Cowboy Clean Fuels (CCF), an advanced climate tech and energy transition company, has raised approximately $13 million Series B equity financing. This funding will be pivotal in commercializing its groundbreaking technology for the simultaneous production of renewable natural gas (RNG) and permanent sequestration of carbon dioxide, presenting a significant opportunity for investors in the growing renewable energy and carbon markets.
Read also – [Funding News] Linx Security Raises $33 Million in Funding
The Series B financing round was led by Houston-based Machan Investments, the family office of former energy executive Dan Dinges. Cowboy Clean Fuels was advised in the transaction by Syren Capital. Combined with $7.8 million in Energy Matching Funds (EMF) from the Wyoming Energy Authority (WEA), this capital will support the development of Cowboy Clean Fuels’s first commercial project in Wyoming, the Triangle Unit Renewable Energy and Carbon Capture and Storage (TRECCS) Project.
Read also – Catalyze Partners Acquires Axcend, LLC, Early-Stage Company Behind Compact and Portable HPLC Systems
Ryan Waddington, CEO of CCF, stated, “We are incredibly pleased to have secured investment from some of the smartest and most experienced energy entrepreneurs, operators, and investors in the country. This capital, along with the WEA matching funds, will enable us to fully commercialize the BiCRS+RNG process and realize the technology vision behind it, which is nearly twenty years in the making.”
Susan Vick Dinges, Syren Capital, commented, “Cowboy’s technology is coming to market at a critical juncture in both RNG and CDR markets. Demand for RNG is growing beyond the traditional transportation fuel markets, however traditional RNG supply volumes are constrained and require higher end buyer prices to Cowboy. Similarly, demand for high quality, long duration carbon removal is exploding, but at high costs – emerging solutions like DAC are not yet ready to deliver. The investor community recognized that Cowboy is ready to carve out a leadership position in both sectors by delivering both RNG and CDR attributes and credits to market in the near term – and with greater scale than the competitive landscape.”
Dan Dinges, Chairman of Machan Investments, added, “We have been impressed with the company’s continued progress since our initial investment in 2022 in all areas of regulatory, compliance, operations, commercial and refining development costs to add value to offtake buyers. Machan is excited to lead this financing and bullishly support Cowboy’s commercialization and scale up.”
About Cowboy Clean Fuels
Founded in 2020, Cowboy Clean Fuels (CCF) is leveraging natural systems to generate the most durable and high-quality carbon removal credits in the marketplace, while producing significant volumes of Renewable Natural Gas (RNG). CCF is initially deploying its patented technology in Wyoming’s, Powder River Basin.
