New technology that eliminates 30% of carbon emissions

In 2004, Casseris first came to MIT to pursue a graduate degree in mechanical engineering, working at the Sloan Automotive Laboratory, where he authored a report on the future of transportation. During his doctoral studies, he developed a new technology to improve the fuel efficiency of internal combustion engines for an alliance of automotive and energy companies—and after graduation, he joined that same alliance. Around 2014, Leslie Bromberg approached him. Bromberg, a prolific inventor holding over 100 patents, had served for nearly 50 years as Chief Research Engineer at MIT’s Plasma Science and Fusion Center. “Bromberg had a crazy idea—to convert internal combustion engines into reactors,” Casseris recalled. “I’d studied this while working in industry, and I loved it—but my company at the time felt the concept needed more validation.” Bromberg validated the idea through a U.S. Department of Energy–funded project, using a diesel engine to ‘reform’ methane—a high-pressure chemical reaction in which methane combines with steam and oxygen to produce hydrogen. This work deeply impressed Casseris, who returned to MIT in 2016 as a research scientist. “Alongside several other research projects, we kept pursuing this idea, and eventually decided to license it from MIT and go all-in,” Casseris recalled. “If you’re an inventor at MIT, collaborating with MIT’s Technology Licensing Office is extremely straightforward. You can obtain low-cost licensing options and conduct extensive R&D under them—something absolutely critical for a startup. Then, once you’re ready, you finalize the license. So MIT played a pivotal role.” At the heart of the Emvolon system is an off-the-shelf automotive engine operating in a ‘fuel-rich’ mode—i.e., with a fuel-to-air ratio higher than required for complete combustion. “It sounds simple, but it requires substantial intellectual property—and that’s precisely what MIT developed,” Casseris said. “Rather than burning methane in the gas completely into carbon dioxide and water, we partially burn or partially oxidize it into carbon monoxide and hydrogen—building blocks for synthesizing various chemicals.” Hydrogen and carbon monoxide serve as intermediates for synthesizing diverse chemical products. These downstream processing steps occur adjacent to the engine and are powered by the engine itself. Each standalone Emvolon system fits inside a 40-foot shipping container and can produce approximately eight tons of methanol per day from 300,000 standard cubic feet of methane gas. The company chose green methanol as its initial product because it serves as an ideal fuel for hard-to-decarbonize sectors such as maritime shipping and heavy-duty transport—and also functions as an excellent feedstock for other high-value chemicals, including sustainable aviation fuel. Many cargo vessels have already transitioned to green methanol to meet decarbonization goals. This summer, the company also received a grant from the Department of Energy to refine its process, incorporating solar and wind power for producing clean liquid fuels. “We aim to expand into other chemical products—such as ammonia—as well as alternative feedstocks—including biomass and hydrogen derived from renewable electricity—where we’ve already achieved encouraging research results,” Casseris said.

BP to acquire U.S. biogas producer Archaea Energy for $4.1 billion

Archaea was founded in 2021 when Rice Acquisition Corp. merged with two other companies to create what is described as a renewable natural gas (RNG) ‘giant.’ The environmental benefit of this fuel stems primarily from preventing the release of methane—a potent greenhouse gas—generated when organic waste decomposes under specific conditions. The company collects biogas from landfills or farms and processes it into pipeline-quality natural gas. Burning the fuel still emits carbon dioxide, but its overall climate impact is significantly lower than if methane were released directly into the atmosphere. Under CEO Bernard Looney, BP has strived to lead among major oil companies in cutting greenhouse gas emissions and transitioning toward clean energy. It was one of the earliest companies to commit to achieving net-zero emissions by 2050 and has made major investments in offshore wind and electric vehicles. Although soaring oil and gas prices following the Russia-Ukraine crisis this year delivered record profits to the sector, BP, TotalEnergies SE, and Shell have stated they will continue allocating an increasing share of their cash flow to low-carbon energy—while no longer relying on fossil fuels as their primary revenue source. Matthew Blair, Head of Chemicals, Refining, and Renewable Fuels Equity Research at Tudor, Pickering, Holt & Co., noted that Archaea holds “a large backlog of sites ripe for RNG development,” and BP’s acquisition “truly signals massive growth potential.” The target company is valued at roughly four times Archaea’s projected 2027 EBITDA of $1 billion, compared to its current valuation of approximately $140 million. Blair added, however, that even at this price, the deal values Archaea below peers such as Montauk Renewables Inc. on a per-unit-of-gas-volume basis, based on projected 2025 natural gas production.

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Montauk Renewables increased Q1 2026 revenue by 9% to $46.4 million and secured a $200 million credit line. Its new North Carolina Ag Renewables project will commence production in May 2026.

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