£2.7 million for pioneering green methanol and sustainable fuels
PuriFire Energy, formed in Cambridge Cohort 1 of our Venture Builder Programme, have secured a £2.7 million seed round led by HICO Investment Group, with participation from R&R Investments, Bulnes Capital and Desai Ventures.
In the current market, about 99.3% of methanol produced comes from fossil-based sources, with only 0.7% being renewable or green. Green methanol can reduce CO2 emissions by 60-95%, reduce nitrogen oxide emissions by 60-80% and almost eliminate sulphur oxide and particular matter emissions. Alongside this, green methanol can be blended with traditional gasoline or diesel fuel, offering a seamless transition for shipping owners and minimising the need for infrastructure upgrades.
PuriFire’s Co-founder and CEO Neel Shah says: The investment will enable PuriFire to advance its transformative technology for sustainable fuel production. PuriFire’s innovative approach streamlines the production of green hydrogen and biogenic carbon dioxide, generated in situ from wastewater and wet carbon feedstocks for the conversion of green methanol and other sustainable fuels.