(Yicai) Feb. 7 -- Feynman Dynamics said it has secured more than CNY100 million (USD14.1 million) in a pre-A financing round which will go to raise the Chinese startup’s large-scale production capacity of accessories, parts, and materials used in carbon capture and conversion.
The fundraiser was led by Tianjin Venture Capital, which invests in the information technology, new energy, and biomedical sectors, Feynman said today. Begonia Tiankai Higher Education High-Tech Fund and existing shareholders Lightspeed China Partners and GL Ventures also participated.
Established in 2021, Tianjin-based Feynman uses carbon capture, utilization, and storage technologies to convert carbon dioxide into carbon monoxide and oxygen via electrolysis facilities to make industrial chemicals, including methyl alcohol, fuel oil, and acetic acid.
The CO2 conversion efficiency of the electrolysis devices and catalysts used in the conversion are Feynman’s core competitiveness, it pointed out. The firm is the world’s only technology company with the ability to mass produce industrial-grade CO2 electrolysis catalysts and membrane electrodes and is already mass-producing large-size membrane electrodes, it said.
Editor: Martin Kadiev