Nanogence secures financing and delivers to India
23 October 2023 14:24
Nanogence SA has closed a new round of financing, according to a statement. The round was led by investment fund CirCap, which provides strategic private capital to innovative companies in climate technology, healthcare and education. It has assets under management totaling 500 million euros.
Planet First and the EIC Fund, the equity investment arm of the European Innovation Council (EIC), remain partners in the financing of Nanogence, which is based in Renens near Lausanne, in the Innovation Park of the Swiss Federal Institute of Technology Lausanne (EPFL).
While Nanogence's commercial developments focus on the United States, the company is currently supporting the construction of Noida International Airport. When completed, the airport, which is being built by Tata Group and developed by Zurich Airport, is expected to be India's largest, writes the statement. It also aims to become the country's first net-zero airport.
The new investment will strengthen Nanogence's operations and production capabilities in different regions. Demand for low-carbon solutions in the construction and building industries is increasing worldwide, according to the statement. Cement production alone is responsible for eight per cent of global carbon emissions. Nanogence's proprietary catalyst technology generates carbon emission savings of up to 40 per cent, without changing the current manufacturing process.
“With growing demand worldwide, it is essential for us to align with like-minded strong backers for our growth phase,” commented Abhishek Kumar, CEO and founder of Nanogence. ce/gba