Brineworks raises €6.8 million in total to scale Direct Air Capture for e-fuels

Brineworks, an Amsterdam-based ClimateTech startup, has secured €5 million in new funding to speed up the commercialization of its Direct Air Capture (DAC) technology. The funding round was led by SeaX Ventures, with additional participation from several other investors, including Pale Blue Dot and First Momentum. This funding, along with a €1.8 million grant from the European Innovation Council (EIC) Accelerator, will help the company advance its research and development.

“Renewable energy is becoming cheaper faster than anyone predicted. The bottleneck now is technology that can use this power flexibly and affordably. That’s exactly what we’ve built – an electrolyzer that runs when the sun shines or the wind blows, and pauses when it doesn’t. We’re unlocking a dream that’s been out of reach for decades.” said Gudfinnur Sveinsson, CEO of Brineworks.

Brineworks was founded in 2023 by Gudfinnur Sveinsson and Dr. Joseph Perryman, who aim to develop scalable solutions to decarbonize industries that are difficult to abate, such as aviation and maritime. Their patented electrolyzer technology is designed to capture carbon dioxide directly from the air while also producing hydrogen. This unique combination provides the essential building blocks for creating sustainable fuels like sustainable aviation fuel (SAF) and e-methanol.

The company's electrolyzer is particularly innovative because it can operate intermittently, allowing it to function when renewable energy sources like solar and wind are available and pause when they are not. This flexibility, without performance degradation, is a major breakthrough that addresses a long-standing challenge in making DAC technology viable with a renewable-powered grid.

‍Dr Joseph Perryman, Co-founder and CTO of Brineworks added: “We envisioned the electrolyzer of the future – and now it’s here. ‍With many long nights of work, we’ve proven a clear path to capturing CO₂ directly from air at below $100 per ton. That’s the threshold the world has been waiting for, and now the scale-up begins.”

The new funding will be used to scale the system to a pilot level, with the goal of being commercially ready by the end of 2026. If Brineworks meets its targets, it could enable the use of carbon-neutral fuels in the aviation industry before the end of the decade. This development could help reduce global emissions and open the door for countries to produce their own clean fuels, moving toward energy independence.