NewCO2Fuels

Company Overview

Snapshot

Founded in January 2011 by David Banitt, NewCO2Fuels operated with 1–10 employees. The company raised a total of $11.03M across four funding rounds. In May 2022, NewCO2Fuels ceased operations.

Business overview

NewCO2Fuels commercializes a technology that uses high-temperature CO2 dissociation to convert CO2 into various fuels. Its core technology is a high-temperature-driven CO2 and water dissociation process that produces syngas, a mixture of CO and H2, which can then be used to create synthetic fuels and chemicals. The company's technology boasts a 40% conversion efficiency, aiming to offer competitive prices for end-product fuels while recycling CO2 emissions. NewCO2Fuels, a subsidiary of GreenEarth Energy Limited, operates in the Energy Tech sector, focusing on alternative fuels and renewable energy.

Strategic signal

In May 2022, NewCO2Fuels ceased operations. This indicates a significant shift in the company's trajectory, signaling to investors and innovation teams that its commercialization efforts for CO2-based fuel production were discontinued.

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. This core process produces syngas, a mixture of CO and H2, from which various synthetic fuels and chemicals can be produced.

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?

As of May 2022, NewCO2Fuels ceased to operate, entering a non-active status.

What was a notable partnership for NewCO2Fuels?

In May 2016, NewCO2Fuels signed an agreement with Sinopec, as reported by Proactive Investors.

Did NewCO2Fuels receive any grants?

In September 2015, NewCO2Fuels received a grant from the BIRD Foundation. The company also received a grant from the Israeli Ministry of Energy in January 2011.