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 certification 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 certification processes, especially crucial for energy-intensive industries that contribute significantly to CO2 emissions. The investment will accelerate Atmen's mission to replace outdated, manual, unpredictable certification processes with a streamlined, automated approach.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 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 is one the single 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 in the 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 certification 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, firstname.lastname@example.org, 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, email@example.com , www.vireo.vc
We're elated to announce that the Cleantech Group has recognized Atmen (formerly Point Twelve) in their esteemed 2023 Cleantech #50toWatch list. This list highlights pioneering companies actively contributing to achieving #netzero with innovative and determined efforts. Being included in this prestigious group is a significant acknowledgment of our commitment to driving industrial decarbonization and integrating green certification into industrial processes, particularly in hydrogen production.
This accolade is a testament to the unwavering commitment and excellence of our team, bolstered by the invaluable support from our partners and stakeholders.
Discover more about us and other inspiring companies leading the way in the cleantech sector on the Cleantech #50toWatch list
Approximately 350 attendees from Germany and other nations gathered at Essen's Colosseum Theatre on 20 June 2023 for the inaugural HYDROVERSE CONVENTION. This event was centred on the burgeoning hydrogen market and emerging start-ups. A diverse program was presented to Europe's hydrogen sector, featuring 12 pitch presentations, an Expo showcasing 20 start-up exhibitors, 7 expert speakers, a keynote address, and two discussion panels.
The highlight of the convention was the presentation of the “HYDROVERSE CONVENTION Award”. Uwe Kerkmann, the Managing Director, alongside H2UB shareholders including OGE, RAG Stiftung, TÜV SÜD, and DLR, honoured the best pitch of the event. The award was claimed by Flore de Durfort from Atmen (previously Point Twelve), who captivated the jury with her innovative software. This software allows hydrogen producers to efficiently track the source of hydrogen, calculate carbon emissions, and secure officially recognised certificates for these efforts. The jury's evaluation criteria included technological excellence, practicality, the potential influence on the hydrogen economy, the calibre of the team, and the effectiveness of the presentation.