The chemical industry has long utilized traditional methods, such as the combustion of fossil fuels, to generate electricity. These methods pose significant environmental challenges, including high carbon emissions and extensive resource depletion.
The traditional methods are also often limited by energy conversion and distribution inefficiencies, leading to further demands on already strained natural resources.
Electrochemical conversion offers a compelling alternative, providing a cleaner and more efficient way to generate electricity. This method involves converting the chemical energy of materials directly into electrical energy through electrochemical reactions. It is seen in technologies like fuel cells or advanced batteries.
This process reduces emissions, as it often uses less harmful materials and can be more directly controlled to optimize efficiency.
The electrochemical conversion has higher efficiency rates, lower emissions, and the ability to integrate seamlessly with renewable energy sources. These systems can be scaled and adapted from small portable devices to large-scale energy generation.
This article explores five growth-stage startups focused on advancing electrochemical conversion technology. These startups have the potential to grow rapidly, are in a good market position, or can introduce game-changing technology to the market in the next 2-3 years.
This makes them a great option to partner, collaborate, or acquire.
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1. Seao2 Extracting CO2 from Oceans Using A DOC Technology
| Founding Year | 2022 |
| Headquarters | Delft, Netherlands |
| Total Funding Amount | $5.33K |
| Last Funding Round/Amount | $5.33K/Accelerator |
| Website | https://www.seao2.nl/ |
One-third of all CO2 emissions are absorbed by the oceans, increasing acidity levels and disrupting marine ecosystems. This excess CO2 has significantly altered the chemical balance of ocean waters, posing threats to biodiversity and exacerbating climate change.
Seao2 has developed an Electrochemical Direct Ocean Capture (DOC) technology. It utilizes renewable electricity and seawater to extract CO2 directly from the ocean surface and indirectly from the atmosphere.
This process changes the carbonate equilibrium of the dissolved carbon in water, allowing the extraction of CO2 in gas form. The extracted CO2 can then be permanently stored in geological formations or used in products like concrete.
At the same time, the decarbonized water is returned to the ocean to reabsorb atmospheric CO2, aiding in the fight against ocean acidification and climate change.
Seao2’s technology is distinct from other carbon capture and utilization (CCU) technologies as it is environmentally friendly and requires no added chemicals, high temperature, or pressure.
Co-founder and CEO Ruben Brands leads this startup with 14+ years of experience in startups and ventures. He has worked as a senior trader, business analyst, product head, Startup Acceleration Manager, Venture Builder, and many others.
Ruben holds a BBA from the Rotterdam School of Management, Erasmus University, and an LLM from the University of Amsterdam.
Seao2 has raised $5.33K from an Accelerator/incubator funding round.
2. Advanced Materials Scientia Creating Electrochemical Technologies for Renewable Energy & Waste Management
| Founding Year | 2020 |
| Headquarters | Bothell, Washington |
| Total Funding Amount | Undisclosed |
| Last Funding Round/Amount | Undisclosed |
| Website | https://www.advmatersci.com/ |
Advanced Materials Scientia LLC addresses critical environmental and energy challenges: enhancing the efficiency and cost-effectiveness of solar-thermal power systems. It also tackles wastewater pollution caused by heavy metals and reduces CO2 emissions that contribute to global warming.
Advanced Materials Scientia LLC has developed low-cost, durable heat-transfer particles for concentrating solar-thermal power systems integrated with thermal energy storage.
These particles are designed to be cost-effective, targeted at around 5 cents per kilogram, durable at high temperatures, and capable of withstanding up to 1,000 degrees Celsius.
The startup is also developing a composite material to remove heavy metals from wastewater efficiently.
In carbon capture and utilization, it devised a catalyst material that facilitates the conversion of CO2 into methanol. This material is operable in a non-thermal plasma reactor at ambient pressure and temperature.
Kyu H. is the startup CEO with a Ph.D. in Materials Science and engineering from the University of Utah and an MBA from Imperial College London.
Kyu has experience as a material engineer and Senior Research Scientist with companies like Nanoshell and HiFunda LLC.
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3. CERT Systems Using CO2 Electrolysis To Develop Carbon-Based Fuels And Chemicals
| Founding Year | 2019 |
| Headquarters | Ontario, Canada |
| Total Funding Amount | $1.4 Million |
| Last Funding Round/Amount | Seed/$1.4 Million |
| Website | https://co2cert.com/ |
Carbon emissions and climate change’s primary challenge is creating sustainable and economically viable methods for utilizing CO2, often considered a waste product.
CERT Systems has developed an electrochemical process called CO2 electrolysis that converts CO2 into carbon-based fuels and chemicals, such as ethanol and ethylene.
This process utilizes only water and electricity, making it environmentally friendly and energy-efficient. The technology is built on developing novel catalysts and electrode designs that allow for high selectivity and energy efficiency in the conversion process.
This system operates at room temperature and ambient pressure, does not produce chemical waste, and does not require harsh chemicals like traditional carbon capture and conversion technologies.
CERT’s technology avoids the energy-intensive purification processes typical of direct air capture methods. It converts CO2 into ethylene, a valuable precursor for plastics and sustainable aviation fuels applications.
Alexander Ip is leading this startup as Co-founder and CEO. He holds a Ph.D. in Electrical and Electronics Engineering from the University of Toronto and served as operations manager and Director of Research and Partnerships with the same university.
CERT Systems raised $1.4 Million in the latest seed funding on Feb 12, 2020, led by Breakthrough Energy Solutions Canada.
Read here: Top 5 Energy Storage Industry Trends in 2024
4. SeeO2 Energy Developed Dual-mode RSOFCs for Fuel and Power Generation from Gases
| Founding Year | 2018 |
| Headquarters | Calgary, Alberta, Canada |
| Total Funding Amount | $156.8K |
| Last Funding Round/Amount | Seed Round/CA$50K |
| Website | http://www.seeo2energy.com/ |
High global CO2 emissions are a critical environmental challenge and a major contributor to climate change. Rising greenhouse gas levels crossed the 32.5 gigatonnes mark in 2017, a 1.4% increase, setting a new historical record.
This problem underscores the urgent need for innovative solutions to reduce CO2 emissions and convert them into sustainable, clean energy sources.
SeeO2 Energy has developed a technology-centered around Reversible Solid Oxide Fuel Cells (RSOFCs) to solve this environmental challenge. This innovative technology operates in two modes: a Solid Oxide Electrolysis Cell (SOEC) and a Solid Oxide Fuel Cell (SOFC).
In SOEC mode, it uses power and heat to convert CO2 and/or water into valuable fuels like carbon monoxide (CO), syngas (a mixture of hydrogen (H2) and CO), and methane (CH4).
As a SOFC, it converts fuels like H2, CO, syngas, and CH4 into power and heat.
SeeO2’s technology uses a novel and stable electrocatalyst that can operate efficiently in both oxygen-rich and CO2/steam environments, reducing manufacturing complexity and costs while enhancing stability and performance.
Its high-temperature operation offers significant kinetic and thermodynamic benefits like faster reaction rates, more options for catalyst selection, and greater catalyst stability compared to lower-temperature processes.
Dr. Paul Addo is the co-founder and CEO of SeeO2 Energy. He has technical knowledge in energy and carbon dioxide conversion technologies with strong leadership and interpersonal skills.
Dr. Paul holds a Ph.D. in Chemistry from the University of Calgary and specializes in physical and electrochemistry, catalysis, and renewable energy systems.
SeeO2 Energy raised its latest seed funding of CA$50K from Sustainable Development Technology Canada on July 14, 2020. Techstars is the other leading investor backing this startup.
5. Air Company’s AIRMADE™ System Converting CO2 into Chemicals and Fuels
| Founding Year | 2016 |
| Headquarters | New York, United States |
| Total Funding Amount | $39.1 Million |
| Last Funding Round/Amount | Series A/$30.4 Million |
| Website | https://www.aircompany.com/ |
Reducing Excess CO2 released and greenhouse gas emissions is paramount in tackling climate change.
The climate crisis can be controlled by finding sustainable and scalable methods to mitigate these emissions and reduce reliance on fossil fuels.
To combat this issue, Air Company developed the AIRMADE™ System, a carbon conversion technology that transforms CO2 into carbon-negative chemicals and fuels.
This system captures CO2 emissions from industrial sources before they are released into the atmosphere. The captured CO2 is cooled, pressurized, and liquified for transport to Air company sites. Here, it is fed to the carbon conversion reactor along with green hydrogen (H2) produced on-site.
The patented and proprietary Carbon Conversion Reactor system converts captured CO2 and green Hydrogen (H2) into a reactor liquid.
This reactor fluid is composed of alcohol, alkanes, and water. Its components are separated using a proprietary distillation process into impurity-free, carbon-negative AIRMADE™ chemicals. These chemicals are used to create air company products like CO2-based sustainable products like AIRMADE™ SAF, AIR Eau de Parfum, AIR Vodka, and Air Hand Sanitizer.
The AIRMADE™ System can avoid 10.8% of global CO2 emissions—equivalent to over 4.6 billion tons of CO2 annually and shift the dependency from fossil fuel derivative products to CO2 products.
Gregory Constantine is the co-founder and CEO of this startup. He has experience with Diageo’s Global brand team and holds a BA degree from the University of Sydney. Gregory also participated in the executive education program at Harvard University.
In its latest Series A funding round, held on April 19, 2022, Air Company raised $30.4M.
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Authored by: Naveen Kumar, Market Research
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