Nodal Power Raises $13 Million in Seed Funding for Methane Emission Mitigation
Nodal Power, a company dedicated to curbing methane emissions from landfills while harnessing their latent energy potential, has announced the successful completion of a $13 million seed funding round. The funding will be used to aggressively tackle methane emissions while powering bitcoin mining data centers. The press release was sent to bitcoin Magazine.
Power Plants and Data Centers
A significant portion of the raised funds has already been allocated for the construction and operation of two power plants in the United States. The first power plant, located in the southeast region, utilizes landfill gas to generate electricity that is then channeled into the local utility grid. This site also features a data center, enabling efficient energy distribution.
The second power plant, situated in the mountain west region, hosts a groundbreaking off-grid bitcoin mining data center. It is entirely powered by landfill gas. The company plans to allocate further funding for the development of a third power plant, slated for early 2024. These three sites share a common goal: to harness renewable electricity from the methane gas produced during the decomposition of organic waste in landfills.
Transforming Wasted Resources into Renewable Energy
Nodal Power CEO Bryan Black stated, “We’ve developed solutions, specifically for smaller landfills, that allow us to bring these overlooked resources to market. Our technology and energy-first approach have the potential to make a significant impact on local energy markets.”
The company’s initiative has the potential to substantially reduce methane emissions originating from landfills. Methane, a potent greenhouse gas, is known to be 25 times more effective at trapping heat than carbon dioxide. Nodal Power’s approach involves combusting methane gas within generators, mitigating methane emissions and reducing carbon emissions when compared to traditional flaring or venting practices. This innovative process transforms a previously wasted resource into a beneficial source of energy.
For more information about Nodal Power and their initiatives, visit their website here.
### News source: bitcoinmagazine.com