ImpactAlpha, April 25 — New York-based Air Company uses only air, water and sunlight to transform captured carbon into carbon-negative spirits and other products. It’s among a wave of climate tech startups that are using captured carbon in consumer products such as hand sanitizer, perfume, handbags, watches and jewelry.
Air Company, launched in 2019, uses waste and atmospheric carbon dioxide “to displace fossil fuels at-scale,” said Stafford Sheehan, who developed the technology to convert carbon into alcohols. The company was a finalist for last year’s XPRIZE for turning carbon into high-value products (see below for this year’s carbon removal XPRIZE finalists).
The company raised $30 million in a Series A round led by Carbon Direct Capital Management, with participation from Toyota Ventures, JetBlue Technology Ventures and others.
Alberta-based Carbon Upcycling Technologies raised $6 million to produce carbon-enhanced additives mainly for the concrete industry. The company says its carbon-embedded cement and concrete additive can reduce emissions in concrete production by 30%.
The round was backed by impact venture funds Clean Energy Ventures and Amplify Capital.