Estonian cleantech startup Bioreactor closes a pre-seed round
The Tallinn-based startup Bioreactor which develops technology to turn biomass and waste into heat and electricity announced the closing of its pre-seed funding round from Hiidenkivi Investment Oy and Grid.vc. The amount of investment is not disclosed.
- Founded in 2022, Bioreactor builds a solution that converts bio waste into clean energy through biomass gasification. It can optimize the performance in real-time over a wide range of fuels and operating conditions. Bioreactor claims that it can change the energy industry, reduce greenhouse gas emissions, drastically lower energy costs, and help to alleviate energy poverty on a national scale.
“The 45 kW Bioreactor is a new technology that uses intelligent biomass gasification to convert carbonaceous feedstock into on-site heat and electricity. It utilizes advanced computational fluid dynamics, deep learning and digital twin technologies to drive and optimize the complex thermochemical reaction processes.
The Bioreactor is a cost-effective and sustainable embedded energy solution for households and communities to reach energy self-sufficiency. The technology can also be easily scaled up for larger energy production needs, such as powering microgrids,”says Kim Forsman, co-founder and Managing Director of Bioreactor
- The fresh round was co-led by Finnish Hiidenkivi Investment VC fund which focuses on investing in financial services and manufacturing and Espoo-based investor of the energy sector Grid.vc with its last participation in €5.7 million round for Finnish startup Safegrid.
- Bioreactor plans to spend the funding to produce and deliver its first 25 pilot installations, which will be capable of delivering 10 GWh of annual energy generation.