World’s biggest provider of green graphite
With the new funding, the company will build an industrial pilot reactor capable of processing 100 tons of CO2 annually and producing 27 tons of carbon materials, making UP Catalyst the world’s largest provider of green graphite. The new reactor will have a production capacity ten times larger than the current setup, marking an important milestone before the construction of a full-scale industrial reactor unit.
The strategic timing of this funding is critical, as it will help provide an alternative source of graphite supply amidst China’s export curbs while Europe grapples with a 99 per cent import reliance.
Advancing innovation by backing start-ups like UP Catalyst
EIT RawMaterial’s mission is to support start-ups like UP Catalyst in securing access to finance. UP Catalyst’s successful journey started by winning the EIT RawMaterials Jumpstarter programme in 2019, EIT RawMaterials then continued their support through the Acceleration programme and the KAVA upscaling consortium project, with a €1.8M budget for 2022-2023.
Since winning the EIT Jumpstarter programme in 2019 in the EIT RawMaterials cohort, UP Catalyst has become a company that redefines standards of environmental responsibility and showcases the incredible potential of European tech innovation. UP Catalyst is on course to become a keystone in the European battery industry, with plans to amplify its production capacity by ten times and the ambition to equip 4 million cars with green graphite batteries by 2030.
Source: EIT Raw Materials