BorgWarner Inc., an automotive supplier headquartered in Auburn Hills, announced a $10 million investment in Enexor Bioenenergy, a company in Franklin, Tenn. that provides on-site renewable energy and carbon conversion solutions to help solve the organic and plastic waste problems.
Enexor’s patented and modular Bio-CHP system uses locally sources organic or plastic waste to generate clean onsite energy and can be rapidly deployed in any setting. Enexor claims each system can reduce up to 1,000 metric tons of carbon dioxide equivalent emissions annually by reducing methane emissions released from landfills, offsetting fossil fuel-based power generation, and reducing waste disposal transportation emissions.
“We have been impressed with the dedication and eco-friendly vision of the Enexor team and believe this investment is a natural extension of our comprehensive technology portfolio and actions we have already taken as part of our commitment to achieving carbon neutrality by 2035,” says Joseph Fadool, vice president of BorgWarner and president and general manager, emissions, thermal and turbo systems.
The Bio-CHP system is fueled by a proprietary mix called Enex-Fuel, which typically includes but is not limited to a combination of agro-waste, food waste, wood waste, biosolids, paper, and cardboard. Most plastics can be used as a fuel source as well and do not need to be separated by color or classification.
Enexor claims that besides the environmental benefits, the system provides several economic benefits, including reducing organic waste disposal expenses, landfill tipping fees, and reducing expensive fossil fuel produced power and thermal energy costs.
The thermal energy released from the system is fed through a high-temperature heat exchanger to produce hot water or steam, eliminating the need for an onsite boiler. This energy can also be fed into an absorption chiller to generate chilled water.
“We see immense opportunity for our collaboration with Enexor and are excited to see the impact its solutions, and our investment, will have on the future of renewable power generation and the Earth’s carbon footprint.”
As a Series A investor, BorgWarner’s investment will help the startup commercialize its renewable energy and carbon conversion solutions. BorgWarner has expanded its technology portfolio as well as its business ventures in recent as part of reaching its climate targets.