Cowboy Clean Fuels raises USD 13 million for its renewable gas

Cowboy Clean Fuels announces the closing of a $13 million Series B financing to commercialize its renewable natural gas production and carbon dioxide sequestration technology.

Share:

Illustration of CO2 sequestration equipment

Cowboy Clean Fuels (CCF) has finalized a $13 million Series B financing round for the commercialization of its technology enabling the simultaneous production of renewable natural gas (RNG) and the permanent sequestration of carbon dioxide.
This financing will accelerate the development of this innovative solution in the renewable energy and carbon markets.

Technology for Energy Transition

CCF uses depleted coalbed methane wells in Wyoming’s Powder River Basin to produce RNG from agricultural by-products.
These by-products are converted into CO2 and renewable methane by a biogenic process.
The technology, named “Biomass with Carbon Removal and Storage, plus Renewable Natural Gas (BiCRS+RNG)”, represents a scalable and cost-effective solution for the renewable energy sector.
The Series B financing was led by Machan Investments, with support from Syren Capital.
Combined with $7.8 million in energy matching funds from the Wyoming Energy Authority (WEA), this capital will support Wyoming’s commercial CCF project, the Triangle Unit Renewable Energy and Carbon Capture and Storage (TRECCS) Project.

A fast-growing market

The RNG market is growing rapidly in the United States, offering a cost-effective method of decarbonization for various industrial processes.
The CCF project is expected to produce around 600 million cubic feet of RNG per year at full scale.
At the same time, the CO2 sequestration market is gaining momentum, recognized as crucial to achieving Net Zero goals.
The technology developed by Dr. Michael Urynowicz and licensed by the University of Wyoming, can sequester around 180,000 metric tons of CO2e per year.

Strategic advantages

CCF technology offers a faster, less expensive solution than conventional methods.
In addition to producing renewable energy, it enables the permanent sequestration of carbon dioxide through a physical adsorption process, ensuring long-term carbon elimination.
Investment highlights
1. $20 million financing enables CCF to reach full scale by the end of 2025, potentially becoming one of the world’s largest producers of RNG credits and CO2 sequestration.
2. The TRECCS project utilizes existing assets and innovative technologies, positioning Wyoming as a leader in renewable energy and carbon capture and storage.
3. CCF technology in the Powder River Basin could make Wyoming the world’s largest producer of RNG and sequestered CO2.
Ryan Waddington, CEO of CCF, noted that this capital, in combination with matching funds from WEA, will enable the BiCRS+RNG process to be fully commercialized.
Susan Vick Dinges of Syren Capital noted that CCF’s technology comes at a critical time for the RNG and CO2 sequestration markets, with increasing demand for efficient and scalable solutions.
Dan Dinges, President of Machan Investments, expressed his enthusiastic support for the commercialization and scale-up of CCF technology.
David Kailbourne, CEO of REV LNG, LLC, added that he will join Cowboy’s Board of Directors to guide the management team to the next technological and commercial milestones.

Valmet has secured a contract to supply a biomass boiler and flue gas cleaning system to Saica Group for its production site in El Burgo de Ebro, Spain, as part of its decarbonisation plan.
Qarlbo Biodiversity signed a memorandum of understanding with Woodland Biofuels for the delivery of thinned pine wood from managed forests in the United States to supply the Canadian company’s biomass operations.
The Canadian group Thermal Energy International has secured a CAD 1.4 million contract to install a heat recovery unit at a European malted barley producer, aiming to reduce energy costs and polluting emissions.
The asset takeover process of Global Bioenergies, under a pre-pack disposal procedure, has been extended until 18 July at noon, following requests from potential bidders seeking additional time to assess the French company's financial situation.
SIAAP and SUEZ have inaugurated a new biogas production unit at the Seine Aval wastewater treatment plant, the largest in Europe, as part of a modernization project to strengthen the energy sovereignty of the Paris region.
Canadian company Hydron Energy will supply its innovative INTRUPTor-Mid technology to produce renewable natural gas in Ontario, marking its first commercial order in the biomethane sector with a promise of significant cost reductions.
US President Donald Trump has ratified a law extending until the end of 2029 the tax credit on renewable natural gas production from biomass and animal manure, aiming to boost the rural economy.
Valmet secures a contract to deliver a bubbling fluidized bed biomass boiler and flue gas handling equipment to Kraftringen Energi's upcoming combined heat and power plant, aimed at strengthening energy supply in Sweden.
Elcimaï Environnement has completed a methanisation unit integrated into Laon's wastewater treatment plant, now enabling the conversion of sludge and bio-waste into biomethane injected into the local grid, meeting the annual energy needs of 1,150 households.
Infrastructure manager Teréga and GRDF inaugurated in Auch, Occitanie, the region’s first biomethane reverse-flow station, designed to facilitate biomethane transfer from the distribution to the transport network, representing an investment of €3mn ($3.27mn).
Eni has inaugurated its first vegetable oil extraction plant in Loudima, Republic of the Congo, marking the country's entry into the global biofuel supply chain for the transport industry.
The city of Toul has officially inaugurated a biomass heating plant operated by ENGIE Solutions, intended to supply heating from wood-energy to over 2,400 local homes starting from the next winter season.
North American biomethane capacity will increase by 70 million cubic feet per day in 2025 following a record growth of 139 mmcfd in 2024, driven notably by transportation sector demand, according to Wood Mackenzie.
The voluntary carbon market intensifies industrial interest in carbon capture within the pulp and paper and bioenergy sectors, creating an estimated $3 billion opportunity through carbon credit trading.
Germany’s announcement to eliminate double counting is shaking up manure-based biomethane and GHG certificate markets, prompting buyers to anticipate significant price hikes.
Enilive has started producing sustainable aviation fuel (SAF) at its biorefinery in Gela, Sicily, with an annual capacity of 400,000 tons, meeting nearly a third of Europe's projected demand for 2025.
Under growing pressure to decarbonize, the world’s leading oil companies are heavily investing in biofuels, with 43 projects aiming to boost sustainable fuel production by the end of the decade.
Skyven Technologies introduces an industrial heat pump capable of generating steam, reducing Western New York Energy's CO2 emissions by 20,000 tons a year.
Unions at the Cordemais coal-fired power station have called a strike and are demanding that EDF CEO Luc Rémont come to the plant to explain the abandonment of the biomass conversion project.
Haffner Energy and Bambbco collaborate to integrate bamboo as a new sustainable biomass source. The partnership aims to strengthen the supply of biomass for clean energy production, by exploiting marginal lands.