Published by Todd Bush on February 5, 2024
SENDAI, Japan--(BUSINESS WIRE)--AZUL Energy, a clean chemistry startup that develops catalysts for next-generation energy systems, announced that it has raised ¥475 million in Series A funding. The company has developed a high-performance catalyst that offers the same performance as rare metal catalysts (such as platinum) but without the high costs or significant resource constraints. They intend to implement it in various applications to promote a decarbonized and recycling-oriented society.
>> In Other News: Howard Energy Partners Adds Richard Sherrill to Lead Howard Low Carbon Solutions Division
“Since the previous fundraising in 2021, we have provided samples to customers developing and manufacturing fuel cells, metal-air batteries, and water electrolyzers, and have conducted demonstration tests for full-scale adoption,” says Koju Ito, CEO at AZUL Energy. “With this new financing, we will promote the mass production of our proprietary catalyst and its electrode sheet. We will also promote business development overseas through the network developed in the MassChallenge program”.
This new round of funding was led by Spiral Capital, Inc., with participation from TOHOKU University, Venture Partners Co., Ltd., JMTC Capital LLC, Mitsubishi UFJ Capital Co., Ltd., Governance Partners Inc., and existing investor Spurcle Inc., totaling six companies in a third-party allotment of new shares.
“We are very pleased to be investing in AZUL Energy,” says Mr. Akitomo Naoi, Senior Associate at Spiral Capital, Inc. “In recent years, with the rapid progress in social implementation of renewable energy worldwide, Long Duration Energy Storage (LDES) technology has become one of the Climate Tech trends to watch. AZUL Energy's rare-metal-free catalyst is a promising technology for LDES as it enables hydrogen energy and battery energy storage, an innovation that attracted us to invest. We look forward to supporting this as a new catalyst platform that will lead the way to a decarbonized society.”
Established in 2019, AZUL Energy is developing high-performance catalysts invented by Tohoku University for next-generation energy systems. Although rare metal catalysts such as platinum are used in hydrogen energy systems and are expected to reduce CO2 emissions, they are costly and have significant resource constraints. AZUL Energy’s catalysts are lower cost and free of resource constraints, contributing to a more sustainable society.
R&D, manufacturing, and sales of catalytic electrodes used for the oxygen reduction reaction in fuel cells and metal-air batteries, as well as water electrolysis catalysts to improve performance and reduce costs in green hydrogen production.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💧 Lummus and Advanced Ionics Establish Partnership for Green Hydrogen 🌫️ Capturing Carbon From the Air Just Got Easier 🏗️ Linde to Provide Carbon Capture Technology for Offshore ...
Inside This Issue 🌊 Microsoft Clinches Ocean-based Carbon Removal Deal With Ebb Carbon 🌱 New $5 Million DOE Award Supports KU Startup’s Green Hydrogen Energy Research ⚙️ Energy Vault EVx™ Gravity ...
Inside This Issue 🛠️ BHP, JSW Steel To Explore Use of Carbon Capture Technology in Steelmaking 🏝️ Exxon Mobil’s Landmark Acquisition for Offshore CO2 Capture: A Big Step Toward Carbon Reduction 🚗 ...
Aviva Launches Carbon Removal Fund
The fund aims to provide investors with access to a range of carbon removal projects, at a time when governments are waking up to the scale of work required to meet the goals of the Paris Agreement...
Lummus and Advanced Ionics Establish Partnership for Green Hydrogen
Partnership will advance production of cost-effective and sustainable green hydrogen technology HOUSTON, Nov. 1, 2024 /PRNewswire/ -- Lummus Technology, a global provider of process technologies a...
Capturing Carbon From the Air Just Got Easier
A new type of porous material called a covalent organic framework quickly sucks up carbon dioxide from ambient air Capturing and storing the carbon dioxide humans produce is key to lowering atmosp...
Linde to Provide Carbon Capture Technology for Offshore ADNOC Project
Linde Engineering has signed an agreement with NEXTCHEM to provide carbon capture technology to Abu Dhabi National Oil Company’s (ADNOC) Hail and Ghasha project. Located in the United Arab Emirates...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.