PuriFire Energy, a startup dedicated to sustainable fuel production, has completed a £2.7 million seed investment round led by HICO Investment Group, with additional participation from Bulnes Capital, R&R Investments, and individual investor Abhishek Desai. Founded in 2019 by Dr. Matthew Pearce, PuriFire aims to commercialize hydrothermal treatment technologies to produce cost-competitive green hydrogen, biomethanol, and other sustainable fuels. The company plans to use the investment along with a £525k grant from Innovate UK to launch a pilot project by mid-2025, converting anaerobic digestion liquid digestate into green methanol. Notably, Chris Hartnoll, CEO & MD at HICO Investment Group, will join PuriFire’s Board. HICO Investment Group highlighted the significant demand for PuriFire’s green methanol from the shipping industry, as major shipping companies have ordered new methanol-powered vessels, spurring the investment. Currently, only 0.7% of methanol comes from renewable sources, though green methanol can significantly reduce greenhouse gas emissions.
Renewable Energy, Shipping, Venture Capital,United Kingdom, Global
https://www.setsquared.co.uk/purifire-energy-completes-2-7m-seed-investment-round/