Cool Planet Signs Licensing Deals With Hereon For Membrane Carbon Capture Tech

Aug 02, 2023
Cool Planet Technologies

London-based Cool Planet Technologies (CPT) has signed a series of licensing agreements with German Helmholtz-Zentrum Hereon, under which CPT will have exclusive worldwide commercialization rights for Hereon’s latest generation PolyActive™ membrane and their carbon capture technology.

Additionally, the companies have filed a patent application for the jointly developed intellectual property (IP), CPT said in statement Monday.

According to the statement, the partners’ membrane technology lowers the cost of capturing carbon dioxide (CO2) in hard-to-abate sectors, for example cement, lime, steel, energy from waste and coal-fired power generation, by significantly reducing the energy required.

CPT and Hereon will continue to collaborate on the development of the technology, any future development by one or both of the partners being covered by the current agreements.

CPT plans to demonstrate the technology on a large scale near Hanover, in northern Germany, where it is building a carbon capture facility with a capacity of 10,000 tons per year (tpy) at the Höver cement plant of building material company Holcim.

Following a successful first round in 2022, CPT’s second round of Series A financing is well under way with secured investments from ENI next, the corporate venture capital arm of Italian oil and gas major Eni (BIT: ENI), Audacy Ventures and Neva SGR.

The proceeds from the second round of financing will be directed towards demonstration and commercialization of the company’s membrane technology.

“The CPT and Hereon teams work very effectively together, and we have already seen the rapid results of combining CPT’s industrial experience with Hereon’s R&D capability,” Andrew Corner, Managing Director at the London-based company, said in a comment to the agreements formalizing the existing relationship between the partners.

The companies’ membrane technology has undergone successful pilot studies in the energy industry and is ready for the next step towards decarbonizing industry, Torsten Brinkmann, Head of Department of Process Engineering of Hereon’s Institute of Membrane Research, added.