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MUNICH, Germany — January 16, 2024 — Atmen, a Munich-based regulatory technology company, announced a successful €1.3 million pre-seed funding round today. The round was led by Revent with co-investment from Vireo Ventures with participation from UnternehmerTUM and angel investors. Atmen, previously known as Point Twelve, harnesses IoT and SaaS to provide transparent, dynamic and automated carbon intensity tracking supporting the official certification process for energy-intensive industries. The company starts with hydrogen and e-fuels.
Atmen’s technology is poised to meet the surging demand for precise, scalable processes in support of certification, especially crucial for energy-intensive industries that contribute significantly to CO2 emissions. The investment will accelerate Atmen's mission to support the official certification process by replacing outdated, manual, unpredictable processes with a streamlined, automated approach.
“We are thrilled to lead Atmen's funding round,” said Henrik Grosse Hokamp, Partner at Revent. “Industrial decarbonization is one of the most pressing challenges of our decade. Unless carbon intensity is continuously tracked and certified, producers cannot prove their target achievement and product decarbonization cannot be incentivized.”
Atmen addresses a critical energy transition segment by focusing on hydrogen and e-fuels. The evolving EU regulations, including the Renewable Energy Directive mandating a 42% renewable hydrogen quota by 2030 and financial mechanisms like the EU Emissions Trading System and Carbon Border Adjustment Mechanism, are pushing industries towards greener alternatives. These regulations, along with potential penalties for not using sufficient synthetic fuels in sectors like maritime and aviation by 2030, create a compelling economic factor for industries to adapt.
Atmen recognizes the challenges of aligning with market demands and regulatory compliance. To tackle these issues, the company offers technology that enables producers to incorporate automated, streamlined processes to support sustainability certification right from the initial design phase of their products and supply chains. In addition, the company collaborates with industry partners to both promote Digital Product Passports as a norm for hydrogen and e-fuels and to enable compliance technologies.
Leading renewable hydrogen producer Lhyfe and TÜV NORD count among Atmen's key partners.
Digital Product Passports digitally record, process, and share product sustainability information among supply chain partners, authorities, and consumers. This initiative aims to help hydrogen and e-fuel producers comply with changing regulations and globally competing certification standards.
"We are at a turning point in how industries verify their sustainability efforts," remarked Flore de Durfort, Co-founder & CEO of Atmen. “Hydrogen and e-fuels are a core piece of industrial decarbonization, but also the first energy-intensive products for which the pressure and complexity to prove and certify decarbonization are so acute”.
“Carbon intensity tracking and certification processes are the biggest pain points in scaling the green hydrogen economy and we believe that Atmen´s solution has the potential to become the industry-setting standard in this field. Once achieved, this offers enormous potential to be a new category-defining player to support official certification of all low-carbon products.,” added Sven Heiligtag, Partner at Vireo Ventures.
With this funding, Atmen is well-positioned to deliver its cutting-edge automation platform to market, supporting the transition to a low-carbon economy.
Atmen is a regulatory technology company based in Munich, Germany, innovating in carbon intensity certification automation. The company was founded by Flore de Durfort, Quentin Cangelosi and Erika Degoute in Munich in January 2023 with competencies at the crossing of energy markets and regulation and technology. With a focus on energy-intensive industries, Atmen’s platform is designed to facilitate large-scale, verifiable decarbonization processes. For more information, visit www.atmen.co
Revent is an Impact VC fund investing in startups across Europe using technology to drive systemic change in climate, health, and economic empowerment sectors. With a hands-on approach, Revent empowers companies to combine purpose with profitability. Contact: Henrik Grosse Hokamp, henrik@revent.vc, www.revent.vc
Vireo Ventures is a Venture Capital firm that invests in European early-stage start-ups. The Vireo Electrification Fund invests in technology companies that seek to shape and benefit from accelerating the energy transition via decarbonized electrification, from renewable energy production, smart grids, and infrastructure all the way to applications in areas such as emobility, real estate, and industry. The founders of Vireo Ventures combine decades of experience with extensive networks in the energy industry and leverage their expertise when supporting portfolio companies. Contact: Matthias Engel, matthias@vireo.vc , www.vireo.vc
- Edited on 6th June 2024 for clarity -
From among 29 selected companies pitching their solutions at the European Hydrogen Valleys Investment Forum in Riga on 5–6 September 2024, Atmen was chosen as one of the winners. This honour reflects both the innovation of our solution and the strength of our presentation. award underscores our dedication to excellence in regulatory solutions for hydrogen certification and beyond.
Read full article here on TechTour
Image credit: Courtesy of Tech Tour
Atmen is proud to announce its latest achievement as the winner of the coveted H2-Age Award at this year’s National Hydrogen Economic Forum. This recognition underscores Atmen’s pivotal role in advancing the hydrogen industry through innovative solutions.
Sponsored by the National Hydrogen Economic Forum, the BMW Group, Hamburg Invest, and the Renewable Energy Hamburg Cluster (EEHH), the H2-Age Award celebrates trailblazing start-ups that propel the hydrogen sector forward. The award spotlights outstanding innovations across the entire hydrogen value chain, supporting young companies poised to make significant impacts.
Atmen was honoured at the 3rd National Hydrogen Economic Forum in Hamburg on May 7, 2024, where the team not only received a €5,000 prize but also a trophy and the title of "Best Hydrogen Start-up 2024". The event provided a platform for Atmen to showcase its products to a distinguished audience, including industry leaders and innovators.
The decision was made by a distinguished panel of judges, including Dr. Stefan Kaufmann, Member of the German Bundestag and former Federal Government Commissioner for Hydrogen Innovation; Prof. Dr. Christopher Hebling, Director of International Affairs at the Fraunhofer Institute for Solar Energy Systems ISE; and Jan Rispens, Managing Director of Erneuerbare Energien Hamburg Clusteragentur GmbH (EEHH).
In his laudatory speech, Jan Rispens particularly emphasized the platform's high degree of digitalization and the relevance of the green certification topic for the sector. Atmen provides the ideal interface between legal and regulatory requirements for green hydrogen certification, including for the requirements of the European Commission in accordance with the RED II Directive, and the operational data flows during production, supply and use of green hydrogen. It turns a complex, tedious topic into a set of highly usable applications, derisking hydrogen projects development and operations.
"We are at a turning point in the way the industry verifies its sustainability efforts. Hydrogen and e-fuels are a core part of the industrial decarbonization, but also the first energy-intensive products where the complexity of proving and certifying decarbonization are so acute." commented Flore de Durfort, co-founder and CEO of Atmen.
Atmen continues to push the boundaries of technology and innovation in the hydrogen industry, committed to contributing to a sustainable and energy-efficient future.
Photo, from left to right: Heike Tipmonta, HIW Hamburg Invest (Sponsor), Anne Kleczka, BMW Group (Sponsor), Prof. Dr. Christopher Hebeling, FhG-ISE (Juror), Dr. Dominik Peller (Atmen), Flore de Durfort (CEO Atmen), Jan Rispens, EEHH (Juror und Sponsor), Nina Alswede, HIW Hamburg Invest (Sponsor), Stefan Kaufmann, MdB (Juror)
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