Private Equity & Venture Capital
Private Equity, Venture Capital & Startups
December 14, 2023

TRINITI advised UP Catalyst in raising 4 million euros

TRINITI advised Estonian deeptech startup UP Catalyst in raising 4 million euros in the seed investment round led by German climate tech VC fund Extantia, supported by Estonia’s state fund SmartCap along with the existing investors Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures.

UP Catalyst develops technology that can turn carbon dioxide into graphite and other carbon materials. With the funding, the company will build an industrial pilot reactor capable of processing 100 tons of CO₂ annually and producing 27 tons of carbon materials, making UP Catalyst the largest provider of green graphite in the world.

Gary Urb, CEO of UP Catalyst, expressed his excitement about the investment: “We are thrilled to have secured this funding, bringing us one step closer to empowering 4 million car batteries with graphite sourced from CO₂ emissions by 2030. This carbon supply can cover approximately 20% of the EV battery market’s yearly carbon need in Europe.”

From TRINITI the client was advised by the co-head of the firm’s startup practice group, senior associate Peeter P. Mõtsküla in all aspects of the deal, including negotiations, preparation of the transaction documents, and closing.

Further information: https://upcatalyst.com/up-catalyst-secures-e4m-in-funding-to-reduce-europes-reliance-on-chinese-carbon-materials/