Daphne Technology secures strategic investments from Shell Ventures, Trafigura, AET and Saudi Aramco Energy Ventures.

29.10.2021 10:02, Guillaume Tinsel

Daphne Technology, a Swiss climate tech startup addressing the Greenhouse Gas (GHG) challenge, continues to attract world leaders of the global economy. Investors in this round include Shell Ventures, Trafigura, AET, and Saudi Aramco Energy Ventures, all committed to limiting global warming.

Shell Ventures led the CHF 10 million capital raise along with Trafigura. AET, and all previous investors co-invested, including Saudi Aramco Energy Ventures and the Innovation Fund. The capital raise earmarks the second round of funding since Daphne Technology spun off from the Swiss Federal Technical Institute (EPFL) in 2018.

Daphne leverages innovative technology to remove toxic and GHG emissions such as nitrogen oxides, methane, and carbon dioxide from the combustion gas of any fuel type, including oil, LNG, biofuels, ammonia, and hydrogen. The plug-and-play solution breaks down the pollutants, converting them into non-hazardous by-products, which are either released into the environment or transformed into valuable products. As a result, Daphne contributes to a circular economy and a significant reduction in GHG emissions.

The transition to sustainable energy sources is fundamentally reshaping the global economy. Daphne Technology will help the transition to net-zero in the maritime and hard-to-decarbonize sectors.

• A dramatic reduction of GHG emissions is a must to meet the Paris Agreement goals and International Maritime Organization (IMO) regulations.
• The vision of Daphne Technology is to convert toxic and GHG pollutants such as nitrogen oxides, methane, and carbon dioxide into upcycled and useful products, both at sea and on land.
• The company is currently pursuing commercial deployment and scaleup and is positioning its solutions in landmark projects.

Because Daphne's technology can be applied to multiple fuel types, it has the potential to make a substantial impact across the energy system.

"We are proud to have attracted best-in-class strategic investors all committed to working together, with Daphne, for an economically sustainable energy transition," says Founder and CEO of Daphne Technology, Dr. Mario Michan. "The capital raise enables us to deploy our systems and expand our portfolio of emission reduction solutions. The transition to a more sustainable economy represents a historic investment opportunity," said Founder & CEO Dr. Mario Michan.

Daphné Technologies won Venture Kick in 2018, participated in Venture Leaders China in 2020, and was selected on the TOP 100 Swiss Startups Award four years in a row, from 2018 to 2021.

Source: Daphne Technologies Press Release