Nodal Power Secures $13 Million Seed Round To Drive Renewable Energy Transformation At Landfills
Nodal Power, who mitigates methane at landfills by powering Bitcoin mining data centers, announced that the company has successfully raised $13 million in a seed funding round aimed at aggressively curbing methane emissions from landfills while harnessing their latent energy potential, according to a press release sent to Bitcoin Magazine.
A significant portion of the funds has already been deployed for the construction and operation of two power plants within the United States. The first site, located in the southeast US, channels the electricity generated from landfill gas into the local utility grid. This site features data center, enabling the efficient distribution of energy between the utility and the data center.
The second site, located in the mountain west region, boasts a pioneering off-grid Bitcoin mining data center, powered by landfill gas. Plans are in place to allocate additional funding for the development of a third site, slated for early 2024. All three sites share the common goal of harnessing renewable electricity from the methane gas generated during the decomposition of organic waste in landfills.
“We’ve developed solutions, specifically for smaller landfills, that allow us to bring these overlooked resources to market,” said Nodal Power CEO Bryan Black. “Our technology and energy first approach have the potential to make a significant impact on local energy markets.”
Nodal Power’s initiative carries the potential to substantially reduce methane emissions originating from landfills. Methane, a potent greenhouse gas, is known to be 25 times more adept at trapping heat than carbon dioxide. The company’s approach involves combusting methane gas within generators, a strategy that not only mitigates methane but also cuts down on carbon emissions when compared to traditional flaring or venting practices. This process thereby transforms a previously wasted resource into a beneficial energy source.
More details about Nodal Power and their initiatives can be found here.
