PuriFire Energy raises £2.7m in seed funding to scale green methanol production.
The seed round was led by HICO Investment Group to support pilot projects for sustainable fuel production.
Share allotment filed at Companies House
PuriFire Energy is a Cambridge-based clean technology company that converts wet waste and wastewater into sustainable green hydrogen and bio-methanol.
PuriFire Energy has secured £2.7m in seed funding to advance its sustainable fuel technology. The round was led by HICO Investment Group, with additional backing from Bulnes Capital, R&R Investments, and Abhishek Desai.
The Cambridge-based firm plans to combine the capital with a £525k grant from Innovate UK. The funds will support the establishment of a pilot project slated for mid-2025, which aims to utilise patented technology to convert anaerobic digestion liquid digestate into green methanol.
Alongside the investment, Chris Hartnoll of HICO Investment Group will take a seat on PuriFire Energy's board of directors.
From the founder
"We are very excited to have HICO’s insight and expertise as we continue our journey to transform green methanol and sustainable fuel production. PuriFire’s technology offers a strong value proposition, as it can scale green methanol and sustainable fuel production without expensive electrolysers or carbon capture systems."
Neel Shah
CEO and Co-Founder at PuriFire Energy
Investor perspective
"One of the key attractions was the potential of PuriFire’s technology to convert wet waste into sustainable fuels such as green methanol. By targeting feedstock that doesn’t necessarily compete with other technologies, we believe PuriFire can significantly reduce the levelised cost of methanol production."
Chris Hartnoll
CEO & MD, HICO
Use of funds
- 01Build out infrastructure
Investors
About the company
PuriFire Energy
PuriFire Energy produces green hydrogen and methanol to decarbonise shipping and chemicals.