GTT Strategic Ventures, the GTT Group investment fund dedicated to supporting sustainable tech champions, announces that it has participated in a 4 million € financing round to support the development of CryoCollect, a French engineering company specialized in gas handling technologies, according to GTT's release. This investment was made alongside Engie New Ventures, Engie’s investment fund for innovative start-ups which help accelerate the energy transition. The new investors join the founder and historic shareholders of CryoCollect.
Since its creation in 2017, CryoCollect has specialized in the design and engineering of gas treatment, liquefaction and separation technologies for gases such as bio-methane, carbon dioxide and hydrogen. CryoCollect has built 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 and liquefaction of carbon dioxide contained in exhaust gases from anaerobic digestion (biogas), enabling the production of liquid biogenic CO2. Such biogenic CO2, which is part of the natural short carbon cycle, can replace fossil CO2 in industrial processes which require CO2 as a feedstock, such as the food & beverage industry or the production of synthetic fuels. With more than a dozen references already marketed, CryoCollect’s CO2 capture technology for biogas is, by far, the technology with the largest number of actual deployments.
CryoCollect applies its know-how in gas processing and liquefaction in other areas to accelerate the energy transition, notably industrial and CO2 capture on-board vessels, re-liquefaction of CH4 boil-off, BioLNG liquefaction to transport bio-methane, as well as its’ use as a sustainable fuel.
CryoCollect is a French startup that is engaged in the design engineering and construction of gas treatment, liquefaction and separation processes for the transporting, storing of liquefied gas.
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.