Waste to Energy Advanced Solutions (WtEnergy) is ready to “take the next leap.” To do so, the Barcelona-based company has once again turned to venture capital, closing a €10 million funding round that will allow it to move forward with already signed projects without decapitalising, expand its workforce, grow across Europe and develop new applications for Syngas, the core element of its technology.
WtEnergy was founded in 2017 by Andrés Ponce, a world-renowned expert — as highlighted by Cemex Ventures, one of its first venture capital partners — in Advanced Thermochemical Conversion Processes (ATCP). His vision was to develop a system that could be easily installed in industrial facilities and convert their waste into renewable gas. In short, that is WtEnergy: modular plants ranging from 5 to 50 megawatts that integrate directly into industrial sites and transform organic waste, non-recyclable materials or biomass into Syngas.
This “renewable gas can replace fossil fuels in energy-intensive industrial processes” and “can also be further processed to produce hydrogen, methanol and sustainable aviation fuel (SAF),” the company explains. To achieve this, the startup has developed its own gasification technology, specifically designed for cement plants, paper mills and companies in the chemical sector, among other industries considered “key to industrial decarbonisation.”
Thanks to this approach, WtEnergy has secured — or is close to securing — projects with major companies in Switzerland, France and Spain. In 2024, the company generated €7 million in revenue, a figure that has grown in 2025, although the company has not yet disclosed exact numbers. Ponce only hints that “2026 looks very promising.”
Among its plans, WtEnergy aims to develop R&D projects to convert Syngas into hydrogen, methanol and other products. It is also exploring the possibility of expanding its core business lines by acting as a supplier of heat or Syngas to third parties through plants it owns and operates
New Partners
The €10 million funding round announced this Monday will be key — not only because of the capital itself (although Ponce notes that the company is already profitable and that the round is intended to accelerate growth), but also because of the new partners joining the company. The round is led by SC Net Zero Tech Ventures, a fund managed by Suma Capital with Repsol among its main investors, and includes participation from Shell Ventures, Shell’s venture capital arm. Both join existing shareholders such as cement producer Cemex and construction company Copisa, which have been partners of WtEnergy since 2022.
“This round marks the transition from a startup to a scale-up, and we want to consolidate an organisational structure that is more aligned with this new stage,” reflects Ponce, CEO of the company, in reference to the hiring plans enabled by this capital injection. WtEnergy currently employs around 23 people, the vast majority of them engineers.
