Naarden, the Netherlands-based CarbonOrO, a cleantech company that provides low-cost CO2 capture and separation technology, announced that it has secured €4.1M in a Series A round of funding. The round was led by Icos Capital, INPEX CORPORATION, Putifer, and the founder’s trio.
The company says it will use the funds to deliver on an existing pipeline of three industrial pilots to lower emissions from the waste-to-energy and steel industry, and to capture and reuse carbon dioxide from a brick manufacturer.
Roger Meertens, CEO at CarbonOrO, says, “This investment demonstrates our investors’ confidence in our technology and its commercial scalability. Working closely with our new
investors, we look forward to growing CarbonOrO’s carbon capture technology to a scale that can contribute to global ‘net zero’ emissions in heavy industry.”
CarbonOrO: What you need to know
The Dutch company aims to mitigate climate change with effective and affordable CO2 capture out of flue gas.
The cleantech company has developed a proprietary amine solvent which allows for the desorption of CO2 at a much lower temperature than prevailing amine solvents.
This technique allows instantaneous CO2 evasion and lowers the energy used in the process.
Icos Capital is a Dutch-based ClimateTech Venture Capital Fund. The VC backs high-potential technology to contribute to rapid decarbonisation and a smooth transition to the circular economy, specialising in Food Systems, Circular Economy, Sustainable Industry, and Carbon Technology.
Peter van Gelderen, Partner at Icos Capital, says, “This technology has proven cost and carbon leadership and is now ready to scale strategically. We believe this is yet another compelling Climate Tech proposition that can make a real impact in the ‘net zero’ puzzle, and we look forward to supporting the company in its growth.”