Greenlyte Carbon Technologies, an Essen, Germany-based direct air capture startup, raised €10.5M in Pre-Series A funding.
The round saw participation from Earlybird Venture Capital, Green Generation Fund, and Carbon Removal Partners, Board member Dr. Udo Jung, as well as Partech.
The company intends to use the funds to expand operations and development efforts.
Founded at the end of 2022 by Florian Hildebrand, Dr. Niklas Friederichsen, and Dr. Peter Behr, Greenlyte specializes in a direct air capturing (DAC) system that efficiently removes CO2 from the atmosphere using a liquid-sorbent solution with minimal energy and producing hydrogen as a byproduct. This innovative process can be fully integrated with renewable energies and doesn’t rely on high heat or pressure. The generated CO2 and hydrogen can then be used as feedstock for chemicals, construction materials, and alternative fuels, or to create negative emissions.
FinSMEs
08/03/2024