Cleantech startup Brineworks announced that it has raised €6.8 million (USD$7.95 million) in funding, with proceeds aimed at advancing its technology enabling renewable energy-powered, and low-cost Direct Air Capture (DAC) carbon removal and clean fuel production.
DAC technology, listed by the IEA as a key carbon removal option in the transition to a net-zero energy system, extracts CO2 directly from the atmosphere for use as a raw material or permanently removed when combined with storage. While poised to significantly contribute to carbon removal, however, DAC faces cost barriers, with most DAC systems currently requiring between $200 and $600 per ton. The high cost also makes it difficult for synthetic fuels produced with DAC to compete with traditional energy sources.
Founded in 2023 by CEO Gudfinnur Sveinsson and CTO Dr. Joseph Perryman, Amsterdam-based Brineworks is developing DAC technology aimed at enabling sub-$100/ton CO2 capture, alongside hydrogen co-production technologies to unlock affordable e-Fuel production. The company’s process is based on its patented electrolyzer, which uses saltwater can be run on intermittent electricity, compared to other DAC systems that require expensive sorbents, continuous operation, and thermal inputs, enabling Brinework’s technology to significantly reduce capex needs, allow more flexible location options, and to run on intermittent renewable energy, while producing significant amounts of hydrogen.
Sveinsson said:
“It’s clear where the world is heading. Renewable energy is becoming cheaper faster than anyone predicted. The bottleneck now is technology that can use this power flexibly and affordably. That’s exactly what we’ve built — an electrolyzer that runs when the sun shines or the wind blows, and pauses when it doesn’t. We’re unlocking a dream that’s been out of reach for decades.”
The new financing includes €5 million in seed funding led by SeaX Ventures, and with participation from Pale Blue Dot, First Momentum, AiiM Partners, Energie360°, as well as a €1.8 million grant from the European Innovation Council (EIC) Accelerator, the EU’s flagship program for breakthrough innovations.
Dr. Kid Parchariyanon, Founder and Managing Partner at SeaX Ventures, said:
“This investment marks an inflection point for Brineworks, and we believe they have the potential to meaningfully reduce global emissions. Supporting them aligns directly with our goal of helping to cut 1% of the world’s carbon footprint—we’re proud to be part of their journey.”
Brineworks said that the new capital will be used to scale its system to pilot level, with the company targeting commercial readiness by the end of 2026.
Perryman said:
“We envisioned the electrolyzer of the future — and now it’s here. With many long nights of work, we’ve proven a clear path to capturing CO₂ directly from air at below $100 per ton. That’s the threshold the world has been waiting for, and now the scale-up begins.”
