In the race against climate change, every innovative stride toward reducing emissions counts. The urgency is palpable as the world aims to cut emissions by nearly half by 2030 and achieve net-zero by 2050. Among the notable players championing this cause is NeoCarbon, a Berlin-based startup pioneering Direct Air Capture (DAC) technology. Today, we unveil their latest triumph—a significant €3.2 million seed funding round that is set to catapult them to the forefront of the carbon capture revolution.
NeoCarbon's latest funding coup was led by RAISE Seed For Good, the Seed and Pre-Seed fund under RAISE Ventures. Joining forces with existing investors PT1 – Proptech1 Ventures, Speedinvest, and Antler, the seed round also welcomed notable angel investors Christian Vollmann and Matthias Gotta. This financial boost is a testament to the industry's confidence in NeoCarbon's mission.
The influx of fresh funds is earmarked to propel NeoCarbon's units to customer sites through the establishment of a dedicated operations team. Crucially, it will expedite the development of NeoCarbon's first full-scale capture unit, employing their proprietary reactor technology. This technological leap promises a substantial reduction in capture costs, marking a pivotal step toward making carbon capture economically viable.
Founded in 2021 by climate tech enthusiasts René Haas and Silvain Toromanoff, NeoCarbon is rewriting the narrative on carbon capture. Leveraging underutilized waste streams from existing industrial infrastructure, such as waste heat from cooling towers, the startup is on a mission to remove carbon dioxide directly from ambient air. This visionary approach not only accelerates the adoption of carbon capture but also has the potential to capture several gigatons of CO2 annually. NeoCarbon achieves this feat by retrofitting existing infrastructure, cutting costs and time by up to 10 times compared to traditional methods.
As we navigate the escalating climate crisis, NeoCarbon stands as a beacon of hope, addressing the urgency outlined by climate research experts. With their first unit poised to roll out in the coming months, NeoCarbon is on the precipice of tangible impact. The €3.2 million seed round is not just a financial infusion but a catalyst for NeoCarbon to respond to demand swiftly, realizing its potential to contribute to a multi-gigatons per year climate impact opportunity. The climate clock is ticking, and NeoCarbon is answering the call to action with an entrepreneurial spirit and a vision to reshape the carbon capture landscape.
