Cool Planet Technologies Limited (“Cool Planet” or the “Company”) is pleased to announce that the Company has successfully raised €23.7 million in a Series A2 funding round. The investment has been provided by industrial investors, further validating the appeal of our compact, low- energy and low-cost membrane-based carbon capture solution.
The funding round was led by Taranis Carbon Ventures. Other investors in the round were CRH Ventures and BlueScopeX with the Company’s existing investors Eni Next, NEVA SGR (the Intesa Sanpaolo Group’s venture capital company) and Audacy Ventures also participating.
This funding will advance Cool Planet’s ambition of becoming a leading provider of highly efficient point source carbon capture solutions for industrial emissions and will also enable the Company to complete the demonstration of its technology at scale whilst accelerating commercial deployment, including the construction of a membrane manufacturing facility.
Cool Planet closed an oversubscribed A1 Round in September 2022. LAB Energy Advisors assisted Cool Planet in the capital raise.
Andrew Corner, the CEO of Cool Planet Technologies, commented:
“We are delighted to have the support of these three new major industrial investors and we want to thank our existing investors for their continued support. The investment is a significant endorsement and demonstrates their confidence in the technical advantage and commercial potential of our technology as well as the Cool Planet team. Cool Planet is committed to bringing affordable, modular decarbonisation solutions to industries and sectors that historically have been hard to decarbonise. We believe that our technology will significantly reduce the cost of carbon capture and help to accelerate its adoption at scale.
This investment will enable us to demonstrate both the potential of our technology at scale and how Cool Planet will become a leading player in providing affordable solutions to help decarbonise multiple industries. We look forward to demonstrating our advanced modular membrane capture technology next year at a plant capturing 10,000 tonnes per annum of carbon dioxide at Holcim’s Höver cement plant near Hannover in Germany.”
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Company Contact
Mark Purdy E: [email protected]
Media Enquiries
Tavistock Communications T: +44 (0)207 920 3150
Nick Elwes M: +44 (0)7831 851 855
Notes to Editors
About Cool Planet Technologies Limited
Cool Planet Technologies is a carbon capture company significantly reducing the cost of carbon capture using advanced membrane-based technology in hard to abate sectors including cement, lime, steel, energy from waste and coal-fired power generation.
The chemical-free process uses significantly less energy than established carbon capture technologies and can be powered entirely from renewable electrical power making it an environmentally friendly technology choice. The compact, scalable, modular, and operationally flexible process makes it ideal for retrofit and new-build applications.
Cool Planet has the exclusive rights to commercialise the membrane technology, which was developed by Helmholtz Zentrum Hereon, part of Germany’s largest research organisation. Cool Planet and Hereon are collaborating on the development and commercialisation of the technology, which has been continuously improved and validated in multiple pilot tests over the last decade, including a highly successful test at Holcim’s, the world largest cement manufacture, Höver cement plant in 2022.
Cool Planet will undertake a demonstration at scale of the advance membrane capture technology at Hereon’s site in 2025. This will be followed by Cool Planet operating the technology at a scale of 10,000 tons of captured carbon dioxide per annum in 2025 as part of the project with Holcim to upscale the technology for the decarbonisation of their Höver plant.
For further information please visit: www.coolplanettech.com
Follow Cool Planet Technologies on LinkedIn: www.linkedin.com/company/cool-planet-technologies
About Taranis Carbon Ventures
Taranis is the investment and asset management arm of the Perenco Group, dedicated to supporting sustainable development through four distinct funds. These include Taranis Carbon Ventures, a venture capital fund that invests in technologies aiming to accelerate carbon circularity, such as Cool Planet Technologies, which aligns with Taranis’ mission to reduce environmental impact while unlocking value.
In addition to Taranis Carbon Ventures, Taranis also manages the Taranis Energy for Africa, Taranis Decommissioning Fund, and Taranis Nature-Based Solutions—all contributing to the core commitment of driving sustainability across various sectors.
More information at www.taranis.eu.
About CRH Ventures
CRH Ventures is the venture capital unit of CRH, the global leader in building materials solutions. With access to a $250M Venturing and Innovation Fund, CRH Ventures partners with and invests ambitiously and strategically in ConTech and ClimateTech start-ups across the entire construction value chain.
More information at www.crhventures.com.
About BlueScopeX
More information at www.bluescopex.io
About Eni Next
Eni Next is Eni’s corporate venture capital company investing in high-growth start-ups to boost the energy transition to a zero-carbon future. In particular, Eni Next evaluates and invests in companies developing technologies with a lower carbon footprint for energy production, improved efficiency for industrial operations and digital solutions.
More information at: www.eni.com/eninext/en-US/home.html
About Neva SGR
Neva SGR, part of the Intesa Sanpaolo Group and wholly owned by Intesa Sanpaolo Innovation Center, designs and manages investment funds for professional investors interested in capturing the diversification and high-yield opportunities offered by venture capital investments. Neva SGR is the perfect combination of the strength, reputation and stability of the Intesa Sanpaolo Group with the best practices of international venture capital firms. Neva SGR can rely on the financial resources, know- how and relationship network of Intesa Sanpaolo Innovation Center and Intesa Sanpaolo Group, a unique source of value in the market. Neva SGR can follow trends and markets from a privileged position and acts with the strength and responsibility of Italy’s leading banking group. Neva SGR’s investment funds are designed for excellent, high-tech, highly innovative start-ups that exploit trends with exponential growth potential. Neva SGR aims to contribute to the growth of the Italian economy through investments in new technologies and to be the market maker of the Venture Capital asset class in Italy.
More information at: www.nevasgr.com
About Audacy Ventures
Audacy Ventures is a leading energy tech VC firm based in APAC dedicated to catalysing and scaling technology solutions to advance the energy transition. Founded in 2017 by a team of experienced energy and infrastructure investment professionals, Audacy invests globally in frontier technology companies with a focus on three key themes: Electrification & Storage, Transportation & Fuels, Carbon Removal & Utilisation.
More information at: www.audacyventures.com