The exact amount of pre-seed funding secured by DeCarice from Investible’s Local Weather Tech Fund remains undisclosed.
Founded in 2023 by veteran engineer Goran Bozic and Professor Shawn Kook, Director of the UNSW Engine Analysis Laboratory, DeCarice was born from a partnership between industry expertise and academic rigor. A startup that emerged from last year’s UNSW Founders Local climate 10x Accelerator is now commercializing groundbreaking research on hydrogen-diesel dual-fuel engines developed at the University of New South Wales.
Goran Božić and Professor Shawn Cook unveil a groundbreaking dual-fuel hydrogen-diesel engine prototype.
With their advanced hydrogen injection capabilities, the company can potentially reduce carbon emissions by up to 85% in challenging sectors such as mining, maritime, and heavy transportation.
As global demand for nascent hydrogen surges, particularly from countries like Japan and South Korea, DeCarice is poised to assume a pivotal role in the decarbonization initiatives of industries globally. The corporation has piqued the interest of leading engine manufacturers and industrial diesel fleet operators, who recognize the compelling benefits of this innovative technology.
According to Bozic, CEO of DeCarice, the technology ensures significant emission cuts without sacrificing engine performance, having undergone rigorous examination, peer review, and patenting.
“The team at DeCarice is eager to collaborate with Investible as we expand our global reach and expertise in hydrogen engines,” he said.
“This investment enables us to accelerate our commercialization strategy, developing a product that addresses the industry’s urgent need for cleaner fuels.”
Ben Lindsay, investable funding supervisor, noted that DeCarice is the fund’s 29th investment in under three years, solidifying their position as one of the most active climate-tech investors in APAC.
“Marking a significant milestone in their pursuit of a net-zero economy, Investible is delighted to support DeCarice as they tackle this pressing challenge head-on.”
“The potential to retroactively upgrade existing diesel engines with DeCarice’s hydrogen injection expertise presents a scalable, near-term solution for reducing emissions in industries where the electrification of large and heavy assets is extremely challenging.”
