GTT Backs Energo’s Solution For Production Of Low-Carbon Fuels

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GTT Strategic Ventures, the investment fund of French GTT Group, has participated in a €16.5 million financing round to support the development of Energo, the French start-up that developed a technology based on the plasma catalysis process, which enables the production of renewable energies such as green hydrogen, biofuels or methane from CO2, biogas, and ammonia.

French start-up 

The French start-up Energo was created in 2018 following academic research at Chimie Paris Tech to develop a technology for producing synthetic molecules using plasma catalysis.

According to Energo, the technology is energy-efficient, competitive, and adaptable to all energy sources. Its fields of application include the recovery of CO2 by methanation, the dissociation of ammonia to produce hydrogen, or the dry reforming of methane to produce hydrogen or organic liquids (methanol, acetone, etc.).

Investment

Commenting on the investment, Philippe Berterottière, Chairman and CEO of GTT, said Energo’s solutions have the potential to contribute to the decarbonization of maritime transport through the production of low-carbon fuels, as well as to the emergence of the hydrogen sector.

Vincent Piepiora, CEO of Energo, added: “We are delighted to have finalized this financing round with leading investors in the field of sustainable and responsible investment. This financing will enable us to maintain our technological lead by investing heavily in our R&D and our equipment and energy production facilities. This collaboration will support our expansion, strengthen our market position, boost our innovation and consolidate our ESG approach.”

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Source: Offshore energy