Funds Secured: $20 Million for Conversion of Waste into Carbon Nanomaterials via Elemental Advanced Materials
Elemental Advanced Materials, a pioneering company in the field of waste conversion, has secured a $20 million funding round led by Taranis Carbon Ventures [1][3]. This investment will propel Elemental's operations to new heights, focusing on the production of clean hydrogen and carbon nanomaterials from hydrocarbon waste.
The company's unique thermochemical process transforms plastics, other hydrocarbon-based feedstocks, and even discarded electronics into hydrogen and structured solid-phase carbon materials such as graphene and carbon nano-onions [3]. This process not only reduces carbon emissions by utilizing waste materials but also recovers critical minerals from end-of-life electronics, promoting circularity in supply chains.
Ian Bishop, President and Co-Founder of Elemental, expressed his excitement about the funding, stating that it will enable the company to scale production and deliver high-purity carbon nanomaterials and hydrogen at the required cost, quality, and volume for the industry [3]. The funding will be used to scale Elemental's single-step manufacturing process for producing low-emission carbon nanomaterials and hydrogen.
David Sorin, Managing Director of Taranis, praised Elemental's platform, stating that it not only reduces carbon intensity and waste but also recovers critical minerals from electronic waste, demonstrating circular innovation [2]. Taranis' investment in Elemental aligns with their focus on circular innovation and their aim to bend the industrial emissions curve.
The recovered critical minerals from end-of-life electronics have not been specified, but these materials will undoubtedly find value in various industries. Elemental's carbon nanomaterials, such as graphene and carbon nano-onions, enhance the performance of batteries, capacitors, and electronics [3]. The increased durability, thermal and electrical conductivity, and EMI shielding provided by Elemental's carbon nanomaterials will significantly improve the performance of cement, resins, composites, and lubricants.
Elemental's plans for the funding include scaling production, diversifying feedstocks, enhancing technology, and expanding market reach. The company aims to improve the efficiency and capacity of their thermochemical process, process other potential feedstocks such as hydrocarbon gases and discarded electronics, conduct further research and development, and expand the market for their products.
The use of Elemental's carbon nanomaterials significantly reduces the embedded emissions of the materials they are incorporated into, making them an attractive solution for industries seeking to reduce their carbon footprint. Taranis supports this vision, investing in technologies that reduce carbon intensity and waste, and create value from discarded resources.
[1] https://www.elementalam.com/news/elemental-advanced-materials-secures-20-million-funding-round-led-by-taranis-carbon-ventures [2] https://taranis.co/news/taranis-invests-in-elemental-advanced-materials-to-bend-the-industrial-emissions-curve [3] https://www.greencarcongress.com/2022/05/20220526-elemental.html
The funding will enable Elemental Advanced Materials to scale production and deliver high-purity carbon nanomaterials and hydrogen, thereby expanding the market for their products. In addition to this, the company's plans for the investment include diversifying feedstocks and enhancing technology in the field of environmental science and technology.
