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Cool Planet Technologies Limited Licensing and Collaboration Agreements Signed with Hereon

Cool Planet Technologies Limited ("CPT"), a company using advanced membrane capture technology for carbon capture, has signed a series of agreements with Helmholtz-Zentrum Hereon GmbH ("Hereon"). These agreements give CPT exclusive worldwide rights to commercialise Hereon's latest generation PolyActive membrane and jointly developed carbon capture technology. CPT and Hereon have also filed a patent application for the jointly developed IP and will continue to collaborate on the development of the technology.

The advanced membrane technology developed by CPT and Hereon significantly lowers the cost of capturing carbon dioxide in hard to abate sectors including cement, lime, steel, energy from waste and coal-fired power generation by significantly reducing the energy required.

The signing of these agreements formalises and strengthens the existing relationship between CPT and Hereon. The exclusive commercialisation rights also apply to any future development of the technology by CPT and/or Hereon.

CPT is currently building a 10,000 ton per year carbon capture plant at Holcim's Höver cement plant near Hanover, Germany, to demonstrate the technology on a large scale. Following this, commercial operation will commence.

CPT is currently engaged in a second Series A financing; following the Company’s successful funding round in 2022, where the Company gained investment from ENI next, Audacy Ventures and NEVA SGR. The proceeds of this funding round will support the demonstration and commercialisation of the Company’s membrane technology.

Andrew Corner, the Managing Director of CPT, commented:

“We are extremely pleased to have reached this watershed moment with Hereon formalising our longstanding relationship with them.

These agreements will enable us to move forward to realise the huge potential inherent in this technology which provides a low cost, energy efficient means of industrial scale carbon capture.

The CPT and Hereon teams work very effectively together, and we have already seen the rapid results of combining CPT’s industrial experience with Hereon’s R&D capability.”

Torsten Brinkmann, Head of Department of Process Engineering of Hereon’s Institute of Membrane Research for Helmholtz-Zentrum Hereon GmbH, said:

“Membrane technology is ideally suited to address the pressing issues posed by climate change and the change in industrial feedstocks expected in the coming years, allowing for the treatment of gas streams employing an easy to use and energy efficient separation technology. The separation of CO2 from various gas streams has been a focus of Hereon’s research in recent years. The membrane, membrane module and process technologies developed by an interdisciplinary research team has been successfully tested in pilot studies in the energy industry and is ready for the next step towards decarbonising industry. We look forward to delivering this in collaboration with Holcim and Cool Planet Technologies.”

Source: https://coolplanettech.com/

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