Series A · Climate Tech · Tallinn, Estonia · Founded 2019 · 35–50 employees
UP Catalyst is an Estonian deep-tech spinout of the University of Tartu that converts industrial CO₂ emissions into battery-grade graphite and carbon nanotubes using its proprietary Molten Salt Carbon Capture and Electrochemical Transformation (MSCC-ET) process — achieving a carbon footprint 20x lower than conventional graphite production. The company was selected as one of 47 Strategic Projects under the EU's Critical Raw Materials Act, giving it streamlined permitting and coordinated institutional support. In April 2025, the European Investment Bank provided an €18 million venture loan to scale production to 1,350 tonnes of graphite and 270 tonnes of carbon nanotubes annually by 2027, with a long-term goal of 60,000 tonnes per year by 2030. Backed by investors including Extantia Capital, SmartCap, Warsaw Equity Group, Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures, the company is positioning itself as Europe's leading domestic alternative to Chinese-sourced battery graphite.