Spark Cleantech Raises €30M To Power Heavy Industry With Clean Energy

The round was led by 360 Capital and Taranis, with participation from the Île-de-France Reindustrialisation Fund, Asterion Ventures, and other investors.

Founded in 2022 in the laboratories of CentraleSupélec by Erwan Pannier and Patrick Peters, Spark Cleantech develops technology to decarbonise high-temperature industrial processes in sectors such as glassmaking, metallurgy, polymers, and batteries.

“Following our Seed round in the summer of 2023, we succeeded in deploying a first industrial pilot in under a year. We have validated clear market traction and assembled a world-class international team. This funding will enable the scale-up that industrial players are seeking to reduce their carbon footprint cost-effectively and to accelerate commercial deployment,” comments Patrick Peters, co-founder of Spark Cleantech.

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The company’s patented pulsed plasmolysis process removes carbon from industrial gas before combustion, producing hydrogen as a fully decarbonised energy source and converting extracted carbon into solid nanomaterials used in polymers and batteries. This approach reduces emissions by up to 85%, requires minimal changes to existing operations, and increases the combined economic value of outputs by four times.

The new funding will enable Spark Cleantech to complete and operate its first production module, qualify its first commercial carbon grades, and expand its team by around 20 hires across engineering, R&D, and commercial operations. Pilots are already underway with major industrial customers.

“The decarbonisation of heavy industry is one of the defining challenges of the decades ahead. But we must be candid: without economic viability, it simply will not happen. In Spark Cleantech, we found a team of entrepreneurs and industrial leaders who share this pragmatic view and who are delivering a technology that responds directly to it,” adds Thomas Nivard, Partner at 360 Capital.

About Spark Cleantech

Spark Cleantech develops modular, on-site production of clean hydrogen using proprietary non-thermal plasma technology. By converting (bio)methane into hydrogen and carbon black the process achieves a zero or negative carbon footprint with minimal electricity use. Spark provides cost-effective, decarbonised hydrogen solutions for heavy industry and carbon-free mobility.