PuriFire Energy Secures Investment for Green Methanol Production
Key Ideas
  • PuriFire Energy, a climate-based startup in Cambridge, UK, has closed a £2.7 million seed round investment led by HICO Investment Group to scale green methanol and sustainable fuel production.
  • The company aims to convert wet waste into green methanol using patented technology, significantly reducing the levelised cost of methanol production and offering a sustainable alternative for the shipping industry.
  • The investment aligns with a growing demand for green methanol in the market, with leading shipping companies investing in methanol-powered vessels to reduce emissions and promote environmental sustainability.
  • PuriFire's commitment to accelerating the transition to a low-carbon economy by providing sustainable fuel solutions highlights their goal of reducing greenhouse gas emissions and driving positive change for a greener future.
PuriFire Energy, a startup based in Cambridge, UK, has successfully secured a £2.7 million seed round investment led by HICO Investment Group, with participation from Bulnes Capital, R&R Investments, and Abhishek Desai. Founded by Dr. Matthew Pearce in 2019, PuriFire aims to commercialize hydrothermal treatment technologies to accelerate the transition to a low-carbon economy. The company plans to scale green hydrogen, biomethanol, and sustainable fuel production to be cost-competitive with fossil fuel alternatives. PuriFire will utilize the investment and a £525k grant from Innovate UK to set up a pilot project by mid-2025 to convert anaerobic digestion liquid digestate and other wet feedstocks into green methanol. This initiative aligns with the company's goal of providing sustainable fuel solutions without the need for expensive electrolysers or carbon capture systems. The positive sentiment towards PuriFire's technology is evident, with HICO Investment Group expressing excitement about the potential to convert wet waste into sustainable fuels like green methanol. This aligns with the increasing demand for green methanol in the shipping industry, as major companies have already placed orders for methanol-powered ships, emphasizing the market need for sustainable alternatives to fossil-based methanol. PuriFire's dedication to promoting a greener future is reflected in their commitment to minimizing environmental impact, reducing greenhouse gas emissions, and driving positive change. By leveraging their scientific and engineering expertise, PuriFire aims to create value for stakeholders while contributing to the global energy transition towards sustainability.
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