CRI Closes USD30M Financing Round

▤ Summary

The round was led by Equinor Ventures Gildi, with participation from Sjóvá and Lífeyrissjóður Vestmannaeyja. The company intends to use the funds to expand operations and its business reach. Led by Björk Kristjánsdóttir, CEO, CRI offers process technology to produce methanol from carbon dioxide. It enables its customers to produce methanol in an environmentally friendly way from carbon dioxide and hydrogen, which can be used as fuel and in chemical products. The company’s technology, which was developed and proven in Iceland, has since been implemented in the largest factory of its kind in the world.

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