PuriFire Energy, a pioneering force in sustainable fuel technology, has successfully closed a £2.7 million (US$3.5 million) seed funding round. This significant investment was spearheaded by HICO Investment Group, with notable contributions from Bulnes Capital, R&R Investments, and Abhishek Desai.
Founded by Dr. Matthew Pearce in 2019, PuriFire Energy focuses on advancing green hydrogen and biomethanol production through innovative hydrothermal treatment technologies developed at Cranfield University. The company’s mission is to drive the transition to a low-carbon economy by making these sustainable alternatives competitively viable against fossil fuels.
The fresh capital, combined with a £525k (US$650k) grant from Innovate UK, will support the establishment of a groundbreaking pilot project. This initiative aims to convert anaerobic digestion liquid digestate and other wet feedstocks into green methanol using PuriFire’s patented technology. Chris Hartnoll, CEO & MD of HICO Investment Group, will join PuriFire’s Board as part of this investment.
Neel Shah, CEO and Co-Founder of PuriFire Energy, expressed enthusiasm about the new partnership: “The support from HICO Investment Group will be instrumental in our efforts to scale green methanol and sustainable fuel production. Our technology offers a cost-effective solution for producing green methanol without relying on expensive electrolysis or carbon capture systems.”
Chris Hartnoll highlighted the strategic importance of the investment: “PuriFire’s ability to convert wet waste into sustainable fuels presents a significant opportunity to reduce methanol production costs. With increasing demand for green methanol in the shipping industry, this technology is well-positioned to meet future needs.”
The investment aligns with growing industry momentum toward green methanol, with leading shipping companies such as Maersk, Evergreen, Costco, and CMA-CGM placing substantial orders for methanol-powered vessels. Currently, only 0.7% of methanol produced is green, underscoring the transformative potential of PuriFire’s innovations in reducing CO2 emissions and supporting a cleaner future.
Editorial Opinion
PuriFire Energy stands out as a beacon of innovation in the green fuel sector. Their focus on converting waste into valuable green methanol not only addresses environmental challenges but also aligns with the urgent need for sustainable energy solutions in shipping and beyond.
The backing from HICO Investment Group and other investors underscores the strong market confidence in PuriFire’s technology and its potential to make a significant impact on the low-carbon economy. As the global demand for green methanol rises, PuriFire Energy is well-positioned to lead this critical transition and set new benchmarks for sustainable fuel production.
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