#Netherlands #Amsterdam #Direct Air Capture #e-Fuels #Brineworks

Brineworks Secures €6.8M in Funding for Innovative Direct Air Capture Technology

Brineworks, an Amsterdam-based climate technology startup, has recently announced a significant funding round, securing €6.8 million to expedite the commercialization of its innovative Direct Air Capture (DAC) technology. This funding aims to further the company's mission of creating ultra-low-cost carbon-neutral alternatives for the aviation and shipping industries, which are crucial for global efforts to reduce carbon emissions.

The Necessity of Innovation in Carbon Capture

The aviation sector is currently responsible for approximately 2.5% of the world's CO₂ emissions, with demand for air travel on the rise. The shipping industry contributes over 3% of total emissions. Given the urgent need for sustainable solutions, Brineworks is focused on creating scalable alternatives to traditional fuels. The company's unique approach combines inputs from renewable energy with advanced electrolyzer technology, enabling the production of hydrogen and e-fuels such as sustainable aviation fuels (SAF) and e-methanol at a fraction of the current costs.

Funding and Collaborative Support

The recent investment round was led by SeaX Ventures, alongside contributions from other forward-thinking investors like Pale Blue Dot, First Momentum, AiiM Partners, Energie360°, and Katapult. Additionally, Brineworks has been awarded a €1.8 million grant from the European Innovation Council (EIC) Accelerator program, which supports groundbreaking innovations across Europe.

“The world is clearly moving towards renewable energy at an unprecedented pace,” stated Gudfinnur Sveinsson, CEO of Brineworks. “Our electrolyzer not only harnesses this energy effectively but does so at a remarkably low cost, making DAC viable on a large scale.”

Breakthrough Technology for a Sustainable Future

Central to Brineworks' technology is its patented electrolyzer, designed to operate flexibly according to the availability of renewable power. This crucial feature differentiates Brineworks from traditional systems that struggle to integrate intermittent energy sources. As Dr. Joseph Perryman, Brineworks’ co-founder and CTO described, “We have successfully proven that capturing CO₂ from the air can be done at under €100 per ton. This is the threshold that industry stakeholders have been eagerly awaiting.”

The company plans to utilize its recent funding to scale the technology towards pilot-level operations, with the ambitious goal of achieving commercial readiness by the end of 2026. If successful, Brineworks could facilitate a substantial shift towards carbon-neutral aviation fuels, potentially transforming air travel by the next decade.

A Vision for Energy Independence

By pairing its DAC system with other technologies used for synthetic fuel production, Brineworks aims to offer a solution that not only addresses emissions but also promotes energy independence for countries around the world. This decentralized approach could revolutionize fuel production, providing nations with the tools to create their own sustainable options, thus reducing reliance on traditional fossil fuels.

Dr. Kid Parchariyanon from SeaX Ventures expresses confidence in Brineworks, stating, “We believe in their capacity to significantly reduce global emissions. Supporting innovators like them aligns with our commitment to cut 1% of the world’s carbon footprint.”

The Road Ahead: Commercialization and Impact

Since its establishment in late 2023, Brineworks has made rapid strides from conceptualization to prototype validation. As the startup gears up for the next phase of its journey, it stands at the intersection of technology and environmental stewardship, committed to providing scalable solutions for some of the hardest-to-abate sectors.

In summary, Brineworks is not just developing cutting-edge technology; it is paving the way for a more sustainable future by tackling some of the most pressing global challenges. With its recent funding and ongoing innovations, this startup is poised to lead the charge towards a greener, more sustainable energy landscape.

About Brineworks

Founded by climate policy expert Gudfinnur Sveinsson and electrochemist Dr. Joseph Perryman, Brineworks is focused on developing advanced Direct Air Capture technologies to facilitate affordable e-fuel production. The company is dedicated to creating scalable solutions that will contribute significantly to decarbonizing aviation and maritime industries.

For more information on Brineworks and its pivotal role in the climate tech landscape, visit www.brineworks.tech.