Climate tech start-up Daphne Technology secures CHF 10 million

Daphne Technology has secured funding from investors committed to limiting global warming, such as Shell Ventures, Trafigura, AET, and Saudi Aramco Energy Ventures.

Based in Saint-Sulpice (canton of Vaud), start-up Daphne Technology leverages innovative technology to remove toxic and greenhouse gas (GHG) emissions such as nitrogen oxides, methane and carbon dioxide from the combustion gas of any fuel type, including oil, LNG, biofuels, ammonia, and hydrogen.

The company’s plug-and-play solution breaks down the pollutants, converting them into non-hazardous by-products, which are either released into the environment or transformed into valuable products. As a result, Daphne contributes to a circular economy and a significant reduction in GHG emissions.

A substantial impact across the energy system

Because Daphne’s technology can be applied to multiple fuel types, it has the potential to make a substantial impact across the energy system. This potential was recognized by Shell Ventures, who led the CHF 10 million capital raise along with Trafigura. AET, and all previous investors co-invested, including Saudi Aramco Energy Ventures and the Innovation Fund. The capital raise earmarks the second round of funding since Daphne Technology spun off from the EPFL in 2018.

Mario Michan, Founder and CEO of Daphne Technology, commented: “The capital raise enables us to deploy our systems and expand our portfolio of emission reduction solutions. The transition to a more sustainable economy represents a historic investment opportunity.”