TURN2X raises €20 million Series A to expand e-methane plants
Antwerpen Ventures leads backing for commercial deployment and lower production costs.
TURN2X raised €20 million in a Series A led by Antwerpen Ventures, reported on September 15. LEA Partners, First Momentum Ventures and Verve Ventures followed on, alongside industry angels.
First Momentum confirmed the round on September 17 and said proceeds will support commercial plants across Spain and further reductions in production costs. The financing expands deployment beyond the company’s existing commercial site in Miajadas.
TURN2X makes synthetic methane using renewable electricity and biogenic carbon dioxide. Because the output can use existing gas infrastructure, its expansion targets industrial customers seeking an alternative fuel without replacing their downstream equipment.
Use of funds
Build commercial e-methane plants in Spain and other markets
Lower production costs