Paris-based Spark Cleantech has raised €30 million in Series A financing, of which €17 million is equity. The round was led by 360 Capital and Taranis, with the Île-de-France Reindustrialisation Fund and Asterion Ventures also taking part.
- Founded in 2022 by Erwan Pannier and Patrick Peters, Spark Cleantech develops methane plasmolysis technology designed to decarbonize high-temperature industrial processes.
- The company’s system sits between an industrial site’s natural-gas network and its burners, where it applies pulsed plasma to split methane into hydrogen and solid carbon before the gas is combusted.
- By removing carbon upstream, the process prevents CO₂ emissions that would normally result from burning methane. The hydrogen produced can be used directly on-site as a clean heat source, while the solid carbon becomes a nanomaterial used in sectors such as polymers, batteries, and rubber manufacturing.
- This approach allows heavy-industry operators to replace fossil-derived heat with low-carbon hydrogen without major changes to existing equipment, while generating a secondary material that can be sold or reused in other industrial supply chains.
Details of the deal
- Spark Cleantech plans to use the fresh funding to accelerate its scale-up by completing and operating its first production module, preparing for commercial deployment across client sites, advancing the qualification of its first commercial carbon grades, and expanding its team with around 20 new roles in commercial operations, engineering, and R&D.
“Following our seed round in the summer of 2023, we succeeded in deploying a first industrial pilot in under a year. We have validated clear market traction and assembled a world-class international team. This funding will enable the scale-up that industrial players are seeking to reduce their carbon footprint cost-effectively and to accelerate commercial deployment,” explains Patrick Peters, Co-Founder of Spark Cleantech.
