An Ottawa cleantech company that’s risen from the ashes six years after filing for creditor protection has signed the first customer for its technology that converts trash into energy.
Omni Conversion Technologies – formerly known as Plasco Conversion Technologies – said this week it closed a US$35-million deal to sell one of its waste-conversion units to the Larsen and Lam Climate Initiative, a non-profit foundation led by California philanthropists Chris Larsen and Lyna Lam.
Larsen, a billionaire tech entrepreneur and executive chairman of money-transfer software firm Ripple Labs, is working with a California developer who plans to install Omni’s system at an undisclosed location in the state.
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An Ottawa company that was once hailed as a green energy trailblazer says it’s ready to bring its trash-to-energy technology to market five years after filing for creditor protection.
Formerly known as Plasco Conversion Technologies, serial entrepreneur Rod Bryden’s firm has rebranded itself in preparation for what it hopes will be a breakthrough 2021.
Bryden says the company, now called Omni Conversion Technologies, has spent the past several years refining its system that is supposed to burn garbage and convert it into electricity and another gas that can be used as an energy-efficient fuel.
“We’ve kept quiet and focused entirely on putting this product into what we hope and believe is perfect shape,” Bryden, who launched the company 15 years ago, told OBJ this week.
An Ottawa company that was once hailed as a green energy trailblazer says it’s ready to bring its trash-to-energy technology to market five years after filing for creditor protection.
Formerly known as Plasco Conversion Technologies, serial entrepreneur Rod Bryden’s firm has rebranded itself in preparation for what it hopes will be a breakthrough 2021.
Bryden says the company, now called Omni Conversion Technologies, has spent the past several years refining its system that is supposed to burn garbage and convert it into electricity and another gas that can be used as an energy-efficient fuel.
“We’ve kept quiet and focused entirely on putting this product into what we hope and believe is perfect shape,” Bryden, who launched the company 15 years ago, told OBJ this week.