NeoCarbon receives 3.2 million euros

NeoCarbon secures financing round for its innovative CO2 capture technology that relies on unused industrial heat - a step towards reducing emissions.

Berlin-based startup NeoCarbon has closed a €3.2 million financing round led by the RAISE Seed For Good fund. Existing investors such as PT1 - PropTech1 Ventures, Speedinvest and Antler participated as well as new strategic angel investors.

The startup is developing a technology for direct CO2 capture at industrial sites. The funds will be used to accelerate the development of a full-scale CO2 capture plant with its patented technology. NeoCarbon utilizes unused waste streams from industrial plants, such as excess heat, to power its CO2 capture plants. This is intended to reduce costs and promote acceptance on the market.

The climate crisis is causing more tangible and costly damage every year. That is why leading climate experts such as the Intergovernmental Panel on Climate Change are urging action to reduce carbon dioxide emissions as quickly as possible.

René Haas, CEO NeoCarbon

There are currently only 27 active direct air capture plants worldwide, which capture a total of around 10,000 tons of CO2 per year. The start-up wants to increase this capture in the future with optimized infrastructures. The funding will enable the team to be expanded and accelerate the completion of the first large-scale capture plant. This should significantly reduce the costs of CO2 capture. NeoCarbon CEO René Haas emphasizes the relevance of their contribution in view of the climate crisis and sees measurable successes of their technology soon.

Direct Air Capture is and remains an important topic as it is the only way to achieve carbon neutrality and offers a scalable approach to mitigate the effects of climate change.

Sophia Martin, Co-Head at RAISE Ventures

NeoCarbon was founded in January 2022 and already has one autonomous plant in operation. The launch of a second generation is planned by the first quarter of 2024.