France-based Dioxycle has raised USD 17 million in a Series A funding round co-led by Lowercarbon Capital and Breakthrough Energy Ventures Europe (BEV-E). Gigascale Capital also participated in the round.

The company will use the funding to advance its technology and create the first on-site industrial-emission-busting demonstrators and an industrial prototype. Dioxycle aims to achieve preliminary commercialization within the next five years.

Founded in 2021, Dioxycle is developing a breakthrough low-temperature electrolysis technology that can produce sustainable ethylene from recycled carbon emissions. The company's proprietary electrolyzer combines low-cost catalytic technologies, high-efficiency stack design, and advanced process integration to produce high-value chemicals. The company has the potential to reduce CO2 emissions by 800 million tons per annum or more than 2% of the global emissions.