Paris, May 21, 2024 – ENGIE New Ventures, ENGIE’s Research and Innovation investment fund for innovative startups that accelerate the energy transition, announces that it has participated – together with GTT Strategic Ventures – in a €4m financing round to support the development of CryoCollect, a French startup that develops technologies for gas treatment, purification & liquefaction, especially well suited for biogas CO2 capture.
Since its inception in 2017, CryoCollect has specialized in the design and engineering of gas treatment, liquefaction and separation technologies (for gases such as biomethane, carbon dioxide or hydrogen), leveraging a multidisciplinary team of engineers and researchers, combining high-level scientific expertise with robust industrial know-how.
The company has especially pioneered the capture, purification & liquefaction of carbon dioxide contained in the off gas derived from anaerobic digestion (biogas), enabling the production of liquid biogenic CO2. Such pure biogenic CO2, which is part of the natural short carbon lifecycle, can displace fossil CO2 in industrial processes that require CO2 as an input such as the Food & Beverage industry or to produce synthetic fuels. With more than a dozen of commercial references, CryoCollect’s CO2 capture technology for biogas counts, by far, the largest number of deployments.
CryoCollect applies its know-how in gas treatment & liquefaction in other areas to accelerate the energy transition: industrial as well as onboard CO2 capture, re-liquefaction of CH4 boil-off, BioLNG liquefaction to transport biomethane and use it as a sustainable fuel…
“ At ENGIE, we are strongly committed to accelerating the development of renewable and low carbon methane, which is key resource to support the transition towards a circular and net zero carbon economy. CryoCollect’s CO2 capture technology is particularly energy efficient and enables zero emission from our anaerobic digesters. This is the new standard of the biogas industry and an opportunity for ENGIE to further support the decarbonization of the industry by valorizing a biogenic CO2 which displaces fossil CO2”, stated Camille Bonenfant-Jeanneney, Managing Director of ENGIE Renewable Gases Europe.
“We’re delighted to add CryoCollect to our portfolio of investments, being the 3rd one around biomethane (after WASE announced a few weeks ago, and TREATECH in June 2023) and the first one on the value chain of carbon management. Recycling CO2 natural resources is due to play a key role in the energy transition”, added Johann Boukhors, Managing Director of ENGIE New Ventures.
Haytham Sayah, CEO and co-founder – alongside from Philippe Khairallah – of CryoCollect added: “At CryoCollect, we are passionate about innovation. Since our inception in 2017, we have been committed to developing cutting-edge technologies in the field of energy, focusing on purification, liquefaction, and the valorization of natural resources to reduce environmental impacts. ENGIE and GTT are natural partners for us and we are delighted to welcome them on board. Besides being strongly committed to accelerating the energy transition, ENGIE embraces a large array of activities (in biogas production, bioLNG, energy efficiency in the industry, etc.) that have a great fit with our portfolio of technologies.”
About ENGIE New Ventures
ENGIE New Ventures (ENV) is ENGIE’s Research & Innovation investment fund dedicated to innovative start-ups in the field of climate technology. ENV makes minority investments in innovative start-ups that bring strategic value to the Group, with a specific focus on future disruptive technologies. Since 2014, it has invested in over 50 solutions in the cleantech sector, mainly involving renewable energy, energy efficiency and flexibility solutions, and green gases including hydrogen. ENV is represented in Paris, San Francisco and Tel Aviv.
ENGIE Group press contact: Tel.: +33 (0)1 44 22 24 35 – engiepress@engie.com
About CryoCollect
CryoCollect is a French startup that is engaged in the design and engineering of gas treatment, liquefaction and separation processes for the transporting, storing of liquefied gas (methane, carbon dioxide, hydrogen, natural gas, propane…): www.cryocollect.com
About GTT
GTT is a technology and engineering group with expertise in the design and development of cryogenic membrane containment systems for use in the transport and storage of liquefied gases. As part of its commitment to building a sustainable world, GTT develops new solutions designed to support ship-owners and energy providers in their journey towards a decarbonised future. GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835 Euronext Paris: GTT) and is notably included in SBF 120, Stoxx Europe 600 and MSCI Small Cap indices.
GTT Strategic Ventures is the investment fund created by the GTT Group in 2023, dedicated to investing in Climate Tech champions.
