The Netherlands – Dutch company Skytree is set to receive a substantial boost of 2.5 million euros from the Accelerator program of the European Innovation Council (EIC) to further develop its groundbreaking Direct Air Capture (DAC) technology.
This injection of funding comes as part of a broader push in 2023 that saw the company raise a total of 13 million euros. At the heart of Skytree’s mission lies their revolutionary Direct Air Capture technology. In essence, this innovation enables Skytree to filter CO2 directly from the ambient air, opening the door to myriad possibilities for its reuse. The importance of this technology cannot be overstated, as carbon dioxide removal from the atmosphere is a critical component of mitigating the impacts of climate change.
Direct Air Capture works by filtering CO2 from the surrounding air, with the flexibility to employ it directly in areas where CO2 is needed, such as greenhouse horticulture. The implications of this innovation are profound, as it promises to not only reduce the levels of CO2 in the atmosphere but also provide a sustainable source of carbon for various applications. Skytree’s DAC technology offers a tangible solution to reduce emissions in industries where capturing CO2 was previously challenging, such as agriculture and construction.
DAC
Moreover, Skytree is on track to deliver the first DAC systems to customers in Europe and North America as early as 2024. The company’s mission is to help industries reduce their carbon footprint while simultaneously creating a valuable resource from the CO2 that would have otherwise been released into the atmosphere.
The European EIC accelerator program, which is facilitating Skytree’s growth, plays a pivotal role in supporting innovative start-ups and scale-ups as they work to bring breakthrough technologies to the market. As a testament to the significance of Skytree’s contribution, the EIC program has also committed to participating in a Series A financing round set for the spring of 2024.
