C1 receives five million euros
C1 wants to make the production of methanol greener with a new process. The start-up has now received money from investors.
C1 has completed a financing round worth five million euros. The money comes from Planet A Ventures and Paua Ventures. A number of business angels have also invested. These include former BASF CEO Jürgen Hambrecht, Linde Supervisory Board Chairman Wolfgang Reitzle and Siemens Supervisory Board Chairman Jim Hagemann Snabe.
Quantum mechanic Marek Checinski, chemical engineer Ralph Krähnert, chemist Christoph Zehe and entrepreneur Christian Vollmann launched C1 this year. The start-up develops new chemical processes based on renewable raw materials and energy using simulations on a quantum computer.
The company has now been able to develop a process for producing methanol. Until now, the alcohol has mainly been produced from fossil fuels. The new process will now use a catalyst to produce green methanol from biomass, used plastic, CO2 or hydrogen. This could be used, for example, to power ships in a more climate-friendly way.
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