LoCI Controls, Inc. Completes Series C Funding Round
LoCI will use the latest funding to accelerate product development and increase adoption of its platform
(Wareham, MA) November 18, 2022 – LoCI Controls, Inc., the leader in real-time data and control technology used to increase methane capture and reduce emissions at landfills, announced today the completion of its Series C funding round. LoCI will use the new funding to accelerate product development and increase adoption of the company’s platform. The funding round was led by a strategic investor with participation from existing investors, including Turnbridge Capital Partners.
“LoCI’s investors bring significant experience and reach in the energy and energy transition sectors, as well as a shared goal to reduce methane emissions at a large scale to combat climate change. This financing will support accelerated adoption of LoCI technology by landfills which work with LoCI to create voluntary carbon credits and leverage emerging federal and state public policy to provide new sources of revenue for methane emission reduction efforts at landfills”, said Peter Quigley, Chairman and CEO of LoCI Controls, Inc.
The investment comes as the federal government announced new initiatives at COP27 to strengthen the U.S. leadership in tackling climate change, including expanding the Global Methane Pledge. “Reducing methane emissions is the fastest way to lower global temperatures in the near term, avoid dangerous climate tipping points, and alleviate global adaptation burdens,” according to the most recent brief from the Biden Administration. The Global Methane Pledge has now been endorsed by over 130 countries representing over one-half of global methane emissions.
LoCI has pioneered real-time data and control technology to decrease methane and other landfill gas emissions while increasing gas collection by 10 to 20%. The LoCI system uses a patented cloud-connected data platform to measure and optimize key gas collection system parameters including gas composition, applied and available pressure, flow, atmospheric pressure and temperature, as well as liquid levels inside collection wells.
“Turnbridge has been invested in LoCI since 2017 and is excited to support this talented management team as they apply their proprietary technology to deliver step change improvement in performance, operating costs, safety and methane recovery. Turnbridge is committed to responsible investing, and consistent with our Toward Zero™ energy transition and sustainability framework, investing with purpose into innovative companies like LoCI that are tackling climate change. This funding round is a milestone for LoCI, which will accelerate growth and impact in a market with significant potential and clear need for change,” said Mitch Cox, Turnbridge partner and LoCI director.
Lazard acted as lead financial advisor to LoCI Controls, Inc. in connection with the transaction. WilmerHale served as legal counsel. In addition, GreenFront Energy Partners served as co-advisor.
About LoCI Controls, Inc.
LoCI Controls, Inc. is a real-time data and control platform company that uses a patented technology to increase methane capture and reduce emissions from landfills. Founded in 2013 by MIT graduates, the Company’s patented technology combines on-site measurement system with cloud-based software, data management and automation, and field as well as remote operating support. The result is improved methane capture and emission reduction from landfills for our gas collection system operators who convert methane to Renewable Natural Gas or Renewable Electricity. From LoCI’s first RNG operation in 2017, the Company’s technology has been gaining rapid adoption, now operating in dozens of landfill projects across the United States. LoCI’s products and services are covered by 19 issued US patents, with additional United States and international patents pending. More at locicontrols.com.
About Turnbridge Capital
Turnbridge Capital is a private equity firm targeting investments in service providers and equipment manufacturers that provide value-added solutions to global participants in the energy, infrastructure and industrial end markets. For more information on Turnbridge, please visit www.turnbridgecapital.com.