Tupras

Tupras, established in 1965, is a leading Turkish energy company specializing in crude oil refining and petrochemical production. It operates refineries both domestically and internationally, producing a wide range of petroleum products such as liquefied petroleum gas, fuel oil, bitumen, and waxes. Tupras engages in the import, export, storage, marketing, and distribution of these products, primarily within Turkey, through a network of wholesalers and retailers. The company also invests in energy transition and sustainability initiatives through its venture capital arm, Tupras Ventures, founded in 2022.

Levent Zagra

Assistant General Manager

7 past transactions

Aqualung Carbon Capture

Venture Round in 2025
Aqualung specializes in carbon capture technology aimed at helping industries manage their emission challenges. The company offers compact carbon capture systems for industrial flue gas and biogas, utilizing advanced membrane technology that provides an environmentally friendly and cost-effective solution. By employing a second-generation membrane process, Aqualung delivers services that not only minimize the physical footprint of carbon capture systems but also enhance the efficiency of CO2 removal. This innovative approach significantly contributes to decarbonization efforts, allowing industries to reduce their carbon emissions in a sustainable manner.

Electrified Thermal Solutions

Venture Round in 2024
Electrified Thermal Solutions is a Massachusetts-based company founded in 2021 that focuses on decarbonizing industrial processes by replacing fossil fuels with renewable heat. Originating from research at MIT's Department of Nuclear Science and Engineering, the company has developed innovative energy storage technology that converts intermittent renewable electricity into constant heat. This is achieved through the use of low-cost conductive ceramic blocks, allowing various industrial sectors to utilize zero-carbon heat effectively. By providing a sustainable alternative for furnaces, turbines, boilers, and kilns, Electrified Thermal Solutions aims to drive an energy revolution and significantly reduce carbon emissions in industry.

Verdagy

Venture Round in 2024
Verdagy specializes in innovative water electrolysis technology for large-scale green hydrogen production. Based in Moss Landing, California, the company operates laboratory and pilot plant facilities to advance its technology platform, aiming to achieve low upfront capital costs and competitive unit economics.

Ionomr Innovations

Venture Round in 2024
Ionomr Innovations designs and manufactures advanced ion-exchange membranes and polymers for clean tech applications. Founded in 2013, the company pioneers environmentally friendly materials to replace toxic fluorinated chemicals in electrochemical systems, enabling more efficient and sustainable solutions for water treatment, energy storage, hydrogen production, and chemical remediation.

Verdagy

Series B in 2023
Verdagy specializes in innovative water electrolysis technology for large-scale green hydrogen production. Based in Moss Landing, California, the company operates laboratory and pilot plant facilities to advance its technology platform, aiming to achieve low upfront capital costs and competitive unit economics.

iongenics

Seed Round in 2022
Iongenics, established in 2020, specializes in the development and manufacturing of energy-efficient, safe, and modular systems for green hydrogen generation. Utilizing proprietary catalyst technology in PEM electrolyzers, their systems cater to diverse applications like power generation, metal processing, energy storage, and fuel cells. Backed by TÜBİTAK and co-founded by experts in electrochemical systems and hydrogen, Asst. Prof. Erdal Uzunlar and Prof. Can Erkey, iongenics is based at Technopark İzmir in Urla, Turkey.
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