Berlin-based cleantech startup NeoCarbon has announced a €3.2M seed funding round. Specialising in retrofitting industrial sites for CO2 removal, the funding marks a significant step. RAISE Seed For Good led the round, with Proptech1 Ventures, Speedinvest, and Antler also investing.
The mission & technology
Founded in 2022, NeoCarbon aims to tackle climate change innovatively. It focuses on removing CO2 cost-efficiently from ambient air, using waste heat from industrial sites. Its novel reactor technology underpins its Direct Air Capture (DAC) approach. This reduces both cost and time, encouraging widespread adoption.
The startup’s first paid customer pilot with a major industrial entity is set for Q1 2024. NeoCarbon’s method leverages excess heat from hundreds of thousands of European industrial sites, previously unutilised. This approach significantly lowers capital and operational costs for CO2 removal.
Expansion & impact
CEO René Haas emphasised the urgency of their mission. “Every year, the climate crisis is causing more tangible and costly damages,” he said. The seed funding will speed up their rollout, fulfilling the demand for their climate-positive technology. Their focus now is on scaling carbon removal credit pre-procurements and accelerating deployments to industrial sites.
Investor perspective
Sophia Martin, Co-head at RAISE Ventures, highlighted the critical role of DAC. “It is the only way to achieve carbon neutrality,” she noted. Martin stressed NeoCarbon’s unique, decentralised approach as a scalable solution for CO2 capture. This investment round aims to hasten product deployment with both existing and new clients committed to net-zero goals.
NeoCarbon’s innovative approach and recent funding injection position it as a key player in the fight against climate change. With its autonomous system that leverages existing infrastructures, the company stands at the forefront of a scalable and impactful climate solution.
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