A promising cleantech startup aiming to significantly reduce diesel consumption in heavy machinery and vehicles has garnered the support of early-stage venture capital firm, Investible. The startup, DeCarice, received an undisclosed amount of pre-Seed funding from Investible’s Climate Tech Fund.

Founded in 2023 by Goran Bozic, a veteran in the engine industry, and Professor Shawn Kook, the director of the UNSW Engine Research Laboratory, DeCarice is commercializing UNSW research in hydrogen-diesel dual-fuel engines. Their groundbreaking hydrogen injection technology is designed to cut carbon emissions by up to 85%, targeting sectors like mining, maritime, and heavy transportation that are notoriously difficult to decarbonize.

The global demand for green hydrogen is on the rise, especially in countries like Japan and South Korea. Positioning itself well, DeCarice is already attracting attention from major engine manufacturers and industrial diesel fleet operators who see the tangible benefits of this technology.

Ben Lindsay, Investible’s investment manager, highlighted DeCarice as the Climate Tech Fund’s 29th investment in less than three years, solidifying their position as one of APAC’s most active climate tech investors. “Investible is thrilled to support DeCarice as they tackle one of the most pressing challenges in the transition to a net-zero economy,” he noted.

Investible’s backing of DeCarice signifies strong confidence in the startup’s potential to play a crucial role in global decarbonisation efforts. This support comes at a critical time as industries worldwide seek more sustainable and cleaner energy solutions to reduce their carbon footprint.