Green COP, a deep-tech start-up in sustainable fuel solutions in Singapore, on Tuesday (13 February) announced the successful conclusion of its angel investment round.
The company has garnered substantial funding from a curated group of angel investors, including a corporate investor, Ken Energy Pte. Ltd., positioning Green COP for accelerated growth and groundbreaking advancements in the sustainability landscape.
Driving this strategic move is the appointment of Mr. Teo Teng Seng, a veteran in the maritime industry, as its Chairman. Widely recognized for his leadership acumen and maritime expertise, Mr. Teo played a pivotal role in spearheading the angel investment round, providing invaluable insights and support to guide Green COP through this exciting phase.
In a noteworthy development soon to be announced, Green COP’s strategic collaboration with a leading global integrated palm oil player aims to leverage synergies in sustainable practices, further enhancing Green COP’s capabilities in transforming biowaste into sustainable biofuels.
Dr. Hanson Lee, co-founder and CEO of Green COP, said: “We are thrilled to welcome Mr. Teo Teng Seng as Chairman of our Board. His wealth of experience and strategic vision align perfectly with our goals, propelling us towards new horizons.”
Green COP added that the fundraise represented a pivotal milestone, enabling the company to validate its pilot initiatives initially recognised as a top three winner of the 2022 edition of PIER71™ Smart Port Challenge.
Green COP’s patented pre-treatment and fermentation technology yields more efficient drop-in fuels that seamlessly integrate with existing infrastructure, facilitating a smooth transition to sustainable energy solutions. Green COP’s alcohol-based biofuels boasts an extended shelf life of more than 24 months and contribute to a significant 30% reduction in Nitrogen Oxides (NOx) emissions.
The angel investment round has garnered interest from visionary investors who align with Green COP’s mission of shaping a more sustainable world. Their pivotal strategic support, is expected to significantly bolster Green COP’s trajectory and future endeavours.
“We are grateful for the trust and confidence demonstrated by our investors. This funding, enables us to launch a pilot biofuels plant, a transformative milestone in our start-up journey. With Mr. Teo’s guidance, we are well positioned for success in the next phase,” added Dr. Lee.
With the newly acquired funds, Green COP is poised to establish a sustainable biofuels pilot plant with a daily production capacity of 1 tonne. This initiative aims to not only bolster market outreach but also underscores Green COP’s unwavering commitment to nurturing a sustainable economy within the maritime and transportation sectors.
Related: Singapore: Biofuel start-up Green COP among top winners of Smart Port Challenge
Photo credit: Green COP
Published: 14 February, 2024
