Phoenix BioPower assets for sale
Post-bankruptcy, the company sells its biomass gasification and combustion IP. Interested parties may contact trustee Erik Osvald for bidding details.
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Biomass-to-energy technology developer in bankruptcy
phoenixbiopower.comLast updated
In short: Phoenix BioPower filed for bankruptcy and put its biomass gasification assets up for sale after failing to meet funding targets.
Post-bankruptcy, the company sells its biomass gasification and combustion IP. Interested parties may contact trustee Erik Osvald for bidding details.
The board made the decision at today's meeting due to the interrupted emission. The company cannot pay its debts. The application was submitted to the district court.
The issue did not reach the minimum target of 3.5 MSEK but stopped at under 2.4 MSEK. Deposited funds will be refunded. The company's survival is threatened; the board is investigating alternatives.
The Bio-HydroFuel project is led by KTH with Phoenix and partners. It develops process for aviation fuel from sediment and remediates environments. Phoenix validates gasification technology. Budget 3.7 M€, start September 2025.
To reach the highly ambitious goals of being net zero, investments in all fossil-free alternatives will be critical. The Swedish bioenergy company Phoenix BioPower...
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