Company Overview
Snapshot
Founded in January 2011 by David Banitt, NewCO2Fuels operates with 1–10 employees. The company has raised a total of $11.03M across 4 funding rounds from 2 investors. In May 2022, NewCO2Fuels ceased operations.
Business overview
NewCO2Fuels specializes in Energy Tech, developing a technology that converts CO2 into various fuels through high-temperature CO2 dissociation. Its core technology produces syngas, a mixture of CO and H2, which can then be used to create synthetic fuels and chemicals. The company's process boasts a 40% conversion efficiency, aiming to provide competitively priced fuels while recycling CO2 emissions. NewCO2Fuels primarily serves industries focused on renewable energy systems and automotive within the Energy, Utilities & Waste Management and Industrial Manufacturing sectors.
Strategic signal
In May 2022, NewCO2Fuels ceased its operations, indicating a significant shift in its corporate trajectory. This development signals to investors and innovation teams that the company is no longer actively pursuing its CO2-to-fuel conversion technology, marking an end to its commercialization efforts in the Energy Tech sector.
Log in to access full profile ›Company Intelligence Q&A
- What is NewCO2Fuels' primary technology?
- NewCO2Fuels commercializes a technology that uses high-temperature CO2 dissociation to convert CO2 into a variety of fuels, producing syngas from which various synthetic fuels and chemicals can be made.
- When was NewCO2Fuels founded and by whom?
- NewCO2Fuels was founded in January 2011 by David Banitt.
- What was the company's operational status as of May 2022?
- In May 2022, NewCO2Fuels ceased to operate.
- What was a notable partnership for NewCO2Fuels?
- In May 2016, NewCO2Fuels signed an agreement with Sinopec, as reported by Proactive Investors.
- What was a significant grant received by NewCO2Fuels?
- In September 2015, NewCO2Fuels received a grant from the BIRD Foundation for $1M, as reported by Environmental Leader.