UP Catalyst, a leading nanotech company based in Tallinn, Estonia, announced the successful closure of a €4 million seed round. The round was led by Berlin-based climate tech VC fund Extantia and supported by Estonia’s state fund SmartCap, along with the continued participation of existing investors Sunly, Little Green Fund, Scottish Baltic Invest and UniTartu Ventures. UP Catalyst is a pioneering green technology startup specializing in transforming CO2 into valuable carbon nanomaterials and graphite, aiming to revolutionize the electric car battery industry through sustainable products and a carbon-negative approach. This funding marks a critical step forward in the continent’s pursuit of a local and eco-friendly supply chain for electric mobility.
UP Catalyst stands at the forefront of green technology, specializing in transforming CO2 into valuable carbon nanomaterials and graphite with applications ranging from electric vehicle batteries to biomedicine and concrete. With a core mission to revolutionize the electric car battery industry by improving battery properties sustainably, UP Catalyst offers a carbon-negative solution powered by renewable energy, while simultaneously securing local supply chains for critical raw materials. Bridging a market gap with sustainable graphite, the company harnesses significant intellectual capital to provide an eco-friendly alternative to mining practices, mitigating environmental impact and fostering a sustainable future.
The timing of this financial boost couldn’t have been more opportune, coinciding with recent reports of Chinese export restrictions on graphite. Viewing this as Europe’s green opportunity, UP Catalyst is set to revolutionize the sector by creating a reliable domestic source for essential materials.
Led by Berlin-based climate tech VC fund Extantia and backed by Estonia’s state fund SmartCap, the seed round also saw continued support from existing investors such as Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures.
With the infusion of capital, UP Catalyst plans to construct an industrial pilot reactor capable of processing 100 tons of CO2 annually, generating a substantial 27 tons of carbon materials. This strategic move is poised to position UP Catalyst as the world’s premier supplier of green graphite, setting a new benchmark for sustainability in the industry.
The upcoming reactor’s enhanced capacity, ten times larger than the current setup, signifies a pivotal milestone before the installation of a full-scale industrial reactor unit. This expansion aligns with the company’s ambitious vision to significantly contribute to the reduction of Europe’s carbon footprint.
In outlining their trajectory, UP Catalyst aims to power approximately 4 million cars with batteries made from green graphite by 2030. Their commitment and groundbreaking advancements in sustainable raw material production for electric vehicles establish UP Catalyst as a frontrunner, leading the charge in the pursuit of a greener automotive industry.
Read the orginal article: https://arcticstartup.com/up-catalyst-raises-e4m-seed/