PuriFire secures GBP 2.7m in funds for pilot biofuels plant

UK green hydrogen and methanol solutions developer PuriFire Energy has raised GBP 2.7 million (USD 3.6m/EUR 3.2m) in a seed round that will help it build a pilot project to commercialise the hydrothermal treatment technologies researched by its founder.

Established by Matthew Pearce in 2019, PuriFire is developing a technology to convert anaerobic digestion liquid digestate and other wet feedstocks into green hydrogen and bio-methanol. It seeks to set up a pilot project by mid-2025.

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The Cambridge-based firm has also secured a GBP-525,000 grant from Innovate UK which will also be used for its first project.

The seed round was led by HICO Investment Group which will get one seat on PuriFire’s board. Other participants included Bulnes Capital, R&R Investments and Abhishek Desai.

(GBP 1 = USD 1.321/EUR 1.188)