Estonian cleantech UP Catalyst Secures €18M in financing from EIB
Summary
Estonian cleantech company UP Catalyst has secured an 18 million loan from the European Investment Bank (EIB). The financing will be instrumental in scaling up the companys innovative molten salt electrolysis technology for the production of high-performance carbon materials. UP Catalyst, founded in 2019 by Gary Urb and K\xe4tlin Kaare, has developed a groundbreaking method to produce graphite from captured carbon dioxide (CO) emissions. The companys graphite has already demonstrated quality comparable to fossil-based alternatives, offering a more sustainable and environmentally friendly solution for various industries. Apart from obvious environmental benefits, the solution also helps tackle the issue of graphite supply gap in EUs energy production.The 18 million loan financing was provided by the European Investment Bank.