Ucaneo raised €6.75M in a seed funding round led by Smart Energy Innovationsfonds to accelerate the development of its CO2 removal technology.

Sep 10, 2024•over 1 year ago

Amount Raised

€6.75 Million

Round Type

seed

BerlinEnvironmental ServicesRenewable EnergyBiotechnology

Investors

Carbon Removal PartnersGrantham Environmental TrustPlug And Play Sustainability FundIbb VenturesSmart Energy Innovationsfonds

Description

Berlin-based climate tech startup Ucaneo has successfully raised €6.75M in seed funding to advance its cutting-edge direct air capture (DAC) technology. This capital injection will enable Ucaneo to build one of Germany’s largest DAC testing facilities and develop its first industrial-scale product.

Company Information

Company

Ucaneo

Location

Berlin, Berlin, Germany

About

Ucaneo is a German climate tech startup focused on developing innovative CO2 removal technologies, particularly in the direct air capture (DAC) sector. Their approach utilizes an electrochemical process modelled on the human lung to capture CO2 efficiently at room temperature. Ucaneo's goal is to drive down costs in carbon capture, aiming for a price of below €300 per tonne of CO2 in the coming years. The company plans to scale its operations with one of Germany’s largest DAC testing facilities to foster development and commercialization.

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