Osmoses secures $11m for revolutionary gas purification technology
Osmoses, a pioneering industrial separations technology company, announced a successful oversubscribed seed funding round of $11 million. Energy Capital Ventures spearheaded the investment, with major contributions from Engine Ventures, Fine Structure Ventures, New Climate Ventures, Collaborative Fund, Little Green Bamboo, BlindSpot Ventures, and influential angel investors like Martin Madaus, the ex-CEO of Millipore Corporation.
Gases like hydrogen, biomethane, and oxygen play a pivotal role in alternative, eco-friendly energy production. Their purification, however, remains a significant challenge due to their inherent molecular structure. The current industrial separation processes, including solvent absorption and distillation, account for a staggering 15% of global energy consumption. This concern escalates when considering the 89% of energy-related greenhouse gas emissions in 2022 that stemmed from energy combustion and industrial activities.
Enter Osmoses’ state-of-the-art membrane technology. Published in the renowned Science Magazine last year, Osmoses’ innovative polymer materials have emerged as a game-changer in gas molecule separation. Offering up to 40% higher product recoveries in some applications, Osmoses guarantees superior performance with reduced costs and energy consumption by up to 90%.
Osmoses raises a whopping $11 million in a seed funding round led by Energy Capital Ventures. Photo courtesy of Business Wire.
“Accessing precious gas molecules like low-carbon hydrogen and biomethane necessitates an eco-friendly and cost-efficient process,” remarked Francesco Maria Benedetti, Osmoses’ co-founder and CEO. “Our pioneering membrane technology is the solution, promising reduced environmental impact, greater economic incentives, and supporting global net-zero goals.”
The Future of Gas Separation and Decarbonization
The gas separations industry, valued at $15 billion today, is anticipated to burgeon to $35 billion by 2030. Osmoses’ innovative polymer material platform is set to catalyze this industry growth, proving vital in the decarbonization of various applications, such as oxygen generation, helium harvesting, and carbon capture.
“Osmoses is charting the path to a future where industrial processes face no separation challenges,” enthused Vic Pascucci from Energy Capital Ventures. “Their groundbreaking membrane platform has the potential to disrupt global markets, making alternative energy sources with minimal environmental impacts more accessible.”
Boosting Osmoses’ financial prowess, they also secured a $1.5 million grant from the U.S. Department of Energy (DOE) and backing from ARPA-E and NSF. The timing aligns with the increasing number of financial incentives for energy transition projects. A primary metric for the Inflation Reduction Act (IRA) – carbon intensity – is something Osmoses’ technology can significantly reduce.
Michael Kearney of Engine Ventures added, “Osmoses is poised to play an instrumental role in the decarbonization of heavy industry. This funding is a leap towards commercialization and scaling.”
Osmoses is gearing up for an exciting phase, planning to double its workforce, amplify its pilot programs, and establish valuable partnerships in the near future.