UP Catalyst Raises €4M in Funding
Summary
UP Catalyst, a Tallinn, Estonia-based company which specializes in sustainable carbon material production, raised €4M in funding. The round was led by Extantia and supported by Estonia’s state fund SmartCap, along with participation from existing investors Sunly, Little Green Fund, Scottish Baltic Invest and UniTartu Ventures. Led by CEO Gary Urb, UP Catalyst is a nanotechnology company that specializes in the production of sustainable carbon nanomaterials and graphite utilizing CO through electrolysis. The company intends to use the funds to scale up their local production of carbon materials and graphite derived from CO emissions, offering a sustainable alternative source of raw materials to European battery manufacturers. In the past years, the company secured over €6M in grants and has expanded its customer base beyond Europe.