GTT and Engie invest in gas handling technology developer

Investment funds of French companies GTT and Engie have taken part in a €4 million financing round to support the development of compatriot CryoCollect, an engineering company specialized in gas handling technologies for biomethane, carbon dioxide (CO2), and hydrogen.

GTT Strategic Ventures and Engie New Ventures are dedicated to supporting sustainable technologies and innovative start-ups that help accelerate the energy transition.

Established in 2017, CryoCollect specializes in the design and engineering of gas treatment, liquefaction, and separation technologies for gases such as biomethane, CO2, and hydrogen.

The company pioneered the capture, purification, and liquefaction of CO2 contained in exhaust gases from anaerobic digestion (biogas), enabling the production of liquid biogenic CO2 which can replace fossil CO2 industrial processes or the production of synthetic fuels.

CryoCollect also applies its know-how in gas processing and liquefaction in other areas to accelerate the energy transition, notably industrial and CO2 capture onboard vessels, re-liquefaction of CH4 boil-off, BioLNG liquefaction to transport biomethane, as well as its use as a sustainable fuel.

Philippe Berterottière, Chairman and CEO of GTT, said: “Investing in CryoCollect aligns with GTT’s commitment to innovation and pioneering smart technologies that contribute to building a sustainable world. We are thrilled with this investment, poised to accelerate CryoCollect’s developments in sustainable gas production, thereby expanding the availability of bioLNG and bioCO2. This advancement will play a pivotal role in producing of low-carbon fuels for the maritime industry. CryoCollect marks the sixth minority investment for GTT Strategic Ventures, our investment fund dedicated to future climate tech champions.”

Haytham Sayah, CEO and co-founder of CryoCollect, commented: “At CryoCollect, we are passionate about innovation. Since our inception in 2017, we have been committed to developing cutting-edge technologies in the field of energy, focusing on purification, liquefaction, and the valorization of natural resources to reduce environmental impacts. Engie and GTT are natural partners for us and we are delighted to welcome them on board. GTT has decades of experience in building a robust and efficient engineering and Technology Company. While Engie embraces a large array of activities (in biogas production, energy efficiency in the industry, bioLNG, etc.) that have a great fit with our portfolio of technologies. Both investors are strongly committed to accelerating the energy transition.” 

GTT’s investment fund recently also supported Energo, the French start-up that developed a technology based on the plasma catalysis process, which enables the production of renewable energies such as green hydrogen, biofuels or methane from CO2, biogas, and ammonia.

Related Article