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Electrochaea ́s bioreactor at a pilot plant in Denmark ©Electrochaea
With the funding provided, Electrochaea has been able to scale up its biomethanation technology to industrial
scale with an archetype design of 10 MWe.
MUNICH, GERMANY, August 26, 2024 /EINPresswire / -- After three years, Electrochaea, a leading power-to-gas company, has successfully completed the EIC Accelerator program, which is co-funded by the European Innovation Council (EIC) and supports innovative companies in bringing their products and services to market. In 2021, more than 2,000 European companies applied for funding. Electrochaea has been one of only 64 start-ups and SMEs selected based on their impressive projects.
The company has developed a technology to produce synthetic methane. As an energy source, synthetic methane is virtually CO2-neutral, can replace fossil natural gas and can be stored and transported in the existing gas grid. To produce it, Electrochaea uses archaea, billion-year-old microorganisms, that convert green hydrogen and recycled CO2 into synthetic methane in bioreactors.
With the funding provided, a grant of €2.485 million and an equity investment of €14.975 million, Electrochaea has been able to scale up its biomethanation technology to industrial scale with an archetype design of 10 MWe. The implementation will take place directly within the BioCat-Roslev project in Denmark. There, the new archetype design will be integrated into the existing operation of a biogas upgrading and grid-injection plant. The Danish Energy Agency also subsidized the project with €9.5 million to expand hydrogen production.
With funding from the EIC Accelerator program, Electrochaea has been able to optimize the plant design making it more efficient and cost-effective. Customers will benefit from significantly reduced CAPEX and OPEX of the biomethanation technology. During the funding period, Electrochaea also made significant overall progress in the approval process, technology integration and business model optimization for the BioCat Roslev project.
“The EIC Accelerator program has been a fantastic opportunity for Electrochaea to scale up our technology to a commercially relevant size and to develop the BioCat Roslev project based on a new and more efficient design,” said Dr Doris Hafenbradl, CTO and Managing Director of Electrochaea.“In addition to other benefits such as networking and investor events, we benefit most from the EIC Fund's long-term investment in Electrochaea. Our participation in the EIC Accelerator and the progress we have made through this funding demonstrates Electrochaea's strong ability to develop innovative and sustainable solutions for the energy sector.”
With the completion of the program, Electrochaea is well positioned to commercialize its technology and significantly advance the much-needed production of renewable methane.
About Electrochaea: Electrochaea provides technology to produce synthetic methane, a renewable fuel that replaces fossil natural gas and can be stored and transported in the existing gas grid. Electrochaea's patented process helps combat climate change by using CO2 to generate a renewable energy source and provides a solution for long-term storage of intermittent renewable energy. Industrial-scale pilot plants have already been commissioned in the U.S., Switzerland, and Denmark. Electrochaea is headquartered in Munich, Germany, with offices in Denmark and the United States. Electrochaea is one of the Global Cleantech 100 List companies. Visit us at .
Maria Beschid
...
Electrochaea
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