UP Catalyst, an Estonian deeptech company converting CO₂ emissions into valuable carbon materials, has signed a Memorandum of Understanding (MoU) with Teknos, a global coatings company that offers a wide range of paints and coatings for the manufacturing industry, building professionals and consumers. The collaboration marks a strategic step towards developing and commercialising sustainable alternatives to fossil-based carbon black for use in powder coatings and wet paints.
Under the agreement, UP Catalyst and Teknos will cooperate in key areas, including material testing and development, as well as production and supply.
“We are excited to join forces with Teknos to bring sustainable carbon materials into mainstream industrial use,” said Rait Maasikas, CFO of UP Catalyst. “This cooperation not only advances our shared environmental goals but also showcases the scalability and versatility of CO₂-based carbon materials,” added he.
UP Catalyst has achieved the lowest carbon footprint for carbon nanotubes and one of the lowest for battery-grade graphite, as verified by its cradle-to-gate Life Cycle Assessment (LCA).
UP Catalyst transforms industrial CO₂ emissions into cost competitive, high-quality and energy-efficient graphite, carbon black, and carbon nanotubes for electric vehicle batteries and a range of other applications, including paints and coatings, polymers and concrete. In 2024, the company opened a new production facility for carbon materials in Estonia.
The company has raised €6.4M in equity, obtained €8M in grant funding, and €18M venture debt loan from the European Investment Bank (EIB).
UP Catalyst´s strategic partnership promotes circularity and reduces fossil dependence
UP Catalyst´s and Teknos´ partnership exemplifies a circular economy approach by transforming industrial CO₂ emissions into high-value raw materials that contribute to the sustainability of end products. By shifting to CO₂-based carbon inputs, Teknos and UP Catalyst support local production, reduce dependence on fossil resources, and open new revenue opportunities across multiple industries—such as biogas plants—by enabling CO₂ valorisation. The result is a more resilient and sustainable supply chain that aligns with both companies’ climate targets.
“We are excited to join forces with Teknos to bring sustainable carbon materials into mainstream industrial use.”
Rait Maasikas, CFO of UP Catalyst
The MoU sets the foundation for long-term collaboration, with the potential to scale the use of CO₂-derived black tinting carbon across Teknos’ product lines in Europe and beyond. The company operates across 20+ countries in Europe and Asia with a global reach through an extensive dealer network.
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