Twelve, the carbon transformation company, has announced $130 million (€124 million) in funding to turn CO2 into chemicals, fuels and materials conventionally made from petrochemicals.
Twelve’s carbon transformation technology converts captured CO2 into products historically made from fossil fuels.
According to research from Columbia’s SIPA Center on Global Energy Policy, replacing fossil feedstocks in the production of chemicals, materials, and fuels with renewable carbon from point source or direct air capture could avoid nearly 10 percent of global greenhouse gas emissions.
Twelve is currently transforming emissions into products for the automotive, household and apparel industries, as well as for government entities and global technology companies, by replacing petrochemicals and fossil-based transportation fuels with CO2Made® materials and 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 Twelve co-founder and CEO Nicholas Flanders. “This fresh funding ensures we can reach industrial scale to help new and existing partners achieve rapid emissions-reduction.”
Twelve’s partners include Mercedes-Benz, Procter & Gamble, Shopify, the U.S. National Aeronautics and Space Administration (NASA), and the U.S. Air Force, all of which use Twelve’s breakthrough carbon transformation technology to reduce emissions and create CO2Made products.
“As more companies and organizations adopt carbon-neutrality targets, they urgently need technologies like Twelve’s to rapidly green supply chains and corporate travel to reduce emissions at scale,” said Zachary Bogue, Managing Partner, DCVC. “Since leading Twelve’s seed round in 2018, we’ve only become more confident that their technology offers businesses a critical solution for not just offsetting emissions, but eliminating them.”
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