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CullBeck

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Hydrogen-based process technology for decarbonizing steel production.

Auckland, New ZealandFounded 2025Energy

Valuation $100–250M Last recorded · 2026

Headcount <100 Current team size

Total funding $10–50M Disclosed equity funding

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About CullBeck

CullBeck is a New Zealand process-technology company developing breakthrough low-carbon ironmaking technology for the steel industry, one of the world's hardest-to-abate sectors. Spun out of Victoria University of Wellington, CullBeck's hydrogen direct-reduced iron (H2-DRI) process uses 100% hydrogen in a modular fluidised-bed reactor to reduce iron from New Zealand's iron sands, cutting the carbon emissions of conventional coal-fired blast furnaces. The company is building its first demonstration plant at Glenbrook, Auckland, home of New Zealand Steel. CullBeck was founded in 2025 by Martin Hacon, Chris Jansen, Bavinesh Maisuria, Chris Bumby and Matt Watson.

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At a glance

Status: Operational
Founded: 2025
Headquarters: Auckland, New Zealand
Employees: 4
Open positions: None listed
Dealroom signal: 20.3/100
Industry: Energy
Sector: Energy, Hydrogen, Steel, Climate Tech
Business model: Manufacturing
Client focus: b2b
Links: Website LinkedIn

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Funding history

1 recorded event

Company financing events and reported valuations.

Deal type	Date	Amount	Valuation	Investors	Source
SEED✓Equity / VC	Jul 2026	$20M	$80M	Outset Ventures · Punakaiki Fund · K1W1 · Climate Venture Capital Fund	↗

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