Project Name

Market analysis of UP Catalyst’s technology as an industrial CO₂ utilisation process for sustainable materials
The project is funded by the state budget from the resources allocated for research and development activities.

Project Number: RE.5.04.24-0574
Project Time Frame: 29.04.2024 – 31.10.2024

Project Description
The aim of UP Catalyst’s deep technology startup business development project is to validate a potentially new business model, which involves licensing the carbon dioxide emission utilisation technology and creating a new revenue stream for the company.

The goal of the project


The main objectives of the project are:

• To understand the most profitable business model for UP Catalyst’s CO₂ industrial emission utilisation technology through expert evaluations and consultations, taking into account target markets, sources of CO₂ emissions, regulations and support mechanisms, and the regional and global logic of carbon trading.
• To identify initial partners and investors for the application and potential future licensing of UP Catalyst’s technology.
• To understand the major risks and bottlenecks that may arise in the business model for CO₂ emission utilisation.
• To develop a market analysis and business model for the industrial CO₂ utilization process.

Project progress
The project has started successfully and we will provide updates on its progress soon.

Project result
By successfully achieving the project objectives, the company will be able to:

• Follow a focused business model that enhances the company’s commercial direction in target markets and helps the UP Catalyst team make informed marketing, financial, and business development decisions.
• Develop a pilot project plan for the application of carbon dioxide emission utilisation technology in collaboration with initial industrial partners who wish to reduce and smartly utilise their emissions.
• Assess potential risks and bottlenecks associated with the business model, such as the reduction or absence of carbon tax rates for certain companies, an oversupply of greenhouse gas emission allowances leading to low initiative from major industries to participate, the technological readiness level (TRL) of the technology, and the scale of investments that partners may potentially need to make.

Project funding
The total project budget is 66 565 euros, with a grant amount of 49 923,75 euros.

Project contact
Teele Niidas
CMO
teele@upcatalyst.com