UP Catalyst funding news – Tallinn-based UP Catalyst Secures €2.36 Million in Seed Extension Funding

This rounds out the seed funding to €6.36 million, which includes the €4 million raised in the first seed round last December.Extantia, Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures are among the current investors that still back UP Catalyst's efforts to expand its production capacity.

With this finance, UP Catalyst will be able to expedite the development of its unique industrial production facility and establish itself as the world's leading supplier of carbon products generated on CO2.

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With only 0.07 tons of CO2-eq per ton of graphite—20 times less than conventional graphite production—and 0.7 tons of CO2-eq per ton of carbon nanotubes—an astounding 242 times lower than the emissions from the conventional Chemical Vapor Deposition (CVD) method—UP Catalyst's production process has a very low carbon footprint.

Dr Gary Urb, CEO of UP Catalyst said, “By 2030, the EU will require 3 million tons of carbon materials for electric vehicle batteries. Despite having the potential to utilise 11 million tons of CO₂ through existing technology, the EU currently invests in underground storage and imports fossil-based materials from China, The technology is ready—we just need the investment to scale up as a crucial step toward utilising at least 200 thousand tons of CO2 annually by 2030.”

Arvin Khanchandani, Investment Manager at Warsaw Equity Group said, “Supporting UP Catalyst aligns perfectly with Warsaw Equity Group’s mission to invest in ground-breaking technologies that combat climate change. Turning industrial CO2 emissions into critical carbon-based raw materials that we are severely lacking in Europe is a game changer. We have been continually impressed by the strength and expertise of UP Catalyst’s team and look forward to this partnership,”.

With this investment, the business plans to accelerate the construction of an industrial pilot reactor that can process 100 tons of CO2 per year and produce 27 tons of advanced carbon materials, including carbon nanotubes and graphite. In addition to aiming for cost parity with conventional carbon sources, the method based on molten salt electrolysis also intends to considerably reduce the carbon footprint associated with raw material manufacturing.

With 10 times the output capacity of the current setup, the new facility will represent a major step towards the development of an industrial reactor unit on a full scale. This novel strategy lessens the EU's reliance on imports of fossil fuels from outside while also providing industrial partners with a way to use their CO2 emissions, which may eliminate the need to buy allowances from the EU Emissions Trading System (ETS) or lessen the burden of carbon taxes.

About UP Catalyst

UP Catalyst converts CO2 emissions into graphite and carbon nanoparticles. They are used in concrete, biomedicine, and electric vehicle batteries, among many other things.