Hydrogen startup C-Zero has raised $5 million of an $18 million funding spherical, based on an SEC submitting.
The corporate is growing a strategy to strip hydrogen from methane with out emitting carbon dioxide. The ensuing hydrogen can be utilized in a variety of industries right this moment, together with ammonia and petrochemical manufacturing, and probably others within the close to future, together with transportation and metal manufacturing. The strong carbon waste product has the potential to be reused in every thing from asphalt to lithium-ion batteries.
C-Zero raised a $34 million spherical valued at $124 million post-money in 2022, based on PitchBook information. The smaller goal for the brand new spherical suggests the corporate is being reasonable about its prospects following its sizable haul through the pandemic.
The corporate didn’t instantly reply to a request for remark.
The method C-Zero employs is named methane pyrolysis. C-Zero’s reactor heats pure gasoline within the presence of a proprietary catalyst to interrupt hydrogen’s chemical bond with the central carbon atom in a methane molecule.
Through the use of available pure gasoline because the feedstock, C-Zero hopes to provide emission-free hydrogen for lower than different inexperienced hydrogen startups, which generally depend on costly electrolyzers powered by low-cost renewable vitality from wind and photo voltaic.
Tapping into present pure gasoline infrastructure additionally makes methane pyrolysis a pure match for petrochemical crops, which right this moment use pure gasoline all through their operations and in addition require massive quantities of hydrogen to provide varied chemical substances.
The potential to promote low-cost, zero-emission hydrogen to massive, established clients has brought about a flurry of startup exercise within the area, a lot of which use methane pyrolysis. A lot of competing startups, together with Fashionable Hydrogen, Molten Industries and ReCarbon, additionally use the method.
