Turning CO2 Into Jet Fuel: Startup Raises $130M For Carbon Transformation Tech
Carbon transformation company Twelve has raised $130 million in Series B funding to further support the engineering and manufacturing industries.
The funding round was led by DCVC and included Series A investors Capricorn Technology Impact Fund and Carbon Direct Capital Management. Breakout Ventures, Munich Re Ventures, Elementum Ventures, Microsoft Climate Innovation Fund, and other investors participated in the funding round.
The new funding will deploy the world’s first carbon transformation product. The product, designed to create a wide range of products with a lower carbon footprint, will use transformative technology to convert CO2 into products historically made from fossil fuels.
They have not only developed carbon transformation technology but also revolutionized reduced emissions by making the world’s most critical chemicals from CO2 instead of fossil fuels. The carbon transformation company aims to change how the world addresses climate change by reducing emissions and reversing the carbon imbalance.
According to Columbia’s SIPA Center on Global Energy Policy research, replacing raw fossil materials with renewable carbon could avoid nearly 10% of global greenhouse gas emissions. For example, transformative carbon company Twelve is transforming emissions into products for the automotive industries by replacing fossil-based transportation fuels with carbon-neutral fuels like E-Jet.
“Companies and governments no longer need to rely on fossil fuels for the carbon that goes into everything from apparel and cleaning products to electronics and jet fuel,” said Nicholas Flanders, co-founder and CEO of Twelve.
“This fresh funding ensures we can reach industrial scale to help new and existing partners achieve rapid emissions reduction.”