Cyclize
Replacing fossil feedstock using plastic waste and CO2 to defossilize industry and enable a circular economy of carbon
Replacing fossil feedstock using plastic waste and CO2 to defossilize industry and enable a circular economy of carbon
Cyclize, a spin-off of the University of Stuttgart, aims to revolutionize the chemical industry by utilizing mixed plastic waste and CO2 to produce syngas, effectively replacing traditional fossil feedstock. This innovative process, based on plasma technology, serves as the foundation for a wide range of advanced chemicals, plastics, methanol, hydrogen, and e-fuels. By doing so, Cyclize not only contributes to the circular economy of carbon but also mitigates the emission of hundreds of megatons of CO2 annually by 2050. The company, established in 2023 and headquartered in Germany, recently secured a significant milestone with a €4.75M Seed Round investment on 21 February 2024. The investment was led by prominent firms including UVC Partners, Unternehmertum, Aurum Impact, and HTGF | High-Tech Gruenderfonds, as well as Klaus Schafer. This backing not only highlights the industry's confidence in Cyclize's potential but also provides the necessary support to drive its innovative technology forward.
| Funding Stage | Amount | No. Investors | Investors | Date |
|---|---|---|---|---|
| Seed Round | €4.75M | 5 |
|
21 Feb 2024 |
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