgent challenge facing the world, which is why we are so proud to build on our partnership with the talented team at Synova,” said Ibrahim AlHusseini, founder and CEO of FullCycle. “This new agreement will make it possible to accelerate the deployment of Synova’s leading technology to reduce waste, limit greenhouse gas emissions, and make the world a more habitable place.”
This IMA between Synova and FullCycle also secures the development and production of Synova’s modular, pre-fabricated flagship technology which can be integrated into existing plants or installed into new locations around the world. More information about Synova investment opportunities and biomass gasification and energy production technology can be found at Synovapower.com.
About Synova Power
Synova Power is both a technology supplier and developer of next-generation waste-to-energy projects, with a special focus on integrated gasification combined cycle (“IGCC”) plants for power and clean renewable feedstocks for liquid fuels or specialty chemicals. Synova is developing a pipeline of waste-to-energy and biomass plants from its two primary offices, based in the Netherlands and Thailand. Through its wholly owned subsidiary, Synova Renewable Technology (SRT) - formerly known as Dahlman Renewable Technology (DRT), which developed and operates MILENA® gasification and OLGA® syngas cleaning proprietary technologies, Synova both sells equipment and develops projects across the globe.
FullCycle is an investment firm creating the world’s most efficient platform to solve the climate crisis. By backing companies, and their projects, to accelerate the deployment of proven, climate-restoring technologies, FullCycle is taking immediate action to reverse the effects of climate change – with compelling financial returns for investors. The strategy of working with companies leveraging commercially-viable technologies across multiple infrastructure projects results in stable cash flow from projects as well as the appreciation in the value of the portfolio companies themselves.