Daphne Technology, the Swiss climate deep tech company focused on solving the greenhouse gas (GHG) challenge, announced today that it has raised CHF 3 million from institutional investors advised by J.P. Morgan Global Alternatives’ Global Transportation Group. The capital raise extends Daphne Technology’s successful Series B investment round announced in March 2022, bringing the total to CHF17 million.
Why it matters: A dramatic reduction of greenhouse gas (GHG) emissions is necessary to meet the Paris Agreement goals and International Maritime Organization (IMO) regulations. Daphne Technology focuses on solving the GHG challenge in tough-to-decarbonise industries by developing next-generation climate mitigation technology.
Managment Team at Fribourg Test Facility 2022
Deal details: Daphne Technology announced today that it has extended its Series B financing round with an additional close of CHF 3 million, bringing the total Series B amount raised to CHF 17 million. Series B strategic investors included: Shell Ventures, Trafigura, AET Tankers, Swisscom, and Saudi Aramco Energy Ventures.
“Daphne has developed some of the most mature and economically viable methane reduction technologies in the market,” said Nicholas Meer, Managing Director, J.P. Morgan Alternative’s Global Transportation Group. “We believe Daphne can play an important role in helping the maritime industry’s transition to net zero.”
Andrian Dacy, Global Head, J.P. Morgan Alternative’s Global Transportation Group, commented: “We are excited to be investing in an industry innovator such as Daphne, and are impressed with the unique technology solutions Daphne has developed to significantly abate GHG emissions in both the maritime and broader energy industries.”
Source: Daphne Technology