NewCO2Fuels

NewCO2Fuels generates sustainable fuels out of carbon dioxide and water. The company’s primary goal is to provide low-cost sustainable syngas which in turn can be used to produce sustainable fuels at competitive prices.

The Israeli company uses a patented reactor powered by solar energy to capture carbon dioxide emitted from industrial factories, which is then separated into carbon monoxide and oxygen using high temperatures. Using the same reactor, the company breaks water down into hydrogen and oxygen. The carbon monoxide and hydrogen are then infused together to form syngas which is then converted to sustainable fuels. For example, syngas can be converted to methanol, which is used to fuel vehicles, with the company claiming to have a conversion efficiency rate of about 40%. 

Key customers and partnerships 

As of March 2024, the company was in the process of collaborating with potential clients to test out its technology. In 2014, the company signed a memorandum of understanding (MOU) with a European steel plant and international engineering firm, to set up a pilot facility at a European steel plant to test out the integration of its technology with the steel industry. The company has also collaborated with a European conglomerate to test the integration of its technology with the gasification industry. 

Funding and financials

In September 2015, NewCO2Fuels and Acumentrics were awarded the USD 1 million 2014 BIRD Foundation’s Energy program grant to further develop their core technologies. Prior to this, in July 2011, NewCO2Fuels raised USD 9 million in a Series A funding round.