Plug and Play is a seed and early-stage investor focused on great teams leading emerging growth companies.  Plug and Play runs 12 industry-specific accelerator programs twice a year, that acts as a platform for major corporations and high quality startups to connect and collaborate.  Located in the heart of Silicon Valley, Plug and Play participates in Seed, Angel and Series A funding where they often co-invest with their strategic partners. Through years of experience and as part of their network, Plug and Play has put together a world-class network of serial entrepreneurs, strategic investors, and industry leaders who actively assist the firm with its successful and growing investment portfolio.  SEED ROUND. Plug and Play participates in seed round investing through a program called Startup Camp. Startup Camp is a 10-week program based in Silicon Valley for top-notch entrepreneurs to work intensively on building out their business model. Select startups will refine their business models and prototypes with help from a combination of structured workshops, speaker series and mentorship sessions, as well as active coaching from their investment team. At the culmination of Startup Camp, founders will have crystalized their business plans and pitched their company to the venture capital community at EXPO Demo Day.''  ANGEL ROUND Plug and Play makes angel round investments throughout the year, sourced from their monthly Plug and Play Angels (PAPA) sessions. They are partnered with local angel investors in Silicon Valley who participate in PAPA to find the most promising startups and best new technologies.  SERIES A. Series A typical Series A round is in the range of $2 million to $10 million, and is intended to provide operating capital for the company for six months to two years. This round capitalizes the company as it develops its products, performs initial marketing and branding, acquires talent, and conducts other early-stage business operations. It is in this stage that Plug and Play will co-invest with over 180 venture capital partners.  Plug and Play has helped grow market leaders such as PayPal, Danger, Google, DropBox, LendingClub, Zoosk, SoundHound, CreditSesame, Skytree, and has over 400 more early-stage startups in its portfolio.

Plug and Play

Talis Capital is an investment firm that supports and invests in early-stage technology companies. It strategically in early-stage technology companies with global potential. Talis has invested over $600 million worth of transactions since 2009 and the portfolio includes Darktrace, Onfido, iwoca, Pirate Studios, Luminance, Threads, Ynsect and Oh My Green. Focused on building long-term partnerships, Talis leverages its network to give some of the world’s most innovative startups the opportunity to thrive. For more, see www.taliscapital.com.

Talis Capital

Necessary Ventures focuses on investing in what the world needs. They work with the founders to build the most scalable solutions.

Necessary Ventures

Collaborative Fund is an investment fund that provides funding to companies based on creativity and collaborative consumption. The fund centers around two macro themes which drives business innovation in the coming years: the growth of the creative class and the concept of collaborative consumption. Craig Shapiro founded it in New York in 2010.

Collaborative Fund

Incite Ventures is a service provider to start up companies which cater financial, strategy, capital, and advice from a group of experts.

Incite Ventures

Climate Capital is an investment firm that supports companies that directly or indirectly reduce global greenhouse gas emissions.

Climate Capital

Darco Capital is the family office investment vehicle of David Adelman.  Darco Capital is an investment firm that focuses on investing in technology and consumer businesses, startups, and companies.

Darco Capital

CapitalX is an early-stage venture capital firm founded by angel investor Cindy Bi, an enterprise focused generalist. You may expect to receive high-conviction investments of $100k/$250k in pre-seed/seed rounds.

CapitalX

Axial VC

Climactic VC invests in visionary founders solving our planet’s greatest challenges: battling climate change, achieving sustainability, and creating a more circular economy. Founded by serially successful entrepreneurs who have also seasoned venture capitalists and growth execs, Climactic will help engineer the next wave of multi-billion dollar companies aligned with planetary and societal prosperity - proving that capitalism and impact are not in conflict.

Climactic VC

Cayuse Partners provide patient, flexible, risk-tolerant capital at the earliest stages to support high-impact climate solutions.

Cayuse Partners

Tin Shed Ventures is Patagonia’s corporate venture capital fund, which invests in start-ups that offer solutions to the environmental crisis. Originally launched as $20 Million and Change in May 2013, Tin Shed Ventures partners with businesses focused on building renewable energy infrastructure, practicing regenerative organic agriculture, conserving water, diverting waste and creating sustainable materials.

Tin Shed Ventures

H&M Group Ventures is the venture capital arm of the H&M Group.

H&M Group Ventures

We believe that a radical change to our food, agriculture, and ocean sectors is necessary to meet our climate, biodiversity, water, and human health goals. We invest $100-750k in pre-seed and seed-stage companies working to transform these sectors. Our average time to reach a yes / no decision is 15 days (but check back because we update this number live). We keep our investment process targeted so you can go back to building your company.

Ponderosa Ventures

Rubi Laboratories

Rubi Laboratories develops biocatalyst solutions that manufacture carbon-negative textiles for the fashion industry. Its technology offers a natural resource for making things and directly synthesizes the threads that help clients produce viscose that is carbon-negative, water-chemical, land-neutral, traceable, and biodegradable.

Based in California, Rubi Laboratories develops a carbon-negative alternative to synthetic viscose. The company uses its patent-pending enzyme system, developed in-house, to convert carbon captured from waste released from manufacturing facilities into bio-based cellulose, which is then used to produce bio-based viscose yarn fabrics for the fashion industry.

Earth-friendly biotech solutions for the textile, packaging and construction industries.

Bio-based Materials

Rubi Laboratories develops a carbon-negative alternative to synthetic viscose. The company uses its patent-pending enzyme system, developed in-house, to convert carbon captured from waste released from manufacturing facilities into bio-based cellulose. This is then used to produce bio-based viscose yarn fabrics for the fashion industry.

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

Story Network on LinkedIn: In the world of innovative startups, Rubi Laboratories stands out as a…

Walmart

Walmart and Rubi Laboratories are exploring how to capture carbon emissions from manufacturers and facilities in the Walmart supply chain and convert them into a garment prototype – with zero waste.

Solutions that “recycle” captured CO2 to produce commercial products other than sustainable fuel, such as proteins, plastics, building materials, etc.

Based in California, Rubi Laboratories develops a carbon-negative alternative to synthetic viscose. The company uses its patent-pending enzyme system, developed in-house, to convert carbon captured from waste released from manufacturing facilities into bio-based cellulose, which is then used to produce bio-based viscose yarn fabrics for the fashion industry.Rubi claims that its proprietary enzyme system can convert CO2 gas in any concentration into cellulose and results in zero waste as it can utilize 100% of CO2 being input for the production of its material. The company’s bio-based viscose material is priced at a premium, compared to existing synthetic versions in the market, and Rubi aims to reach price parity by improving its technology and scaling up production.The company reported that it has validated its technology by successfully creating a prototype material and was expecting to release a sample in February 2022. Key customers and partnershipsAs of February 2022, Rubi also reported that it has secured deals with global retail and fashion brands to test its sustainable material. In addition, Rubi mentioned that it is in discussions with energy manufacturers to receive the necessary CO2 for the production of its material. In July 2023, the company announced it had partnered with retail giant <a href="https://sp-edge.com/updates/20563">Walmart</a> to explore the conversion of captured CO2 into textiles. Funding and financials<a href="https://sp-edge.com/updates/8586">In February 2022</a>, Rubi Laboratories raised USD 4.5 million in seed funding led by Talis Capital and Necessary Ventures.&nbsp;

<div>
 
 Bolt Threads manufactures vegan &ldquo;spider&rdquo; silk and mycelium-based materials. Bolt Threads develops isolated silk proteins from proteins inspired by spider silk through a yeast fermentation process. The company&rsquo;s Microsilk products are sold under its clothing brand, Best Made Co. The company has also developed another biomaterial using mushroom-based mycelium, an alternative leather product branded as Mylo, which was expected to be produced on a larger scale.&nbsp;
 
 
 In September 2021, Bolt Threads announced its plans to produce Mylo on a commercial scale by the end of 2022 and expected to collaborate with mushroom farmers to heighten its mycelium crops. Though the company reported 
 <a href="https://sp-edge.com/updates/19867">
 halting production of Mylo
 </a>
 in June 2023 due to inflationary pressure and lack of funding, in October 2023, the company announced entering a 
 <a href="https://sp-edge.com/updates/22431">
 SPAC deal
 </a>
 to go public on the Nasdaq.&nbsp;
 
 
 For its Microsilk product, Bolt had a production capacity of 32,000 sq ft per annum as of 2018. Since Microsilk remains significantly more expensive than traditional silk, the founders were seeking ways to scale up.&nbsp;
 
 
 Key customers and partnerships
 
 
 For its Microsilk product, Bolt Threads launched its first collaboration in 2017 with fashion designer Stella McCartney and introduced its second prototype in the form of a biodegradable tennis dress.
 &nbsp;
 
 
 The leather alternative Mylo has been used in collaborations with Stella McCartney, Seattle-based leather bag manufacturer Chester Wallace, and Canadian athletic apparel retailer Lululemon. In October 2020, the Mylo Consortium was also formed including Adidas, Stella McCartney, Kering, and Lululemon, who collectively have made a seven-figure investment into Bolt Threads to produce Mylo. In return for their investments, these brands would have access to a large supply of the product.&nbsp;
 
 
 Stella McCartney has been experimenting with Mylo to create clothing prototypes with plans to use the material in upcoming collections. Adidas used Mylo to produce high-performance footwear for the first time in April 2021 by making a vegan version of its &ldquo;Stan Smith&rdquo; sneaker design that dates back to 1965 and had plans to expand the use of Mylo material in its other products including handbags, wallets, shoes, jackets. In February 2022, 
 <a href="https://sp-edge.com/updates/8404">
 Lululemon
 </a>
 launched a Mylo-based yoga bag collection, which included a multipurpose yoga bag and a storage bag for workout gear. Mylo was also used by Danish luxury brand Ganni for the launch of its limited edition Mylo-based wallet range and one-of-a-kind saddle-bags in June 2022. Ganni&rsquo;s partnership with Bolt Threads included plans to release more Mylo-based products in Q1 2023. With growing demand for its Mylo product, 
 <a href="https://sp-edge.com/updates/8884">
 in February 2022, 
 </a>
 the company partnered with Mycelium Materials Europe (MME) for the commercial production of Mylo but had not been able to materialize its plans.
 
 
 Funding and financials
 
 
 The company&rsquo;s last funding round was a USD 123 million Series D in January 2018 led by Baillie Gifford. The funds were used to commercialize the company&rsquo;s Microsilk&nbsp;products.
 
 
 
</div>

Bolt Threads

MycoWorks is a manufacturer of alternative leather using mushroom-based fungi. Its proprietary brand, Reishi, is manufactured using a patented process called “Fine Mycelium”, which uses fungi’s capacity to bind to itself and carbon-based materials in producing durable three-dimensional material. The benefits of Reishi, according to MycoWorks, include its tensile strength (the force needed to pull material to its breaking point) at 10 Megapascals (MPa), compared to the average cowhide tensile strength of 8.5 MPa. Reishi is also customizable (in terms of sizing and specifications) allowing growing direct-to-design products that eliminate waste from cutting and trimming.Mycoworks operates three Reishi plants as of January 2022. The third plant in California has an annual production capacity of 80,000 sq ft of material per year, increased the company’s production tenfold, and reportedly reached a milestone of producing 10,000 trays of Fine Mycelium after a year of operation. The company is also building a new USD 107 million worth manufacturing facility in Union, South Carolina, with operations expected to commence in 2023. The new facility reportedly is expected to produce several million sq ft of Fine Mycelium per year. In August 2023, the company announced opening a <a href="https://sp-edge.com/updates/20757">136,000 square foot plant </a>&nbsp;which will produce Reishi that has been embraced by luxury brands like Hermès and Ligne Roset for various applications and was expected to begin operation on September 20, 2023.Reishi remains in the prototype development and testing phase. The company announced that the material is currently being tested in clothing, shoe, wallet, and handbag design. Key customers and partnershipsThe company indicated in November 2020 that the first luxury fashion and footwear products containing Reishi will be launched in partnership with leading fashion and footwear brands in the coming months. MycoWorks also partnered with Hermès, the French luxury goods manufacturer, in March 2021 to use a material named “Sylvania”(a Fine Mycelium-based material developed by the two companies over three years) in a sustainable version of Hermès’s “Victoria” travel bag, by the end of 2021. In <a href="https://sp-edge.com/updates/24584">November 2023</a>, the company partnered with YUME YUME for interactive Reishi-based installation at Stedelijk Museum. Funding and financials<a href="https://sp-edge.com/updates/7804">In January 2022</a>, MycoWorks raised USD 125 million in a Series C funding round led by Prime Movers Lab. The funding was expected to accelerate commercial production of Reishi and support in R&amp;D, technology development, and hiring new employees.

MycoWorks

Checkerspot is a manufacturer of microalgae-based performance materials which are used to produce consumer products, including skis and surfboards. The company modifies microalgae’s genes to derive new molecular building blocks and then bioengineers production of consumer products. Microbes are optimized to biomanufacture unique, natural structural oils that were previously not accessible on a viable, commercial scale. The company’s primary focus is on high-performance polyurethanes and coatings made from bio-based oil via fabrication.The company’s commercialized products include Algal Core (a light-weight urethane-based composite) and Algal Wall (cast urethane), both products are offered under the WNDR Alpine brand while algal oil is sold under the miDori bioWick. In February 2021, WNDR Alpine, Checkerspot’s outdoor brand, received the B Corp Certification, private certification granted to for-profit companies by the B Lab, a global non-profit organization formed to support the movement of using businesses as a force for good. Key customers and partnershipsThe company has partnered with Beyond Surface Technologies (BST) to commercialize miDori BioWick, an algal oil used in BST’s wicking textile finish. As of August 2020, the company’s co-development partners also included W.L. Gore and DIC Corporation.Funding and financialsIn its latest funding round in <a href="https://sp-edge.com/updates/16362">February 2023, </a>Checkerspot raised USD 55 million in Series C funding led by ArrowMark Partners to accelerate the development and commercialization of biobased alternatives for everyday products and expand into markets, such as industrial applications, personal care, and food and nutrition.

Checkerspot

Mi Terro converts milk waste into sustainable yarn, using a self-developed technology known as Pro-Act that extracts casein protein molecules from milk. The protein is purified and undergoes a dynamic flow shear spinning process, converting the casein to sustainable fiber. The resulting yarn is claimed to be three times softer than cotton and has applications in textiles, food packaging, bedding, personal care, and medical sectors. Mi Terro has also developed a limited-release ocean-waste duffle bag. Key customers and partnershipsThe company has partnered with Nike, Danone, Toyoshima, DFA, Mitsubishi, Lair East Labs, Dole, Budweiser, and Harada. In <a href="https://sp-edge.com/updates/23179">October 2023</a>, the company partnered with Lipton to develop dissolvable tea pods. Funding and financialsThe company completed two rounds of funding in 2020, raising USD 100,000 in January 2020 and USD 50,000 in March 2020. In January 2021, the company also won the Meda Million Dollar Challenge and received a USD 300,000 prize. In March 2022, the company raised USD 1.5 million in a Seed round led by Astanor to scale up production.

Mi Terro

Modern Meadow develops collagen-based materials from plant proteins, using a range of biofabrication processes including the creation of bio alloys, solution dyeing, protein design, and fermentation. The focus of the company is on the luxury branded market with its fully biodegradable proprietary brand, “ZOA”. Modern Meadow also reports that it is developing “Bioleather1 (BL1)”, an alternative to chrome tanned bovine leather made using its proprietary BioAlloy process. According to research published by the company in <a href="https://sp-edge.com/updates/8431">February 2022 </a>, BL1 reduces greenhouse gas emissions by 80% and 20% compared to traditional and synthetic leather respectively. It also reduces water consumption from groundwater sources, land use, and the subsequent degradation of water bodies during the process by 95% compared to conventional leather production.In April 2020, Modern Meadow announced plans to commence commercial production later that year and was actively looking for manufacturing partners. As of the same date, Modern Meadow employed between 70-90 staff at its 72,000 sq ft factory in New Jersey.Key customers and partnershipsModern Meadow announced a partnership with Evonik in March 2018, to develop and scale-up the commercial production of fermentation-based products.In April 2021, the company reported that it would announce collaborations with fashion brands and industry partners during the following six to nine months. In <a href="https://sp-edge.com/updates/15657">January 2023 </a>, Modern Meadow partnered with Taiwan-based sustainable fabric company, Singtex to develop biomaterials for various applications, beginning with a sustainable, waterproof, membrane-based material for the outdoor apparel market. In <a href="https://sp-edge.com/updates/16786">February 2023 </a>, the company partnered with US luxury brand, Tory Burch, to launch Tory Burch’s first plant-based leather alternative tote, the Ella Bio, powered by Modern Meadow technology, Bio-Alloy.In June 2023, it also formed a strategic partnership with <a href="https://sp-edge.com/updates/19178">Navis TubeTex </a>, a provider of textile machinery, to develop a sustainable textile manufacturing process. During the same month, it also formed a strategic partnership with <a href="https://sp-edge.com/updates/19868">BASF </a>to create an animal-free material called Bio-VERA that replicates the look, feel, and aging properties of traditional leather, suede, or chamois.In <a href="https://sp-edge.com/updates/30500">June 2024</a>, the company partnered with Earthletica to unveil the Bronte Jacket which used Bio-Alloy Shield technology.Funding and financialsIn April 2021, the company raised USD 130 million in a Series C funding round led by Key Partners Capital to (i) develop the company's biofabrication technology, used in creating an alternative to fossil-fuel-based textile coatings; and (ii) scale-up and commercialize its collagen-based leather material.

Modern Meadow

Developers of materials with applications across apparel, automobile, home goods, etc.

Developers of non-leather material alternatives such as wool, silk, and viscose—mostly for apparel

Developers of alternatives to plastic and other materials used in packaging

Developers of alternative materials for industrial applications such as sporting goods, electronic components, and automotive parts

Reuses waste to create bio-based materials

Sustainable alternatives to materials like animal leather, silk, plastic

Rubi Laboratories develops a carbon-negative alternative to synthetic viscose. The company uses its patent-pending enzyme system, developed in-house, to convert carbon captured from waste released from manufacturing facilities into bio-based cellulose. This is then used to produce bio-based viscose yarn fabrics for the fashion industry.Rubi claims that its proprietary enzyme system can convert CO2 gas in any concentration into cellulose and results in zero waste, as it can use 100% of the CO2 input used for the production of its material. The company’s bio-based viscose material was priced at a premium, compared to existing synthetic versions in the market. Meanwhile, Rubi aimed to reach price parity by improving its technology and scaling up production.Key customers and partnerships&nbsp;Rubi reported that it had secured deals with global retail and fashion brands to test its sustainable material. In addition, the company mentioned that it was in discussions with energy manufacturers to receive the necessary CO2 for the production of its material.In <a href="https://fashionunited.uk/news/fashion/ganni-and-rubi-debut-carbon-made-yarn/2023062870243">June 2023</a>, Ruby teamed up with Danish fashion brand Ganni to debut the first-ever yarn made directly from carbon emissions through a fully enzymatic process. In <a href="https://sp-edge.com/updates/20555">July 2023</a>, Ruby partnered with Walmart to explore the conversion of captured CO2 into textiles.Funding and financialsIn December 2023, Rubi Laboratories raised USD 5.1 million in a venture round backed by undisclosed investors.&nbsp;In March 2023, Rubi Laboratories raised <a href="https://sp-edge.com/updates/16865">USD 8.7 million</a> as the second tranche of its seed funding round co-led by Talis Capital, Tin Shed Ventures, and H&amp;M Group. The first tranche of the company’s seed funding was in February 2022 when it raised <a href="https://sp-edge.com/updates/8588">USD 4.5 million</a> co-led by Talis Capital and Necessary Ventures. The funds were used to support Rubi in R&amp;D efforts and the commercialization of its product for major fashion brands.

Prometheus follows a next-gen electro-chemical-based approach to convert CO2 into carbon-neutral fuel using renewable energy and carbon nanotubes. Industrial fans suck ambient air and blow it across a waterfall that absorbs CO2 and additional water. The electricity “charges” and “energizes” captured carbon with hydrogen molecules from water to create long-chain alcohols. Alcohols are then harvested using a special type of membrane called the Maxwell Core. Its pores are carbon nanotubes, which allow alcohol through while rejecting water. A final catalyst step combines the alcohols and recovers water. The company claims that it is the only one in the world that can separate alcohol from water economically. This step can be customized to produce gasoline, diesel, or jet fuel.In <a href="https://prometheusfuels.com/news/our-finished-commercial-scale-stack-design-unlocks-lowest-cost-fuel">October 2022</a>, Prometheus completed the design of the commercial-scale cell and stack Titan Fuel Forge.Key customers and partnershipsIn June 2019, Prometheus partnered with Boom Supersonic (a company building the world’s fastest supersonic airliner) to supply carbon-neutral fuel for the flight test program of one of its demonstrator aircraft scheduled for 2021. In July 2021, the company entered into a purchase agreement with American Airlines to supply 10 million gallons of carbon-neutral jet fuel.&nbsp;

Prometheus Fuels

UK-based Storegga Geotechnologies (Storegga) provides carbon capture and storage (CCS) solutions for energy-intensive sectors such as petrochemicals, agriculture, and airlines. In July 2020, Storegga acquired Pale Blue Dot Energy (PBDE), through which the company became the lead developer of the Acorn CCS Project (the UK’s first large-scale carbon capture project). In August 2022, Storegga launched a new entity <a href="https://sp-edge.com/updates/11990">“Storegga Americas” </a>to explore clean fuel opportunities and to scale up its operations across the US, Canada, Latin America, and the Caribbean.Key customers and partnershipsIn June 2021, Storegga partnered with Carbon Engineering, a Canadian direct air capture (DAC) startup, to initiate engineering and designing a new facility in North East Scotland, which could remove between 500,000 and one million metric tons of CO2 from the atmosphere annually. The project was backed by a UK government grant of GBP 249,000 received in May 2021. In July 2021, Acorn CCS signed a memorandum of understanding (MoU) with SEGAL and FUKA gas terminals to capture carbon dioxide (CO2) from its operations. The two gas terminals will become the first customers for Acorn CCS. In August 2021, Storegga signed an MoU with Virgin Atlantic to secure the airline as an early customer.&nbsp;In March 2022, Storegga <a href="https://sp-edge.com/updates/9378">partnered</a> with Mitsui to commercialize its proprietary DAC technology. In June 2022, the company signed an MoU with <a href="https://sp-edge.com/updates/11230">Aker Carbon Capture</a> to deploy CCS projects in the UK. Other partners include Sval Energi, Talos Energy, Freeport LNG and <a href="https://sp-edge.com/updates/10230">ScottishPower</a>.In August 2023, Storegga together with Sval Energi, a Norwegian energy provider, and Neptune Energy, a UK-based oil and gas explorer, <a href="https://sp-edge.com/updates/21191">secured</a> their <a href="https://sp-edge.com/updates/16698">previously applied</a> CO2 storage license to develop the Trudvang CCS project in the Norwegian North Sea. In October 2023, the company signed an MOU with <a href="https://sp-edge.com/updates/22815">Svante</a> to develop CCUS projects by combining Svante's carbon capture and removal filter technology and Storegga's CO2 transportation and storage expertise. In <a href="https://sp-edge.com/updates/32814">August 2024</a>, the company partnered with PETRONAS and ADNOC to evaluate offshore CO2 storage capabilities in Malaysia.&nbsp;&nbsp;&nbsp;&nbsp;

Storegga Geotechnologies

Carbfix is an Icelandic carbon sequestration company that stores captured carbon dioxide (CO2) permanently underground. During the pilot phase of Carbfix, findings revealed that over 95% of the injected carbon dioxide mineralized within two years, in contrast to the previous understanding that it would take several hundred or thousands of years. Carbfix began as an academic-industrial research project in 2007 and was established as a subsidiary of Reykjavik Energy (OR), an Icelandic geothermal company, in 2019. Carbfix was spun out of OR in January 2020.As the technology requires vast amounts of water to dissolve carbon dioxide, in June 2021, Carbfix’s technology was validated to be used with seawater—applicable in regions where fresh water is scarce. The use of seawater with Carbfix’s technology is experimental, with a field pilot project scheduled in Iceland for 2022.Key customers and partnershipsIn August 2020, Climeworks, a Swiss company specializing in direct air capture (DAC) technology, along with ON Power, a Swiss geothermal energy provider, signed an agreement with Carbfix to scale up CO2 removal and storage. From September 2021, the new facility, located in Iceland, is expected to remove 4,000 tons of CO2 from the atmosphere per year. In 2017, Climeworks and Carbfix also partnered to operate a small-scale DAC and storage facility of 900 metric tons per year, also in Iceland.In July 2021, Aker Carbon Capture, a Norwegian carbon capture company, signed a memorandum of understanding (MoU) with Carbfix to collaborate on cost-efficient carbon capture and storage solutions. Elkem, a Norwegian environmentally responsible manufacturer of materials, has also partnered with Carbfix to reduce emissions of its alloys plant in Grundartangi, Iceland.In <a href="https://sp-edge.com/updates/21311">August 2023</a>, the company partnered with the University of Edinburgh (UoE) and the Scottish Universities Environmental Research Centre to evaluate CO2 mineralization in Iceland. In <a href="https://sp-edge.com/updates/23535">November 2023</a>, Carbfix injected dissolved CO2 in seawater underground in partnership with the universities of Geneva and Switzerland, Iceland GeoSurvey (ISOR), and University College London.In <a href="https://sp-edge.com/updates/28975">April 2024</a>, Carbfix partnered with Deep Sky, a Canadian carbon removal project developer to explore potential CO2 mineral storage options in Canada.Funding and financialsIn July 2022, Carbfix was awarded a grant of ISK 16 billion (USD 117 million) from the EU Innovation Fund for the deployment of its Code Terminal project (a CO2 transport and storage hub) to capture 3,000,000 tons of CO2 per annum by 2031.

Carbfix

Global Thermostat specializes in Direct Air Capture (DAC) technology to remove carbon dioxide (CO2) from the atmosphere. The company employs a proprietary process using amine-based adsorbents to capture CO2, which is then concentrated for various applications, including storage and conversion into fuels, chemicals, and other products. This technology aims to transform CO2 from a climate liability into a valuable resource, contributing to a circular carbon economy​In <a href="https://sp-edge.com/updates/29707">May 2024</a>, the company was acquired by Zero Carbon Systems, a developer of CO2 removal technologies, for an undisclosed sum.Key customers and partnershipsAs of August 2021, Global Thermostat had two pilot facilities in California and Alabama, each with the capacity to remove 3,000–4,000 metric tons of carbon dioxide per year. Since 2019, Global Thermostat has been in a partnership with ExxonMobil to scale commercially.In April 2023, Global Thermostat unveiled one of the world’s largest DAC units that permanently captures CO2 from the atmosphere. The unit had been under trial since the end of 2022, capturing 1,000 tons of CO2 per annum at the company’s US headquarters in Commerce City, Colorado. The DAC unit launched was a commercial-scale demonstration, with the company taking on pre-orders for DAC systems.In <a href="https://sp-edge.com/updates/26251">February 2024</a>, the company commissioned its first containerized T-Series system for the multi-ton scale DAC, with two microalgae producers, MicroBio Engineering Inc and Cyanotech Corporation, using this system to improve the production of microalgae biomass for renewable fuels in Kailua-Kona, Hawaii.Funding and financialsMost recently in May 2023, the company received an undisclosed investment from Sumitomo Corporation, via its US-based venture arm Presidio Ventures. The two companies had also signed a letter of intent (LoI) to identify and develop CCS projects globally.

Global Thermostat

Remora’s devices capture carbon emissions directly from truck tailpipes. They can be fitted onto tailpipes of existing trucks to capture carbon dioxide (CO2) for 600–1,200 miles before an offload. Remora’s solution was initially funded by the Environmental Protection Agency (EPA) and tested at the agency’s National Vehicle and Fuel Emissions Lab.The company’s technology has a capture efficiency of 80% and can offload the captured CO2 while refueling—to be sold to concrete producers and other end users. The proceeds from the sale of CO2 are expected to be shared across fleet owners and customers once commercialized. Funding and financialsIn February 2024, the company raised an undisclosed amount in a Series A funding round led by Voyager Ventures.&nbsp; Key competitors: None comparable (Remora is the only startup that captures carbon from truck tailpipes)

Remora

Solutions that capture CO2 from flue-gas stacks including both industrial stacks and vehicle tailpipes.

Solutions that capture CO2 from ambient air, including from indoor spaces.

Solutions that permanently store captured CO2 underground.

Solutions that “recycle” captured CO2 to produce sustainable fuels

Recycles captured CO2 emissions to produce sustainable fuels and other products

Rubi Laboratories

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