Turn2X, a leading producer of renewable natural gas (RNG) plants, has successfully raised 4.3M EUR in seed funding. The round was led by LEA Partners, with participation from Verve Ventures and First Momentum Ventures, as well as industry experts who joined as angel investors.
Turn makes renewable energy transportable. Through their proprietary technology, they convert renewable electricity from sources like solar and wind into renewable natural gas (RNG), a clean and green alternative to fossil natural gas.
The new capital will be used to propel Turn's growth, scale up the company, and further the development and expansion of its RNG production plants across Europe. The company's primary objective is to help nations and the industry transition towards net zero, contributing to the global climate change mitigation efforts.
"We're incredibly grateful for the trust and commitment shown by our investors in this seed round," says Philip Kessler, CEO of Turn. "With this funding, we can bring our innovative RNG production to the next level and help more countries make the vital switch to renewable energy.”
Turn's technology, based on over a decade of research from the CTO at KIT in Karlsruhe, is grounded in a patented modular methanation reactor capable of handling variable load changes – an industry-first. This groundbreaking technology excels at adjusting to fluctuating energy inputs from renewable sources, making it a promising solution for renewable energy production.
"We are excited to partner with Turn2X and support their mission to build more RNG plants across Europe. Their technology is cutting-edge and has the potential to reduce over 1 billion tons of CO2 in the next decade. We look forward to seeing the company's continued growth and success," said Nils Seele Partner at LEA Partners.
About Turn
Turn is a deep tech climate startup based in Germany. Founded with a mission to expedite the transition to net zero, Turn's groundbreaking technology converts renewable electricity into renewable natural gas, enabling green energy to be transported and utilized across existing infrastructure. For more information, please visit www.turn2x.com.
About LEA
LEA Partners supports founders and management teams of B2B tech companies at different stages of development in their growth and achieving a leading market position as an entrepreneurial equity partner. In addition to deep tech investments such as Aleph Alpha or Smart Steel Technologies, market leaders such as sevDesk or Flip are part of the LEA VC portfolio.
About Verve
Verve Ventures is one of Europe’s 10 most active venture capital investors. Founded in 2010 in Switzerland, Verve has offices in Zurich, Paris and Berlin and a team of around 40 people. Verve has invested in over 140 science- and technology-driven startups from Seed stage onward. Through Verve, startups get access to a large network of private and institutional investors that help them win new clients and hire top talent. For more information, visit www.verve.vc