UP Catalyst, an Estonian company, has secured €2.3 million in additional seed funding, bringing their total seed investment to €6.36 million. This funding will be used to advance the construction of their industrial production unit, designed to produce graphite and other carbon materials from CO₂ emissions.
The company employs a technology called Molten Salt Carbon Capture and Electrochemical Transformation (MSCC-ET), which converts industrial CO₂ into graphite and carbon nanomaterials. The process is designed to be more energy-efficient and to reduce the carbon footprint associated with traditional graphite production methods. UP Catalyst reports that their method results in a carbon footprint of 0.07 tons of CO₂-equivalent per ton of graphite, significantly lower than conventional methods.
To produce one ton of graphite, UP Catalyst’s process captures approximately 3.7 tons of CO₂. This approach allows for the efficient utilization of CO₂ emissions, turning a waste product into a valuable resource.
Currently, UP Catalyst plans to produce 27 tons of graphite / carbon materials annually by processing 100 tons of CO₂. By 2030, the company aims to significantly scale up its operations, with a goal of utilizing at least 200,000 tons of CO₂ annually. Assuming similar proportions, this could result in production of up to 54,000 tons of graphite.
This could be a positive step for the European graphite market which currently relies heavily on imports and is projected to face a significant supply gap by 2030. By that time, Europe is expected to require more than 500,000 tonnes of graphite solely for the battery industry.
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