Daphne Technology raises CHF 3M with J.P. Morgan as new investor.

A dramatic reduction of greenhouse gas (GHG) emissions is necessary to meet the Paris Agreement goals and International Maritime Organization (IMO) regulations. Daphne Technology focuses on solving the GHG challenge in tough-to-decarbonise industries by developing next-generation climate mitigation technology.

Daphne Technology announced today that it has extended its Series B financing round with an additional close of CHF 3 million, bringing the total Series B amount raised to CHF 17 million. Series B strategic investors included: Shell Ventures, Trafigura, AET Tankers, Swisscom, and Saudi Aramco Energy Ventures.

A prominent investor for a mature solution

We're delighted to have J.P. Morgan's clients as investors, and their backing further confirms the growing value of our next-generation climate mitigation technology, and we are proud to continue attracting best-in-class investors committed to working together with us for an economically sustainable energy transition." Dr Mario Michan Founder & CEO

"Daphne has developed some of the most mature and economically viable methane reduction technologies in the market," said Nicholas Meer, Managing Director, J.P. Morgan Alternative's Global Transportation Group. "We believe Daphne can play an important role in helping the maritime industry's transition to net zero."

Andrian Dacy, Global Head, J.P. Morgan Alternative's Global Transportation Group, commented: "We are excited to be investing in an industry innovator such as Daphne, and are impressed with the unique technology solutions Daphne has developed to significantly abate GHG emissions in both the maritime and broader energy industries."

(Press release)