Cyclize, a Stuttgart-based climate-tech startup, has announced a fresh funding round of €4.75M led by UVC Partners. The round also saw participation from High-Tech Gründerfonds (HTGF), Aurum Impact, UnternehmerTUM Funding for Innovators, and high-profile business angels like Dr. Klaus Schäfer, former CTO of Covestro, who will join Cyclize’s Advisory Board.
Cyclize is on a mission to defossilize the chemical industry by using mixed plastic waste and CO2 as raw materials to produce synthesis gas (syngas), a crucial component for manufacturing advanced chemicals, plastics, methanol, hydrogen, and e-fuels. Traditionally sourced from natural gas, Cyclize’s innovative plasma-based process offers a sustainable alternative, aiming to establish a circular carbon economy and significantly reduce CO2 emissions.
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Advancing Towards Commercialization
The investment will enable Cyclize to expand its team and scale its technology for industrial use, with plans to test syngas production and waste recycling with pilot customers. The company aims to commercialize and construct a waste-to-syngas plant in a chemical park, marking a significant step towards revolutionizing the chemical industry.
A Low-Threshold Transformation for the Chemical Industry
Cyclize’s patented process, Cyclize Plasma, presents a transformative solution for the chemical industry, enabling companies to remain competitive amidst rising energy costs in Europe. By turning plastic waste into a valuable raw material, the company facilitates a low-threshold transformation in the chemical industry, allowing existing process plants to continue operation and maintain low production costs.
Attracting Industry and Political Interest
Since its support by the EXIST Research Transfer program of the Federal Ministry for Economic Affairs and Climate Action (BMWK) in May 2022, Cyclize has garnered significant interest from both industry and political spheres. The startup’s approach to synthesizing gas from waste materials not only addresses environmental concerns but also offers a viable solution for the chemical industry’s sustainability challenges.
With this funding, the startup is well-positioned to lead the way in defossilizing the chemical industry, contributing to a more sustainable and efficient future.
