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Methane gas emissions are a massive problem for the environment. However, there has yet to be a breakthrough technology for solving the problem.
But there is a growing number of startups and ventures funds working on an innovative, sustainable solution: turning methane gas into Bitcoin.
Why it matters:
- Methane gas is one of the largest contributors to climate change globally
- However, only 2% of capital in climate tech actually goes towards projects and startups working on methane mitigation
- Of the venture funding that does go into methane mitigation, most of those startups are working on advanced technology that likely won’t be ready for a decade
- There are very few technologies that mitigate methane emissions today and are scaleable
The big idea:
- A concept that has caught significant traction is converting landfill methane emissions into renewable energy
- By building self contained technology on site at landfills such as micro turbines or gas filtration systems you can reduce methane emissions and create renewable electricity
- Typically, this would be unviable as for a startup to profit they would need to sell the renewable power back to the grid, which requires substantial capital or massive infrastructure upgrades to the local grid
- However, by putting data centres such as Bitcoin mining actually on site, that renewable power generated from methane mitigation can go directly into the data centres and create profitability
Who is making moves:
- CH4 Capital, led by Daniel Batten, is one of the only purpose built venture funds focused on solving this exact problem by funding companies building these technologies
- Nodal Power, a Utah based startup, recently raised $13M to build out its technology onto more landfills
- California based Vespene Energy recently launched a pilot project with Virdi Energy for methane reduction to power on site data centres
- DC Two, an Australian based company, launched a renewable, modular data centre at biogas company LMG Energy and is aiming to attract a Bitcoin mining partner to use the renewable energy
