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COLIPI Receives EUR 1.8 Million Seed Funding

đź“… Date:

đź”– Topics: Funding Event

🏢 Organizations: COLIPI, HTGF, Technical University of Hamburg

The conclusion of the Seed funding round marks a significant success for the Hamburg-based deep-tech startup COLIPI GmbH as it embarks on the year 2024. Investors include the High-Tech Gründerfonds (HTGF), the Innovationsstarter Fonds Hamburg (IFH), Nidobirds Ventures GmbH, and Stefan De Loecker. With this, COLIPI moves a significant step closer to its vision of “Fermenting Renewable Carbon For Generational Life Quality”.

The start-up founded in 2022, a spin-off from the Technical University of Hamburg, supported by the EXIST Research Transfer Program (German Federal Ministry of Economic Affairs and Climate Action) and the InnoRampUp Program (IFB Innovationsstarter GmbH), is revolutionizing the way oil is produced. COLIPI is, in a sense, a brewery for oils. Carbon is sourced or filtered from the air rather than pumped from the ground. CO2-containing industrial emissions and organic by-products, for example, from the agricultural industry, are converted by microorganisms through fermentations into valuable biomaterials like Climate Oil. The oil is more sustainable than crude oil and palm oil, considering the CO2 footprint and its impact on biodiversity. It is enabled by a patented bioprocess, a combination of a specially designed gas fermentation bioreactor and the world’s fastest CO2-consuming bacteria. Industrial partners offering products such as cosmetics based on Climate Oil will be able to significantly reduce their corporate CO2 footprint. The founders, Philipp Arbeiter, Tyll Utesch, Jonas Heuer, and Maximilian Webers, aim to produce many millions of tons of Climate Oil annually by 2039, avoiding multiples of that amount in CO2 emissions. This will be an active contribution to climate protection and, consequently, humanity’s well-being. The recently completed Seed financing is another milestone for the young company. The capital will be utilized to expand the team, test the market with products manufactured by partners, and scale the technology.

Read more at COLIPI News