Fundraising: In Q4 2024 we closed a €2.3m investment round led by Nucleus Capital and accompanied by Zero Carbon Capital, IBB Ventures (the deep-tech and climate-tech investment arm of Investment Bank Berlin), Chemovator, Voyagers.io, and 1.5° Ventures.
Tech development: We successfully completed the second phase of our SPRIND funded lab-scale project for the development of our breakthrough syngas conversion technology, achieving an impressive CO2-to-CO conversion of over 95%.
Pilot plant development: The development of our syngas pilot plant is progressing quickly. We’ve found an experienced partner for building the process and a perfect operation location in Berlin.
Recognitions: Spark has been recognized as one of the Berlin Social Enterprise Prize 2024 winners in the category planet. This prestigious award celebrates innovative companies that positively impact society and the environment and is supported by Social Economy Berlin and Senatsverwaltung für Wirtschaft, Energie und Betriebe.
Q4 2024 investment round: We are thrilled to announce our €2.3m equity investment round led by amazing climate tech and deep tech investors. Find out more here.
Use of funds: The funds will be used to accelerate our technology towards commercialization. We will be able to build a fully functioning pilot plant and show the scalability of our process. These essential learnings, we will build a further scaled industrial demo plant — the final step before reaching a fully commercial plant.
See us shine in our fancy new founder’s photo below ;)
Syngas lab project: In our lab project, which is supported by funding from SPRIND, we are rapidly advancing. Even while performing long-term stability tests, the conversion of CO2 to CO remains equally high at over 95%. In addition, we are already performing tests for the scale up of our catalyst material as preparation for the pilot plant and later commercial use.
Pilot plant project: We made big strides with the pre-engineering of our syngas pilot plant and already selected a partner for building the process. In addition, we were successful with finding a suitable location in Berlin and are positive to quickly advance with the basic engineering and ordering of components.
FT lab project: In parallel to the RWGS project stream, we successfully scheduled a development project for our load-flexible Fischer-Tropsch (FT) reactor together with an academic partner. The project is planned to start in Q2 2025 and will directly inform our subsequent pilot reactor tests.
FT catalyst provider: We further deepened the collaboration with a leading FT-catalyst provider starting a first joint development project. Following this project we are already discussing a long-term collaboration.
Project finance: We continue networking with the project finance community to get value input for future scaleup. In this context, we were excited to speak at events from Deutsche Industriebank (Berlin) and Impact Forum Aviation Leasing (London).
Biz Dev: To generate valuable business contacts, we pitched at Sustainable Aero Labs Festival (Amsterdam), and participated in Chile Green Hydrogen Day (Berlin), Green Fuels Import Conference (Berlin), and Deutscher Zukunftspreis (Berlin).
Recognitions: Next to all our progress on the tech and business side, we even managed to gain lots of recognition in the past few months:
We were recognized as one of the Berlin Social Enterprise Prize 2024 winners
We won the Shenzhen's Innovation & Entrepreneurship Competition
We got nominated for Innovationspreis Berlin Brandenburg 2024
Politics roundtable: Ever wanted to meet a Federal Minister of Finance? Julia just had the chance and enjoyed discussing FOAK financing with Germany’s current Minister of Finance, Jörg Kukies, at a roundtable organized by Tech for Net Zero.
Chile visit: Chile is seen as on of the best locations for e-fuel production, and always worth a visit… Our co-founder Arno had the chance to travel to Punta Arenas in the very South of Chile to visit HIF’s impressive off-grid demo project “Haru Oni” and represent Spark at the KIT E-Fuel Summer School.
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