Swiss materials technology company novoMOF has secured CHF 4.4 million (approximately USD 5.4 million) in funding to advance its development of sustainable materials for carbon capture in high-emissions industries.
Founded in 2017 as a spin-off from the Swiss Paul Scherrer Institute (PSI), novoMOF specializes in Metal Organic Frameworks (MOFs), a class of highly porous materials with extensive surface area within a compact structure. MOFs, first discovered by UC Berkeley chemist Omar M. Yaghi, serve as “molecular cages” capable of selectively capturing gases such as CO2 and methane. novoMOF aims to leverage these materials for point-source CO2 capture, targeting applications across industrial sectors including energy production and manufacturing.
The company states that its MOF-based carbon capture technology could cost less than €100 per ton of CO2. By 2030, novoMOF aims to capture six million tons of CO2 annually, emphasizing the potential for deployment in maritime and heavy-duty transportation due to the space-efficient design of its materials.
The funding round was led by GTT Strategic Ventures, with participation from Shift4Good, Regenerative Ltd, and other investors. Daniel Steitz, CEO and founder of novoMOF, highlighted the significance of the investment in scaling up their technology to address industrial emissions. He expressed the company’s goal of deploying MOF materials in sectors where they can have the most impact on reducing global carbon emissions.
Hélène Loncin, Head of Venture Capital at GTT, commented that the investment supports efforts to decarbonize maritime transport and accelerate the adoption of innovative materials for CO2 reduction.
