Danish startup secures $43 million to build full-scale decarbonisation plants
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Again, a Danish startup, announced that it has secured $43 million in a Series A financing round to facilitate its goal of decarbonising and turning CO2 into a valuable product.
Again’s fundamental goal is to transform the petrochemical industry through carbon emissions reduction and the promotion of sustainable practices.
This round of funding will support Again in advancing and expanding its carbon utilization technology and accelerating the global accessibility of the company’s decarbonisation technology.
The startup’s process entails harnessing waste CO2 and employing a method where the gas is introduced directly into bioreactors, where the CO2 is broken down.
Also read: Sam Altman-backed carbon storage startup receives funding worth $37 million
This approach yields emission-free, high-quality chemicals through fermentation with hydrogen, similar to the brewing process for beer. These products are made available to customers at competitive prices.
According to the announcement, HV Capital and GV (Google Ventures) led the funding round, which also included KOMPAS VC, EIFO, and CSC Leasing, as well as the startup’s investors, ACME Capital and Atlantic Labs.
The startup’s innovative technology is operational at Again’s first carbon utilization facility in Denmark. Here, CO2 is transformed into acetate, a critical component found in adhesives, solvents, plastics, textiles, and cosmetics.
This process has resulted in a substantial reduction in emissions, up to 80%.
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