Carbon transformation company Twelve announced a USD130mn financing aimed at supporting the acceleration of the engineering, manufacturing, and deployment of its technology to create products from captured CO2. Twelve makes chemicals, materials, and fuels from carbon, instead of fossil fuels, at an industrial scale, for the automotive, household, and apparel industries, and for transportation fuels. The company’s carbon transformation technology converts captured CO2 into products with water and renewable energy as inputs and producing only water and oxygen outputs. According to the company, replacing fossil feedstock from the production of chemicals, materials, and fuels with renewable carbon from point source or direct air capture could avoid about 10% of global GHG emissions.

Source: ESGToday