Colipi, a Hamburg, Germany-based company developing an industrial biotechnological process that transforms climate-damaging CO2 and carbon-containing industrial waste into climate oil, raised €1.8M in Seed funding.
The round was led by High-Tech Gründerfonds (HTGF), the Innovationsstarter Fonds Hamburg (IFH), Nidobirds Ventures GmbH, and Stefan De Loecker.
The company intends to use the funds to enter the market with climate oil and scale precision fermentation processes to 10 cubic meters the pilot scale.
Led by CEO Maximilian Webers, Colipi is developing an industrial biotechnological process that transforms climate-damaging CO2 and carbon-containing industrial waste into climate oil. This product serves as a sustainable and climate-neutral alternative to palm oil and crude oil. A patented bioreactor system is the key differentiator. The solution has the potential to become a CO2-transforming bioprocess.
Commenting on the news, Maximilian Webers said: “Laboratory experiments provide compelling evidence that our gas fermentation process represents a breakthrough in bioprocesses, offering significant potential to produce biomaterials, including oils, on a large scale at competitive prices and with minimal environmental impact. Climate Oil aims to emerge as a carbon-neutral alternative to palm and crude oil, facilitating industries in meeting climate goals more effortlessly by reducing GHG Scope 3 emissions and safeguarding the environment. Our ongoing communication with Stefan De Loecker, HTGF, Innovationsstarter Fonds Hamburg, and Nidobirds, partially dating back to 2021, has been instrumental, and we are thrilled to have identified them as the ideal partners for our upcoming endeavors.”
FinSMEs
19/02/2024