October 1, 2022 06:06

New exhaust gas cleaner to be crowd funded

Image: Daphne Technology.
Image: Daphne Technology.

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Daphne Technology, a spin off of the Swiss Federal institute of Technology, is raising equity via crowdfunding for a new universal emissions converter.

A new universal emissions converter designed by Lausanne-based, Daphne Technology, is to be funded from public donations via the crowdfunding site Crowdcube.

The company has an initial target of $485,299 and said it has hopes for double that amount. Daphne has already raised $9.7m from the European Union’s Horizon 2020 research and innovation programme.

“Daphne Technology is currently pursuing its second equity round to pilot test our solutions with leading shipowners,” said founder and chief executive Dr Mario Michan. Its shareholders already include Aramco and the Innovation Fund from Belgium.

Michan believes there is public demand to support technologies that fight climate change and investors would be able to pledge amounts starting at $10.

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