Berlin-based startup Ucaneo has raised €6.75 million in seed funding to advance its direct air capture (DAC) technology. The funding round was led by Smart Energy (SEIF) by Energie 360° and IBB Ventures, with participation from Plug and Play Sustainability Fund and existing investors such as Grantham Environmental Trust and Carbon Removal Partners. The capital will enable Ucaneo to build one of Germany’s largest DAC testing facilities and develop its first industrial-scale product.
Florian Tiller, Ucaneo’s co-founder and CEO, said, “This is a pivotal moment for our company. The growing recognition of the critical need for CO2 removal technologies, coupled with increasing regulatory support, positions Ucaneo at the forefront of this transformative sector.
Ucaneo’s CO2 removal technology is modeled on the human lung’s ability to manage CO2, using an electrochemical process that operates at room temperature. This approach allows the company to capture CO2 from the atmosphere, converting it into pure gas for industrial use.
The DAC system is energy-efficient and can operate with renewable energy sources like solar and wind.
Ucaneo secures seed funding
Carla Glassl, Ucaneo’s co-founder and CTO, stated, “To scale carbon removal, we need accelerated hardware development! Ucaneo’s technology is designed for rapid iterations, leveraging proven components and established supply chains with a modular design suitable for global deployment.”
Ucaneo aims to tackle global CO2 emissions with cost-effective solutions.
Their DAC system targets a price of below €300 per tonne of CO2 in the coming years, with plans to reduce this to under €100 per tonne. By 2026, Ucaneo plans to have its first industrial-sized product running at its new DAC facility in Berlin. To achieve these goals, Ucaneo has moved its operations to the high-tech Campus in Marzahn, Berlin.
This collaborative innovation hub offers startups access to state-of-the-art resources like robotic labs, clean rooms, and certification services. Lars Hennersdorf, Investment Manager at Smart Energy Innovationsfonds by Energie 360°, commented, “At SEIF, we’re all about supporting innovative startups crucial for a sustainable energy future. With CO2 removal tech on the rise, we’re excited to back Ucaneo’s amazing team and technology to further decarbonise various industries.
Ucaneo’s rapid progress in developing functional lab-scale prototypes within just two years has captured the attention of investors and industry experts.
The company’s DAC system offers an energy-efficient, affordable, and scalable solution for capturing CO2 from the atmosphere, helping industries reduce their carbon footprint and meet sustainability targets.
