German greentech startup autarkize, which converts organic waste into high-energy gas and biochar to reduce greenhouse gas emissions, has raised €2.3 million in seed funding. High-Tech Gründerfonds (HTGF) is a lead investor.
- Founded in 2022 by Michel Konder and Sophie Peter, autarkize has developed technology that converts organic waste, such as wood scraps and fermentation residues, into renewable gas and certified biochar.
- Renewable gas can replace fossil fuels in industrial processes, while biochar serves as a CO2 storage solution for agriculture and construction. Each plant can sequester 1,400 to 5,500 tons of CO2 annually and generate up to 10 GWh of renewable energy.
- Autarkize’s modular systems are housed in shipping containers with outputs of up to 2.5 megawatts, allowing easy integration into existing biogas plants and industrial processes. This approach offers an effective solution for decarbonizing heating networks, especially in municipal and regional district systems.
Details of the deal
- The seed round was led by HTGF, a German venture capital firm that invests in tech startups and manages assets worth €1.4 billion.
"We see enormous potential in the use of previously unused waste streams and biomass, which are converted into high-quality synthesis gas and biochar thanks to the innovative pyrolysis technology. This solution not only creates climate-neutral energy, but also makes a significant contribution to reducing CO2 emissions," Investment Manager at HTGF, Maximilian Scholz, commented.
- The investment also included participation from Dutch investment management firm Fair Capital Impact Fund, Interface Capital, a VC that supports tech founders, Stuttgart-based VC Innovation for Impact, and Munich-based Floris Capital, along with business angels Lucas von Fürstenberg and Ulrich Blessing.
- autarkize plans to use the funds to expand its biogas technology and heat and steam generation, aiming to decarbonize industrial processes and create large-scale CO2 sinks for global climate protection.
"Thanks to the financing, we can bring our systems to market on a large scale, offer our customers real added value and at the same time make an important contribution to climate protection. autarkize is excellently positioned to play a leading role in the energy transition," claims Michel Konder, CEO of autarkize.
