A cleantech startup hoping to changing the quantity of diesel gas in heavy-duty autos and equipment by as much as 90% has been backed early-stage VC agency Investible.
The extent of pre-Seed funding for DeCarice from Investible’s Local weather Tech Fund was not disclosed.
DeCarice was based in 2023 by engine business veteran Goran Bozic, and Professor Shawn Kook, director of the UNSW Engine Analysis Laboratory. They had been a part of final 12 months’s UNSW Founders Local weather 10x Accelerator and are commercialising UNSW analysis in hydrogen-diesel dual-fuel engines.
Goran Bozic and Prof Shawn Kook with their dual-fuel hydrogen-diesel engine prototype
The hydrogen injection know-how they’ve developed has the potential to scale back carbon emissions by as much as 85%, tackling difficult-to-decarbonise sectors akin to mining, maritime, and heavy transportation.
With rising international demand for inexperienced hydrogen, significantly from nations akin to Japan and South Korea, DeCarice is well-positioned to play a crucial function within the decarbonisation efforts of industries worldwide. The corporate is already garnering curiosity from main engine producers and industrial diesel fleet operators, who acknowledge the sensible advantages of this revolutionary know-how.
Bozic, DeCarice’s CEO, mentioned the tech gives vital emission reductions with out compromising on engine efficiency and has been rigorously examined, peer-reviewed and patented.
“The group at DeCarice is happy to accomplice with Investible as we scale our hydrogen engine know-how globally,” he mentioned.
“This funding will allow us to speed up our commercialisation efforts and produce our answer to market, serving to industries transition to cleaner gas sources.”
Investible funding supervisor Ben Lindsay mentioned DeCarice is the Fund’s twenty ninth funding in lower than three years, making them considered one of APAC’s most energetic buyers in local weather tech.
“Investible is thrilled to help DeCarice as they deal with one of the vital urgent challenges within the transition to a net-zero financial system,” he mentioned.
“The power to retrofit current diesel engines with DeCarice’s hydrogen injection know-how supplies a scalable, near-term answer for lowering emissions in sectors the place the electrification of massive and heavy issues is extraordinarily difficult.”