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Hydrogen startup C-Zero announced it is raising an $18 million Series A extension. The round is led by Energy Capital Ventures, and an initial $5 million has been secured according to an SEC filing. This funding follows a $34 million round in 2022.
C-Zero is developing a technology to extract hydrogen from methane without emitting carbon dioxide, a process known as methane pyrolysis. The resulting "turquoise" hydrogen can be used in various industries, including ammonia and petrochemical production, transportation, and steel production. The solid carbon co-product has potential applications in asphalt and lithium-ion batteries. C-Zero aims to leverage existing natural gas infrastructure to produce low-carbon hydrogen at a lower cost than green hydrogen produced via electrolysis.
Funding Round: Unknown
Amount Raised: $18M
Valuation: Unknown
Lead Investor: Unknown
Other Funds that Invested: Unknown
Company Industry: Chemicals
Company Headquarters: Goleta, California, United States
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