Phlair, a Munich, Germany-based company developing hydrolyzer-based direct air capture (DAC) technology, raised €14M in Seed funding.
The round was led by Extantia Capital, with participation from Planet A and Verve Ventures and included a €2.5 M grant from the EIC accelerator. Existing investors Atlantic Labs, Counteract, and UnternehmerTUM Funding for Innovators also participated.
The company intends to use the funds to bring its direct air capture plants online in 2025.
Founded in 2022 by Malte Feucht, Paul Teufel, and Steffen Garbe, Phlair has developed novel DAC technology whose system employs a pH-swing mechanism powered solely by electricity for efficient CO₂ capture and release. The captured CO2 is used by partners for permanent storage or to manufacture CO2-negative chemicals. Building on existing and proven low-capex components from Polymer Electrolyte Membrane (PEM) fuel cells and water electrolysis, Phlair’s solution allows for rapid scalability with high durability. The system also includes a built-in energy storage mechanism, eliminating the need for additional expensive battery storage.
The company serves customers, such as Shopify, Stripe, Klarna, and Deep Sky, to deliver permanent carbon removal.
FinSMEs
19/09/2024