Greenlyte Carbon Technologies Raises €10.5M to Advance Direct Air Capture System

The €10.5 million Pre Series A round marks a significant milestone for Greenlyte Carbon Technologies (GCT), showcasing increased confidence and investment in the startup’s Direct Air Capture technology. This funding will likely support GCT’s efforts to further develop and implement solutions for carbon capture, contributing to environmental sustainability initiatives.

Greenlyte Carbon Technologies, founded in late 2022 by Florian Hildebrand, Dr. Niklas Friederichsen, and Dr. Peter Behr, has successfully closed a €10.5 million Pre-Series A funding round. The startup specializes in Direct Air Capture (DAC) technology, offering an innovative solution to efficiently extract CO2 from the atmosphere. Their DAC system employs a liquid-sorbent solution, ensuring minimal energy consumption and producing hydrogen as a valuable byproduct. This funding injection is expected to accelerate the development and deployment of Greenlyte’s sustainable and impactful carbon capture technology.

Greenlyte Carbon Technologies’ Direct Air Capture (DAC) process stands out for its full integration with renewable energies, offering a sustainable solution. Without relying on high heat or pressure, this innovative approach efficiently extracts CO2 from the atmosphere and simultaneously produces hydrogen. The captured CO2 and hydrogen serve as valuable feedstock for various applications, including chemicals, construction materials, and alternative fuels. Moreover, the process contributes to creating negative emissions, aligning with the imperative goal of addressing climate change.

Greenlyte Carbon Technologies has a solid foundation built on 15 years of research, demonstrating the reliability and effectiveness of its technology at various developmental stages. This track record underscores the company’s commitment to delivering innovative and proven solutions in the field of Direct Air Capture.

Greenlyte Carbon Technologies’ successful Pre Series A round of €10.5 million reflects the company’s robust commercial progress, marked by impactful partnerships and high-value off-take agreements. Additionally, securing grants from the European Fund for Regional Development highlights the company’s recognition and support within the European innovation landscape. In just 18 months since its establishment, Greenlyte has demonstrated its ability to attract significant funding, totaling over €20 million in equity and grants.

The substantial participation of key investors, including Earlybird Venture Capital, Green Generation Fund, Carbon Removal Partners, Board member Dr. Udo Jung, and the new addition of Partech, underscores the confidence and support Greenlyte Carbon Technologies has garnered from strategic backers. This diverse group of investors reflects the company’s appeal to a range of stakeholders in the environmental, venture capital, and carbon removal sectors.

Greenlyte Carbon Technologies CEO and co-founder Florian Hildebrand’s acknowledgment of the rising demand for Direct Air Capture (DAC) in the wake of environmental challenges highlights the company’s strategic positioning within the context of increasing awareness and urgency regarding climate change. The mention of Q4 2023 as a pivotal stage suggests a significant shift in the market dynamics and emphasizes the timeliness of Greenlyte’s technology in addressing pressing global concerns.

Florian Hildebrand’s statement regarding the allocation of funds to grow the team, expedite technology development, and drive down costs underscores Greenlyte Carbon Technologies’ commitment to scaling its operations swiftly. The emphasis on becoming a global DAC champion aligns with the company’s aspirations to play a leading role in the emerging field of Direct Air Capture, showcasing a strategic vision for future growth and impact on climate-related challenges.