- Daphne Technology, a Swiss climate tech startup addressing the Greenhouse Gas (GHG) challenge, continues to attract world leaders of the global economy.
- Investors in this round include Shell Ventures, Trafigura, AET, and Saudi Aramco Energy Ventures, all committed to limiting global warming.
- The ability to capture emissions from hydrocarbon maritime fuels and meaningfully reduce emissions in the short term is a critical component of the industry’s transition to net zero emissions, in which multiple fuels and multiple abatement solutions will be required.
Daphne Technology, a Swiss climate tech business tackling the Greenhouse Gas (GHG) problem, continues to attract worldwide economic heavyweights. Shell Ventures, Trafigura, AET, and Saudi Aramco Energy Ventures are among the investors in this round, all of which are committed to minimising global warming as reported by Trafigura.
A Circular Economy
Daphne uses cutting-edge technology to eliminate harmful and greenhouse gas emissions such as nitrogen oxides, methane, and carbon dioxide from any fuel source, including oil, LNG, biofuels, ammonia, and hydrogen, from the combustion gas.
The plug-and-play solution breaks down pollutants, transforming them into non-hazardous by-products that are either discharged into the environment or converted into useful items.
As a result, Daphne helps to create a circular economy and reduce GHG emissions significantly.
Why does it Matter?
The global economy is being radically reshaped by the move to renewable energy sources. In the maritime and hard-to-decarbonize sectors, Daphne Technology will aid the transition to net-zero.
- To satisfy the Paris Agreement targets and International Maritime Organization (IMO) requirements, a significant reduction in GHG emissions is required.
- Daphne Technology’s mission is to convert hazardous and greenhouse gas (GHG) pollutants including nitrogen oxides, methane, and carbon dioxide into recycled and valuable goods on land and at sea.
- The company is currently exploring the commercial implementation and scaling up, as well as putting its solutions in significant projects.
- Daphne’s technique has the potential to have a significant impact on the energy system because it can be applied to a variety of fuel sources.
Deal Details
Shell Ventures led the CHF 10 million capital raise along with Trafigura.
AET, and all previous investors co-invested, including Saudi Aramco Energy Ventures and the Innovation Fund.
“The transition to a more sustainable economy represents a historic investment opportunity.”
All new shareholders are joining Daphne with the common goal of accelerating the company’s technology deployment and maximising its impact.
Peter van Giessel, Investment Director, Shell Ventures, commented: “We are very pleased to support Daphne in their mission to create a more sustainable energy future.
This investment fits well with our strategy to invest in and develop technologies and business models that will be required for the transition to net zero.”
Looking for Technologies
“AET is very pleased to be one of Daphne Technology’s strategic investors and support the development and deployment of technology to transition the maritime sector to net-zero.
This investment marks our entry into R&D for GHG abatement technologies aligned with our ongoing decarbonisation initiative and is made alongside other leading like-minded energy players and strategic partners.”
As a believer in LNG as a longer-term solution in maritime decarbonisation, we have been looking for technologies to reduce the methane slip and improve the “tank to wake” decarbonisation environment.
“Therefore, aside from being an investor, we will also deploy and test the technology across our vessels which utilise LNG as a fuel source.”
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Source: Trafigura
