Berlin-based cleantech startup C1 Inexperienced Chemical substances introduced that it has raised €20 million (USD$21.7 million), with proceeds from the financing geared toward commercializing its inexperienced methanol expertise and assist transfer emissions-intensive sectors away from fossil feedstocks.
Based in 2022, C1 develops new, climate-friendly chemical processes, completely on the idea of renewable uncooked supplies and power, designed with the assistance of quantum chemical simulations, and carried out in proprietary manufacturing applied sciences. The corporate has developed a brand new proprietary course of for the manufacturing of high-purity inexperienced methanol, utilizing decentralized, non-fossil feedstock, low pressures, and low temperatures, enabling mass manufacturing at a aggressive value, and offering an answer to switch fossil assets within the transport, aviation and chemical industries.
The corporate mentioned that it’ll use the brand new capital to construct an indication plant for its methanol manufacturing resolution, with development scheduled to start this yr.
Christian Vollmann, CEO of C1 Inexperienced Chemical substances AG, mentioned:
“Two elements are essential for the profitable commercialization of scientific innovation: expertise and capital. We’re delighted that we at C1 have wonderful entry to each elements.”
Of the full capital raised, €15 million got here from buyers led by denkapparat, the household workplace of the founders of German software program agency Assume-Cell, Markus Hannebauer and Arno Schödl. Planet A Ventures, Maersk Progress, SquareOne, former Linde CEO Wolfgang Reitzle and Siemens Chairman Jim Hagemann Snabe additionally took half within the funding spherical, and one other €5 million got here from accepted analysis grants.
Hannebauer mentioned:
“At C1, the whole lot comes collectively completely: Reducing-edge analysis focusing on an ecologically and commercially vital drawback, pragmatic founders with a transparent imaginative and prescient, and a group boasting spectacular technological and business experience. That is precisely the profile we’re in search of as entrepreneurial buyers. It was instantly clear that we might take the lead on this spherical.”
