TLDR:
- Greenlyte Carbon Technologies, a DAC startup, raised €10.5 million in pre-series A funding.
- Founded in 2022, Greenlyte specializes in removing CO2 from the atmosphere efficiently.
Essen-based Greenlyte Carbon Technologies, a leading European Direct Air Capture startup, has closed a €10.5 million pre-series A round. The funding round included participation from Earlybird Venture Capital, Green Generation Fund, Carbon Removal Partners, and Board member Dr. Udo Jung, with Partech joining as well. The startup has now raised over €20 million since its inception just 18 months ago.
Founded at the end of 2022, Greenlyte specializes in a direct air capturing (DAC) system to remove CO2 from the atmosphere using a liquid-sorbent solution and producing hydrogen as a byproduct. This innovative process can be integrated with renewable energies and doesn’t rely on high heat or pressure. The captured CO2 and hydrogen can be used for various purposes like chemicals, construction materials, alternative fuels, or creating negative emissions.
Florian Hildebrand, CEO and co-founder of Greenlyte, mentioned that the demand for DAC was significant in 2023 due to global warming issues. With the new funds, they plan to expand their team, accelerate their scaling, and drive down costs more rapidly. The investors, including Earlybird Venture Capital, Green Generation Fund, Carbon Removal Partners, and Partech, expressed their confidence in Greenlyte’s DAC technology and its potential to make a real difference in the world.
The funding will allow Greenlyte to continue developing and deploying their DAC technology, ultimately aiming to become a global leader in carbon capture.
