Neolithe Secures €60 Million for Accelerated Fossilization Waste Treatment Expansion
Neolithe has successfully raised €60 million in its latest funding round, supported by Otium Capital, Revolution Environmental and Solidarity Fund, and other private and public investors. The capital injection will expedite the deployment of Neolithe’s innovative Accelerated Fossilization waste treatment plants, contributing to its mission of reshaping France’s waste management landscape.
In its fourth funding round, Neolithe has secured €60 million, with notable contributions from partners like Otium Capital and new private investors, including the Revolution Environmental and Solidarity fund managed by Crédit Mutuel Impact, alongside public and banking funds.
This funding will fuel Neolithe’s plans to accelerate commercial expansion, positioning itself as a sustainable alternative to traditional waste treatment methods, such as landfilling and incineration. The company’s groundbreaking Accelerated Fossilization technology not only reduces carbon emissions linked with waste treatment but also sequesters an estimated average of 420 kg CO2e per ton of treated waste.
Neolithe’s concept challenges conventional waste disposal methods by emulating the natural transformation of organic matter into stone, a process that typically occurs over millennia. However, the startup has pioneered an innovative process that significantly accelerates this geological transformation, achieving sustainable outcomes within a fraction of the time.
For more insights into Neolithe’s technology and its impact on waste management, DirectIndustry interviewed CEO and co-founder Nicolas Cruaud last spring.
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