What in the event you could convert all of the harmful emissions from fossil-fuel-intensive industries into plastics, paints and more? That’s the dream of Copenhagen-based climate-tech startup Again, which has raised $43 million in Series A funding from Google Ventures (the enterprise capital arm of Google’s parent company Alphabet) and HV Capital. Assets exclusively reveals.
The company will use the funds to speculate more resources in research into food and feed that might be constructed from carbon dioxide.
Co-founder Max Kufner said Assets that the corporate plans to roll out its first operations by the top of 2025 or early 2026 at the most recent.
Again’s technology pumps carbon dioxide that may otherwise be released into the atmosphere into bioreactors. Bacteria then convert this carbon into worthwhile products used to make plastics, paints and soaps.
The refining of petroleum to provide various chemicals is liable for 4 percent of world direct greenhouse gas emissions, or around 1.8 gigatons of carbon dioxide. This makes the petrochemical industry the third largest polluter on the planet.
COURTESY OF AGAIN
Again has raised about $100 million to this point, partly from a European Union grant and partly from enterprise capital. The company received a $10 million injection from GV, ACME Capital and Atlantic Labs to launch a Factory.
Founded in 2021, the corporate grew out of a ten-year research project on the Technical University of Denmark, Stanford and MIT. This gave Again a head start at launch as much of the training curve of technology development had already been accomplished, making it easier to construct the corporate and give attention to scaling.
The scientists involved within the research, Torbjørn Jensen and Alex Nielsen, later became co-founders of Again along with early-stage investor Kufner.
According to Dealroom, climate technology has grown 45-fold within the last decade. But with rising global temperatures and extreme weather events, there remains to be a necessity for far more.
Again’s technology helps overcome one in all the largest hurdles in climate technology – the power to scale it. One of the largest challenges facing modern climate technology corporations is that they are attempting to capture carbon dioxide from the atmosphere, put it right into a very small form and pump it back into the earth, Kufner explains.
Jensen Customs Assets that the strategy of efficient carbon capture and conversion is what sets Again apart.
“We’re basically eliminating emissions and producing a very valuable product at the same time,” he said. “But it has to be cheap, it has to be robust, it just has to work 24 hours a day, all year round.”
