ReCarbon receives $7 million from Doosan

By ReCarbon Inc. | December 13, 2019

ReCarbon Inc., the developer of the patented plasma carbon conversion unit (PCCU), a revolutionary greenhouse gas utilization technology, announced on Dec. 3 the recent successful closing of US$ 7 million funding, a part of the Series B funding, from Doosan Mecatec Co. Ltd., a wholly owned subsidiary of the Doosan Group, headquartered in Seoul, South Korea.

ReCarbon President and CEO, Dr. Jay Kim said, "We are so pleased to have a shareholder with such technical expertise and global reach. ReCarbon can now continue with confidence in rapidly commercializing our technology and seeing carbon dioxide and methane emissions being transformed into renewable syngas and hydrogen products in all key markets."

"As a leading player in the global market, we see our investment in ReCarbon, as continuing our focus in leveraging state-of-the-art technologies toward a new energy future, such as the global hydrogen economy," said Ho Seon Shin, CEO of Doosan Mecatec.

2019 is proving to be a banner year for ReCarbon Inc. with the below highlights:

    •Pilot plant in Daegu, South Korea capable of producing fuel cell grade hydrogen from landfill gas (LFG).

    •Commercial plant in development in Tennessee, USA, with its exclusive national LFG to renewable hydrogen distributor, H2Renewables, LLC.

    •Fast developing projects in Canada and Australia.

Contributing to the proliferation of biogas to renewable hydrogen facilities globally is one of its key expansion strategies; making hydrogen mobility more accessible.