Pfronten-based autarkize, a startup that scales a market-ready system technology with which a high-quality gas made of methane and hydrogen is obtained, has successfully closed a €2.3 million seed funding round. With the fresh capital, autarkize plans to accelerate its expansion, especially in the areas of biogas technology and heat and steam production.
autarkize aims to advance the decarbonization of industrial processes and create large-scale CO2 sinks to positively impact the global climate. The round was led by High-Tech Gründerfonds (HTGF). Other investors include Dutch impact investor Fair Capital Impact Fund, Interface Capital, Innovation for Impact, Floris Capital and renowned business angels Lucas von Fürstenberg and Ulrich Blessing.
autarkize has developed a groundbreaking technology that converts biogenic residues—such as waste wood, shells, and fermentation by-products—into renewable gas and certified biochar. The gas substitutes fossil fuels in industrial processes, while the biochar acts as a CO2 sink and can also be used in agriculture and construction. Each autarkize plant can sequester between 1,400 and 5,500 tons of CO2 annually and generate up to 10 GWh of renewable energy, making a significant contribution to climate change mitigation.
“The financing allows us to launch our systems on a large scale, creating value for customers and contributing to climate protection. autarkize is positioned to be a leading provider in the transition to a sustainable energy future,” said Michel Konder, CEO of autarkize.
autarkize’s solutions are highly standardized systems installed in sea containers with a capacity of up to 2.5 megawatts. These containerized systems can be seamlessly integrated with existing biogas plants and industrial applications. Additionally, they provide an excellent solution for decarbonizing heat, especially for local and district heating networks in municipalities.
Maximilian Scholz, Investment Manager at HTGF, commented: “We see great potential in the utilization of previously unused waste streams and biomass, which can be converted and utilized into high-quality synthesis gas and biochar using the innovative plant technology. This solution not only provides climate-neutral energy, but also makes an important contribution to CO2 reduction.”
Patrick Knodel, CEO of Innovation for Impact, looks for: “solutions that enable humanity to thrive within planetary boundaries, that enable circularity and that are pushed forward by purpose driven founders with strong backgrounds in their respective fields of expertise. autarkize ticks all the boxes.”
Michelle de Rijk, Impact Investor at Fair Capital Impact Fund, added: “autarkize’s solution is a critical step towards becoming more resilient to the impacts of climate change. This investment aligns perfectly with our energy transition program, aimed at creating lasting, positive change for both people and the planet.”
Read the orginal article: https://www.eu-startups.com/2024/10/german-climate-tech-autarkize-raises-e2-3-million-to-drive-sustainable-energy-transition/
