Cemvita plant raises additional venture capital for industrial decarbonization | Texas
HOUSTON, October 27, 2021 / PRNewswire / – Cemvita Factory (“Cemvita”), the leading provider of carbon-negative synthetic biology solutions for the energy and mining industries, today announced the final completion of its series cycle A and the addition of several new top investors.
Energy Capital Ventures (ECV) has joined 8090 Partners to lead the close of Cemvita’s Series A funding round. ECV is the only early stage venture capital fund focused on ESG imperatives and the digital transformation of the natural gas distribution industry. The investment cycle also includes strategic institutional investors, Mitsubishi Heavy Industries and Sumitomo Corporation of Americas, as well as Oxy Low Carbon Ventures. The round of funding marks the total raised to date for the company at just over $ 10 million.
The nascent but growing field of synthetic biology applies the tools of engineering and computer science to biology. It has been used for a decade to optimize the work of enzymes and cells with the aim, for example, of speeding up the manufacture of Covid-19 vaccines. Cemvita is among the first to use this technology to support heavy industry in the fight against climate change.
With a growing portfolio of microorganisms that capture and convert CO2 in chemicals and alternative fuels, Cemvita helps oil and gas companies decarbonize while transforming their by-products into valuable raw materials, a crucial step in building a circular carbon economy. The technology is also being used in climate-smart mining to reduce the environmental footprint of mining while meeting growing demand for key metals. Ambitious climate action places significant demand on mining, according to the World Bank. Lithium production, for example, is expected to increase by around 500% by 2050.
“What Moji and Tara have built with Cemvita is extraordinarily impressive. Their platform of bioengineered microbes will have a revolutionary impact on the net zero emissions journey of the natural gas industry.” said Energy Capital Ventures Managing General Partner, Vic Pascucci III, who will join the Board of Directors of Cemvita.
“One example among many: the company’s non-electrolysis method of generating biohydrogen and biomethane, clean and carbon-free fuels, will have an incredible impact on carbon reduction through capture and use. carbon, âcontinued Pascucci.
âOur strategic investment in Cemvita’s CO2 utilization solutions goes to the very heart of what we do within the MHI group; channel thinking towards solutions that move the world forward, âsaid Yoshihiro Shiraiwa, President and CEO of Mitsubishi Heavy Industries America. “We look forward to developing our mutually beneficial relationship for years to come to create an ecosystem of CO2 solutions.”
âIdentifying premonitory solutions to the challenges of the world is at the heart of our mission. This partnership will produce innovations that will help our company and our customers achieve ambitious sustainability goals while creating new opportunities, âsaid Toshiya Kitamura, senior vice president and general manager of the chemicals and electronics group of Sumitomo Corporation of Americas.
âA new industrial revolution is taking hold, catalyzed by the need for cost-effective solutions for decarbonization. To that end, Cemvita Factory is on track to unlock billions of dollars in value by reimagining the expensive and dirty processes behind some of the high emission industries; while recycling huge amounts of CO2 in the process. Armed with cutting edge technology, real products and increased production capacity to serve its growing list of Fortune 100 customers, the future of Cemvita Factory and the promise of synthetic biology is shining brighter than ever. ” Says Rayyan Islam, Partner at 8090 Partenaires.
âWe are delighted that Cemvita is supported by leading venture capital firms and strong business partners,â said the co-founder and CEO of Cemvita Factory. Moji Karimi. “This capital will accelerate our growth and help achieve a bright future for Houston not only the world capital of oil and gas, but the world capital of energy transition. “
This round of funding represents further validation from several industry verticals and the investment community of the power and potential of the Cemvita platform.
About the Cemvita factory
Cemvita Factory, Inc.’s mission is to reverse climate change by leveraging synthetic biology. This is done through biomimicry of natural processes to sustainably produce chemicals and polymers. Additionally, Cemvita’s synthetic biology platform is used to develop and optimize low carbon bioprocesses for heavy industry such as mining, oil and gas. Visit www.cemvitafactory.com for more information.
About Energy Capital Ventures
Energy Capital Ventures (ECV) is a strategic venture capital firm focused on ESG imperatives, clean energy solutions and the digital transformation of the natural gas utilities industry. ECV specializes in decarbonisation, renewable natural gas and other sustainable development solutions for local natural gas distribution companies. Based at Chicago with a presence in new York, ECV takes a customer-centric ESG perspective on innovation for industry as it faces impending paradigm shifts. Learn more at www.energycapitalventures.com.
About the MHI Group
The Mitsubishi Heavy Industries (MHI) group is one of the world’s leading industrial groups, covering energy, logistics and infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to provide innovative and integrated solutions that help achieve a carbon neutral world, improve quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our ideas and stories at www.spectra.mhi.com
About Sumitomo Corporation of Americas
Founded in 1952 and based in New York City, Sumitomo Corporation of Americas (SCOA) has eight offices in major US cities. SCOA is the largest subsidiary of Sumitomo Corporation, one of the world’s leading traders of goods and services. As an integrated business enterprise, the company has grown into a major organizer of multinational projects, a shipper of ideas, a major international investor and financier, and a powerful force for the distribution of global products and communications through a network of offices. in the whole world. Its main business units include tubular products, environment and infrastructure, steel and non-ferrous metals, transportation and construction systems, chemicals and electronics, media and IOT applications, real estate, mineral resources and energy, and food. For more information, visit www.sumitomocorp.com.
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SOURCE Cemvita factory