C1 to receive funding to build ground-breaking methanol plant
Team C1 presenting the first barrel of methanol from the pilot plant in Leuna. September 02, 2024 - © C1
Berlin-based cleantech innovator C1 Green Chemicals AG has raised €20 million in fresh capital to accelerate the commercialization of its groundbreaking green methanol catalysis technology, according to a company press release.
The funding round was led by denkapparat, the family office of think-cell founders Markus Hannebauer and Arno Schödl, with participation from Planet A Ventures, Maersk Growth, SquareOne, and notable industry figures including former Linde CEO Prof. Wolfgang Reitzle and Siemens Chairman Jim Hagemann Snabe. Of the total raised, €15 million came from a capital increase and €5 million from approved research grants.
"At C1, everything comes together perfectly: Cutting-edge research targeting an ecologically and commercially significant problem, pragmatic founders with a clear vision, and a team boasting impressive technological and commercial expertise," said Markus Hannebauer from denkapparat.
The company plans to use the capital to build the world's first demonstration plant for homogeneously catalyzed methanol, with construction scheduled to begin in 2025. This technology aims to replace fossil resources in three key industries: shipping, aviation, and carbon-based chemical production.
C1's proprietary process represents a major advancement over current methods. Developed in collaboration with CreativeQuantum and Leibniz Institute for Catalysis (LIKAT), their homogeneous catalysis operates at lower temperatures and pressures than conventional processes dating back to 1921, while offering greater selectivity, flexibility, and scalability.
The Berlin startup has been attracting top talent from established industrial giants including Linde, BASF, Clariant, Shell, and Tesla. "Two ingredients are crucial for the successful commercialization of scientific innovation: talent and capital. We are delighted that we at C1 have excellent access to both," noted Christian Vollmann, CEO of C1 Green Chemicals AG.
