French startup Neolithe secures a €60 million funding round to speed up the deployment of its first Accelerated Fossilization waste treatment plants. The funding is supported by partners such as Otium Capital and new private investors, including the Revolution Environmental and Solidarity fund managed by Crédit Mutuel Impact, alongside public and banking funds.
With this fourth funding round, the company seeks to accelerate its commercial expansion and enhance its contribution to reducing France’s carbon footprint. Neolithe positions itself as an alternative to conventional waste treatment technologies, such as landfilling and incineration. Through Accelerated Fossilization, Neolithe reduces carbon emissions associated with waste treatment and sequesters an estimated average of 420 kg CO2e per ton of treated waste.
Last spring, DirectIndustry interviewed CEO and co-founder Nicolas Cruaud to learn more about the technology. Néolithe’s concept challenges the conventional methods of waste disposal by mimicking the gradual transformation of organic matter into stone. This occurs naturally over millennia. but the startup developed an innovative process that accelerates this geological process significantly, achieving sustainable outcomes within a fraction of the time.