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Metal strip refiner HUEHOCO is a new shareholder of carbonauten and acquires 5 percent of the shares

The HUEHOCO GROUP Holding GmbH & Co. KG, a family-owned company from Wuppertal, North Rhine-Westphalia, has acquired a 5 percent stake in carbonauten GmbH. The start-up is in negotiations with further interested parties from Germany and Japan. With the international metal strip refiner HUEHOCO Group, which has sites on 4 continents, the "minus CO2 factory" has acquired its first industrial partner.

"The combination of classic entrepreneurial values, respectful treatment of people and the environment, as well as the unconditional will to find innovative solutions is the heart of our cooperation," Iris and André Bovenkamp, managing partners of the HUEHOCO Group, explain the step. "We think alike, we feel alike, we are determined. Initial, almost childlike enthusiasm grows up and becomes the courageous decision to bring the utilization of these multi-layered, diverse solutions forward for all of us."

Tosten Becker, founder of carbonauten, explains the relevance of the investment as follows: "HUEHOCO is an important strategic partner for us, because with their investment they show that our solutions are relevant for the industry. In addition, we have similar values, because both sides are concerned with viewing ecology and economy as a holistic and harmonious system."

Interest from a variety of industries ranging from automotive manufacturers to construction, utilities to agriculture is strong - both in terms of projects and investments. The multi-award-winning start-up from Baden-Württemberg develops solutions to reduce CO2 emissions and costs on an industrial scale and has already raised €3.6 million from Climate Carbon, a subsidiary of shareholder ForestFinance Capital, in early 2021. Decentralized carbonization plants carbonize biomass residues into biocarbons, also creating base-load renewable energy. Each ton of these biocarbons stores the equivalent of up to 3.3 tons of CO2.

Applications for carbonaut technology range from agriculture to plastics and construction. The pilot plant in Eberswalde is scheduled to go into operation in spring 2022.

Website address: https://www.biooekonomie-bw.de/en/articles/pm/metal-strip-refiner-huehoco-new-shareholder-carbonauten-and-acquires-5-percent-shares