Saudi Aramco Energy Ventures leads Series A investment round in marine emissions reduction company Daphne Technology
Daphne Technology SA, an innovator in emissions mitigation technology for the shipping industry, closed a series A financing round led by Saudi Aramco Energy Ventures (SAEV), the corporate venturing subsidiary of Aramco, and joined by The Innovation Fund, a Belgian fund active in the fields of chemistry and life sciences.
Daphne Technology SA is developing a catalyst-free scrubber technology to help the petrochemical, power and transportation industries to reduce air emissions to the levels required by international and national regulations. Daphne Technology’s patented nanotechnology based solutions can be miniaturized and is especially well-suited to meet the requirements of marine vessels.
Daphne Technology’s innovation allows marine vessels to be compliant with current and pending International Maritime Organisation (IMO) regulations economically and sustainably.
The technology transforms the pollutants into valuable by-products (agricultural fertilizers) and thus is fully circular, producing no waste.
This is in contrast with current solutions that produce waste chemicals that are discharged in expensive facilities or into the ocean when allowed.
Daphne Technology SA is a spin-off from The École polytechnique fédérale de Lausanne (EPFL) incorporated in 2017 with headquarters at the EPFL Innovation Park. Our technology is being developed with support from the Swiss Plasma Center and the European Center for Nuclear Research (CERN).