Extantia Capital
Assembly Line
Phlair raises €14.5 million to scale hydrolyzer-based DAC tech
Phlair (formerly Carbon Atlantis), a company developing a hydrolyzer-based Direct Air Capture (DAC) technology which enables scalable and low-cost CO2 capture from ambient air, raised a €14.5 million seed round.
The financing round is led by Extantia Capital, with participation from Planet A and Verve Ventures and includes a €2.5 million grant from the EIC accelerator. Existing investors Atlantic Labs, Counteract, and UnternehmerTUM Funding for Innovators also participated in the oversubscribed round. The funding will be used to bring its first-of-a-kind Direct Air Capture plants online in 2025, delivering to a roster of early customers such as Shopify, Stripe, Klarna, and Deep Sky.
UK-based WASE raises €9.9M to scale its waste-to-energy technology
Bristol-based WASE, a startup that aims to accelerate sustainable waste and energy innovation, announced that it has secured over £8.5M (approximately €9.91M) in funding, including £2.4M (approximately €2.79M) in non-dilutive support. Berlin-based climate-first VC firm Extantia Capital led the financing round, with participation from Hitachi Ventures, WEPA Ventures, the family VC firm of the European family business WEPA, and Engie New Ventures, the CVC arm of the global energy company Engie. This capital influx will facilitate WASE’s expansion efforts, enabling them to fulfil signed contracts, advance projects in their pipeline, and enhance their product range.
The company claims that its Electro-Methanogenic Reactor (EMR) technology stands out for its versatility and efficiency in converting biomass and organic matter into biogas. Operating within anaerobic digestion (AD) plants and wastewater treatment, WASE’s units boost biogas production, accelerating the process by up to 10 times and increasing output by 30 per cent. Moreover, they elevate the methane content of biogas to over 80 per cent, surpassing conventional AD systems where methane levels typically range from 50-60 per cent. WASE’s plug-and-play system integrates into existing infrastructure while occupying 50-70 per cent less space than conventional alternatives.