Carbon Energy Completes A-Round Financing Worth Tens of Millions Yuan
On Wednesday, Carbon Energy (Beijing) Co., Ltd., a tech company specializing in carbon neutralization, announced the completion of an A-round of financing worth tens of millions of yuan. The leading investor was Sequoia China Seed Fund, co-investor was Miracle Plus, and the exclusive financial consultant was Winsoul Capital.
Carbon Energy was established in 2015 and is mainly engaged in negative carbon technology. It independently develops carbon dioxide electroreduction catalyst and electrolytic cell diaphragm technology, which can convert carbon dioxide emitted from industrial activities into zero-carbon fuels and green chemicals such as synthetic gas, synthetic oil and degradable plastics.
Dr. Kang Peng, founder of Carbon Energy, graduated from Stanford University and studied under Professor Thomas J. Meyer and Professor Maurice Brookhart, pioneers in artificial photosynthesis and academicians of the National Academy of Sciences in the United States Kang intends to build a Bell Laboratory in the field of energy.
There is a global consensus that excessive carbon dioxide emissions are leading to global climate change and, for the time being, carbon capture is the most direct and effective way to reduce carbon emissions. Carbon Capture and Sequestration (CCS) includes four parts: capture, transportation, utilization and storage. At present, CCS must address the two major limits of the technology. One is the high cost and the other is the proper utilization of the collected carbon.
Carbon Energy converts carbon dioxide emitted by industry output into higher value-added chemicals such as syngas and plastics by way of electrochemical technology. This method allows for a more economical and positive carbon cycle. This is also the technical route in which BMW, Audi and other enterprises have invested heavily.
In addition, in terms of equipment, Carbon Energy has made large-scale mask electrodes and developed lightweight and modular electrochemical reactors. Besides, the company has reaches agreements with Sinopec Engineering Incorporation in which the two sides agree to jointly develop a 10,000 ton level carbon dioxide electrolysis project. This carbon conversion equipment will be applied in industries with high carbon emissions such as thermal power, steel, cement, chemical industries and nonferrous metals.
SEE ALSO: Alibaba Pledges Carbon Neutrality by 2030
In addition to CCS, Carbon Energy also works on green hydrogen technology. It has independently developed a third generation composite diaphragm material for hydrogen production by the alkaline electrolysis of water, which greatly reduces the energy consumption for hydrogen in the process and ensures the safe operation of a high-power electrolyzer. The core material of the high-power electrolyzer has been monopolized by foreign companies over the past 30 years.
