TRINITI advised UP Catalyst, a producer of battery material production directly from CO2 emissions, in raising a €2.36M seed extension investment from Warsaw Equity Group and SmartCap. Together with the initial seed round raised last December, the total seed funding now amounts to €6.36 million.
The funding will accelerate the construction of the company’s first-of-a-kind industrial production unit. With this investment, the company hopes expedite the development of an industrial pilot reactor with the aim of processing 100 tons of CO2 annually, yielding 27 tons of advanced carbon materials such as graphite and carbon nanotubes. The technology built on molten salt electrolysis not only aims to achieve price parity with traditional carbon sources but also significantly reduces the carbon footprint associated with raw material production. “By 2030, the EU will require 3 million tons of carbon materials for electric vehicle batteries. Despite having the potential to utilise 11 million tons of CO₂ through existing technology, the EU currently invests in underground storage and imports fossil-based materials from China,” said Dr Gary Urb, CEO of UP Catalyst. “The technology is ready—we just need the investment to scale up as a crucial step toward utilising at least 200 thousand tons of CO2 annually by 2030.”
TRINITI advised the client throughout the transaction, providing assistance with negotiating and amending the transaction documents, and supported the client with related matters. Our team included senior associate Peeter P. Mõtsküla and associate Katrin Kose.
