Essen-based startup Greenlyte Carbon Technologies, a pioneer in the Direct Air Capture (DAC) sector in Europe, has successfully secured €10.5 million in a pre-series A funding round. The investment round saw contributions from notable firms including Earlybird Venture Capital, Green Generation Fund, Carbon Removal Partners, and new investor Partech, with continued support from board member Dr. Udo Jung.
About greenlyte
Founded by Florian Hildebrand, Dr. Niklas Friederichsen, and Dr. Peter Behr at the close of 2022, Greenlyte has introduced an innovative DAC system. This system, unique in its use of a liquid-sorbent solution, efficiently captures CO2 from the atmosphere while producing hydrogen. Its integration with renewable energy sources and avoidance of high heat or pressure sets it apart. The technology offers versatile applications, including the production of chemicals, construction materials, and alternative fuels, contributing to negative emissions.
Expansion and impact
With over €20 million raised in just 18 months from equity and grants, Greenlyte is poised for rapid expansion. Florian Hildebrand, CEO, shared that 2023 highlighted the critical demand for DAC technology amidst worsening global warming effects. The new funds will facilitate team growth and parallel advancements in technology development and market deployment, speeding up the scaling process and cost reduction.
Investor confidence and global ambition
Investors have expressed strong confidence in Greenlyte’s technology and its potential global impact. Dr. Hendrik Brandis of Earlybird praised the team’s swift progress, while Janna Ensthaler of Green Generation Fund commended the founding team’s blend of scientific expertise and operational excellence. Max Zeller of Carbon Removal Partners highlighted Greenlyte’s position as a leader in DAC technology, underscored by remarkable market traction. Romain Lavault of Partech drew parallels between Greenlyte and early SpaceX, lauding the team’s deep tech expertise and execution speed.
Conclusion
Greenlyte Carbon Technologies stands at the forefront of combating global warming through its DAC technology. The recent funding round not only underscores the market’s trust in Greenlyte’s solution but also sets the stage for the company to become a global leader in carbon capture. With a growing team and accelerated technology deployment, Greenlyte is fast-tracking its mission to deliver impactful environmental solutions.
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