Electrochaea is receiving an EU grant of 2.5 million Euro and equity investment of up to 15 million Euro from the European Innovation Council (EIC).
This funding confirms that Electrochaea’s market-ready innovations make an important contribution to the goals of the European Green Deal and the UN agenda for sustainable development. Electrochaea specializes in biological methanation, microorganisms in bioreactors convert CO2 and hydrogen into biomethane. Electricity from renewable energy sources used for this process can be stored as “green gas” at low cost and in the long term.
The EU funds will be used for the so-called scale-up, the development of the technology from existing pilot plants to commercially scaled plants. With the equity investment, Electrochaea will construct a fully operational 10 to 20 MW plant.