In the United States (US) ReCarbon, Inc., the developer of the patented Plasma Carbon Conversion Unit (PCCU) described as a revolutionary greenhouse gas (GHG) utilization technology, has announced the recent successful closing of US$7 million funding, a part of the Series B funding, from Doosan Mecatec Co., Ltd., a wholly-owned subsidiary of the Doosan Group, headquartered in Seoul, South Korea.
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Founded in 2011, Santa Clara, California (CA) based ReCarbon has developed the “ReCarbon” technology platform that recycles carbon emissions into revenue-generating products.
As a leading player in the global market, we see our investment in ReCarbon, as continuing our focus in leveraging state-of-the-art technologies toward a new energy future, such as the global hydrogen economy, said Dr Ho Seon Shin, CEO of Doosan Mecatec.
ReCarbon specializes in building proprietary plasma generation systems that use microwave energy to reform greenhouse gases (GHGs) like carbon dioxide (CO2) and methane (CH4) into industrial gases such as syngas, hydrogen, and other products.
We are so pleased to have a shareholder with such technical expertise and global reach. ReCarbon can now continue with confidence in rapidly commercializing our technology and seeing carbon dioxide and methane emissions being transformed into renewable syngas and hydrogen products in all key markets, said Dr Jay Kim, President, and CEO of ReCarbon.
According to Dr Jay Kim, 2019 is proving to be a “banner year” for ReCarbon, Inc. with highlights such as:
- A pilot plant in Daegu, South Korea capable of producing fuel cell grade hydrogen from landfill gas (LFG);
- A commercial plant in development in Tennessee, USA, with its exclusive national LFG to renewable hydrogen distributor, H2Renewables, LLC;
- Fast developing projects in Canada and Australia;
- Contributing to the proliferation of biogas to renewable hydrogen facilities globally is one of its key expansion strategies; making hydrogen mobility more accessible.