In July 2023, SPX Capital and Lightrock invested in ComBio Energia, a Brazil-based developer and operator of biomass-fired boilers that convert organic materials into thermal energy for industrial clients.

With SPX Capital and Lightrock’s support, ComBio launched two new facilities in partnership with Ingredion and expanded its steam generation capacity, operating 13 boilers nationwide with a combined capacity of over 750 tons per hour. The company also strengthened its management team and secured additional debt financing from IFC and BNDES. Since 2012, ComBio’s steam generation projects have prevented an estimated 3.5 million tons of greenhouse gas emissions. The company estimates that its clients have slashed carbon dioxide emissions by an average of 90%, while reducing energy costs by 30-50%.

Download