Cyclize, the ClimateTech startup from Stuttgart, is forging ahead with €4.75 million in startup capital to initiate a revolution in the chemical industry – the goal: To replace fossil resources using innovative carbon recycling of plastic waste and CO2.
The funding round is led by UVC Partners, with complementary investments from High-Tech Gründerfonds (HTGF), Aurum Impact, UnternehmerTUM Funding for Innovators, and high-profile business angels, including Dr. Klaus Schäfer, former CTO of Covestro, who will also join Cyclize’s Advisory Board.
Cyclize has already attracted significant interest from industry and politics. Since May 2022, the
spin-off from the University of Stuttgart has been supported by the EXIST Research Transfer
program of the Federal Ministry for Economic Affairs and Climate Action (BMWK). With the capital
raised in the seed round, the company elevates its implementation to the next level.
Next, Cyclize will focus on scaling the technology and its application on an industrial scale with an expanded team. Also, test series with pilot customers who need synthesis gas or want to recycle complex waste streams are already planned. Thus, the young company actively advances technological
development towards commercialization. Next milestone: Construction and operation of the first
waste-to-synthesis gas plant of its kind in a chemical park to demonstrate applicability in the
industrial environment.
Source: https://www.chemeurope.com/en/news/1182795/climatetech-startup-cyclize-breaks-conventional-
boundaries-and-reinvents-the-chemical-industry.html
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