CO₂ Value Europe member eChemicles is scaling up its CO₂ electrolysis technology and is ready for the next step: commercial deployment, scaling up and equity investment.

eChemicles’ technology converts captured industrial CO₂ into carbon monoxide using electricity. This product is an essential building block for chemicals, syntethic duels and advanced materials, which are typical produced from fossil resources.

Its innovative efforts have not gone unnoticed in Europe. Earlier this year, the company was awarded a European Innovation Council (EIC) Accelerator grant, combined with a planned equity investment from the EIC Fund, managed by the European Investment Bank (EIB). The grant supports the company’s Scale_eChemicles innovation and productisation project, while the EIC Fund investment is intended to support commercial deployment and scaling alongside private investors.

Recently, Michiel Scheffer, President of the EIC Board, and Dr Péter Horváth, State Secretary for Science Policy and Innovation, visited eChemicles’ headquarters in Szeged, Hungary, for a facility tour and a demonstration of the company’s low-temperature CO₂ electrolysis technology.

Scheffer highlighted that the company is developing a way to produce an important chemical feedstock on site. This can help reduce dependence on fossil feedstocks while strengthening European technology, competitiveness and resource security. On this regard, Dr. Péter Horváth added that the Ministry of Science and Technology places a high priority on strengthening European partnerships and supporting the successful participation of Hungarian small and medium-sized enterprises (SMEs), like eChemicles, in European funding and innovation initiatives. To advance this objective, a constructive dialogue is already underway between the European Union and the Ministry.

Read the full press release here