Greenlyte, founded in 2022 and based in Essen, is building a facility in Chemiepark Marl to produce synthetic methanol (eMethanol). The company’s process uses CO2 captured from the atmosphere and green hydrogen as feedstocks. It received several million euros in EU funding from the Produktives.NRW program to accelerate industrialisation and commercial introduction of its technology. The funding was presented by NRW economics and climate protection minister Mona Neubaur and is shared with another company from Hürth. The Produktives.NRW initiative has 48 million euros available to support new production sites for environmental technologies in the Rheinisches Revier and the Ruhrgebiet. CEO Florian Hildebrand said the financing will speed up industrialisation and pave the way for commercial rollout (per a LinkedIn post). Greenlyte develops a direct air capture (DAC) system that uses a liquid-sorbent solution to remove CO2 from the atmosphere. Their process operates with minimal energy, produces hydrogen as a byproduct, can be fully integrated with renewable energy, and does not rely on high heat or pressure. The captured CO2 and generated hydrogen can be used as feedstock for chemicals, construction materials, and alternative fuels, or to create negative emissions. The company plans to use the €10.5M Pre-Series A to expand operations and further development efforts. Greenlyte was founded at the end of 2022 by Florian Hildebrand, Dr. Niklas Friederichsen, and Dr. Peter Behr and is based in Essen, Germany. The round included participation from Earlybird Venture Capital, Green Generation Fund, Carbon Removal Partners, board member Dr. Udo Jung, and Partech. Greenlyte Carbon Technologies develops a direct air capture system that causes a salt to fall out of solution after CO2 absorption and later regenerates that sludge with electrolyzers, releasing CO2 and producing hydrogen. The technology is based on roughly 15 years of research by Peter Behr at the University of Duisburg‑Essen and was adapted by CEO Florian Hildebrand. Founded in September 2022, the company is on track to complete a pilot plant capable of removing 100 metric tons of CO2 annually this September. Investors pledged €3.5 million in a pre-seed six months ago and extended that commitment by €4.5 million in the latest financing. Management projects carbon removal costs of about €250 per metric ton in 2025, €150 per metric ton by the end of the decade, and under €100 per ton once capacity exceeds 10,000 metric tons per year, with hydrogen sales helping economics. The team says capex reduction is the main driver of lower CO2 prices and expects profitability with a plant that costs less than €10 million.

Total raised

$16M

Funding rounds

3

Latest round

Series A

Latest activity

Mar 2024