Cool Planet Technologies

About Cool Planet Technologies

Cool Planet Technologies, founded in 2019 by Bengt Carlström, is a UK-based company focused on reducing the cost of carbon dioxide (CO2) capture from industrial emissions. The company is headquartered in Guildford and was co-founded by Bengt Carlström, who has over 40 years of international experience in technology, manufacturing, and infrastructure. Cool Planet Technologies is developing and commercializing an advanced, membrane-based process designed for large-scale, point-source carbon capture.

The core of the company's offering is a proprietary membrane technology, developed in partnership with Helmholtz-Zentrum Hereon, one of Germany's largest research organizations. In August 2023, Cool Planet Technologies signed exclusive worldwide commercialization rights for Hereon's latest generation PolyActive™ membrane. This technology distinguishes itself by being a compact, modular, and energy-efficient solution that does not require consumable chemicals. It can capture up to 99% of CO2 from flue gas, delivering it in either gas or liquid form with 99.9% purity. The system is designed for both retrofitting existing industrial plants and for new-build projects.

Cool Planet Technologies targets hard-to-abate sectors such as cement, steel, and energy-from-waste. Its business model involves designing, building, and selling these carbon capture solutions directly to industrial emitters. A key project is a collaboration with cement manufacturer Holcim at their Höver plant in Germany. Following a successful pilot in 2022, a commercial plant capable of capturing 10,000 tonnes per year is set to begin operations in 2025. The long-term plan includes scaling up to capture approximately 90% of the plant's emissions by the end of the decade.

The company has secured significant funding to accelerate its growth. It has raised a total of $28.8M over two Series A rounds. A funding round in October 2024 brought in €23.7 million, led by Taranis Carbon Ventures and included new investors CRH Ventures and BlueScopeX, alongside existing investors like Eni Next, Neva SGR, and Audacy Ventures. This capital is intended to scale the technology, accelerate commercial deployment, and support the construction of a new membrane manufacturing facility.