Berlin-based CleanTech startup C1 Green Chemicals AG has secured €20 million in fresh capital to bring its innovative green methanol catalysis technology to market.

Of the total capital raised, €15 million come from a capital increase involving investors, led by denkapparat, the family office of think-cell founders Markus Hannebauer and Arno Schödl. Planet A Ventures, Maersk Growth, SquareOne, Prof. Wolfgang Reitzle (former CEO of Linde) and Jim Hagemann Snabe (Chairman of Siemens) also took part in the funding round. The remaining €5 million come from approved research grants.

“Two ingredients are crucial for the successful commercialisation of scientific innovation: talent and capital. We are delighted that we at C1 have excellent access to both ingredients”, comments Christian Vollmann, CEO of C1 Green Chemicals AG.

According to C1, the market for green methanol is expected to grow to approximately €183 billion per year by 2050. The resulting CO2 saving potential of green methanol is several gigatons per year (several percentage points of current global CO2 emissions).

Green methanol can be used to defossilise three key industries: shipping, aviation and carbon-based chemical production.