Gothenburg-based climatetech company Plagazi has signed a €29.5 million grant agreement with the EU Innovation Fund to support its Gävle Circular Park project, which aims to produce hydrogen and capture CO₂ from non-recyclable waste using plasma gasification technology. The project was one of 85 selected from 337 applications in the Fund’s 2024 call. The grant, administered by the European Climate, Infrastructure and Environment Executive Agency (CINEA), is non-dilutive and will help finance infrastructure and technology deployment. Plagazi expects the funding to facilitate further private capital raising as it advances its role in low-carbon hydrogen production.
Plagazi focuses on developing and implementing plasma gasification technology to convert non-recyclable waste into hydrogen and captured carbon dioxide. The company’s approach integrates waste treatment with hydrogen production, aiming to provide a solution that addresses both waste management challenges and the need for low-carbon energy sources. Plagazi designs, develops, and operates waste-to-hydrogen facilities that can process mixed non-recyclable waste streams, producing hydrogen for industrial and transport applications while capturing CO₂ for potential reuse or storage.
Their business model includes technology licensing, plant construction, and ongoing operational management, alongside securing suitable feedstock to ensure continuous facility operation. Plagazi’s technology is positioned within broader efforts to reduce greenhouse gas emissions and support circular economy principles, particularly in sectors where decarbonization is difficult with current methods.
The grant signature follows the grant nomination back in October 2024, when Plagazi’s project was chosen as one out of 85 projects to receive funding among 337 applications.
“The grant signature is very rewarding following a very collaborative grant preparation process with the European Climate Agency [CINEA]. This non-dilutive funding agreement will be a great asset to attract private funding now”, said Soran Shwan, CEO of Plagazi AB. “We are proud that the EU has now put us on the map among other low-carbon hydrogen projects in Europe and that there is growing recognition that technology openness is the right approach to promote a strong climate tech sector in Europe”.
Powered by the patented Plagazi process and InEnTec-supplied plasma gasification technology, this project will transform non-recyclable waste into circular hydrogen and captured, liquid CO2, driving deep decarbonization in both industry and transport sectors.
This substantial funding brings Plagazi one step closer to becoming a leader in waste gasification-enabled circular economy solutions —and contributes to the EU’s broader mission for an energy secure, sustainable and zero-emissions future.
Read the orginal article: https://arcticstartup.com/plagazi-receives-e29-5-million-grant/
