Greenlyte snaps €10.5M for climate concerns

2023 highlighted the devastating impacts of global warming, with a surge in demand for Direct Air Capture (DAC) technology. Startups like NeoCarbon and Noya secured investments, and now German startup Greenlyte Carbon Technologies is poised to revolutionize DAC with their affordable, durable technology. Greenlyte Carbon Technologies has secured a €10.5 million pre-series A funding round, supported by Earlybird Venture Capital, Green Generation Fund, Carbon Removal Partners, and Dr. Udo Jung from Partech. This funding, alongside successful partnerships and high-value agreements, has propelled the German startup's total raised funds to over €20 million. Additionally, Greenlyte has secured two grants from the European Fund for Regional Developments. Founded in 2022 by Florian Hildebrand, Dr. Niklas Friederichsen, and Dr. Peter Behr, Greenlyte specializes in a direct air capturing system that efficiently removes CO2 from the atmosphere using a liquid-sorbent solution. This innovative process requires minimal energy and produces hydrogen as a valuable byproduct. Florian Hildebrand, CEO and co-founder of Greenlyte, shared: “With the new funds, we will be able to grow our team from 30 to 50 people, allowing us to perform technology development and deployment in parallel with our expedited go-to-market, accelerate our scaling, and drive down costs more rapidly. The round is proof of our ambition to build a global DAC champion fast.”

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