Paris-based CryoCollect, a startup specializing in biogas carbon capture, has recently secured $4.3 million (€4 million) in funding from Engie New Ventures and GTT Strategic Ventures. Founded in 2017, CryoCollect focuses on treating, purifying, and liquefying gases such as biomethane, carbon dioxide (CO2), and hydrogen using their technology to capture, purify, and liquefy CO2 from biogas produced through anaerobic digestion.
In a statement, CryoCollect’s CEO and co-founder Haytham Sayah expressed enthusiasm about the collaboration with Engie and GTT, emphasizing their shared goal of accelerating the energy transition. Sayah highlighted the synergy between CryoCollect’s technology and Engie’s activities in biogas production, bio-LNG, and industrial energy efficiency. Biogas can be processed into biomethane or bio-LNG to support decarbonization efforts in sectors like road transport and heavy industry.
Johann Boukhors of Engie New Ventures noted the strategic alignment of CryoCollect with their investment portfolio marking it as their third biogas-related investment and the first in carbon management. Camille Bonenfant-Jeanneney of Engie Renewable Gases Europe praised CryoCollect’s energy-efficient carbon capture technology calling it the new standard in the biogas industry. This technology has the potential to revolutionize waste management and CO2 reduction efforts aligning with broader goals of sustainability and environmental protection.
CryoCollect’s innovative approach to capturing CO2 from biogas is set to have a significant impact on various industries by reducing emissions while providing liquid biogenic CO2 that can replace fossil fuels such as coal or oil in manufacturing processes. The company aims to disrupt traditional methods of waste management by using its technology to extract value from organic waste while contributing towards achieving a sustainable future.
The funding received by CryoCollect will be used to expand its operations globally while further developing its proprietary technologies that capture CO2 emissions effectively without adding any additional energy sources. The collaboration with Engie New Ventures and GTT Strategic Ventures will also provide valuable insights into market trends while expanding its network within the industry.
Engie is committed to investing in companies that share its vision for a sustainable future by reducing greenhouse gas emissions while promoting renewable energy sources. The collaboration between CryoCollect and Engie will help accelerate this vision by providing liquid biogenic CO2 that can be used across various industries as a sustainable alternative source of fuel.
Overall, this partnership represents an exciting opportunity for both companies to contribute towards achieving a more sustainable future while promoting innovation within the industry. By working together, they can help reduce carbon emissions while creating new opportunities for growth within various industries.
In conclusion, Paris based startup CryoCollect has secured $4.3 million (€4 million) in funding from Engie New Ventures and GTT Strategic Ventures for capturing CO2 emissions effectively without additional energy sources using its proprietary technologies. This partnership represents an exciting opportunity for both companies to contribute towards achieving a more sustainable future while promoting innovation within the industry by providing liquid biogenic CO2 as an alternative source of fuel across various industries.
