Waste Management, NRG and two other companies form renewable energy venture

Mar 24, 2014, 7:59am CDT Updated: Mar 24, 2014, 8:32am CDT

 

Associate editor- Houston Business Journal

 

Houston-based Waste Management Inc. (NYSE: WM) has joined with oil and gas giant NRG Energy Inc. (NYSE: NRG) and two other companies to form a venture dedicated to producing renewable fuels and chemicals, according to a press release.

The four companies, including Pasadena-based Ventech Engineers International LLC and energy technology company Velocys, based in Abingdon, U.K., teamed up to develop smaller-scale, gas-to-liquids technology using the gas created by landfills.

Joe Vaillancourt, Waste Management's vice president of corporate venturing, explained that the venture would take advantage of each of the company's strengths: "Velocys’ leading smaller-scale GTL technology, Ventech’s engineering capabilities and NRG’s clean energy development expertise."

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