Low-carbon transition | July 8, 2022

ImpactAlpha Deal Spotlight: Carbon capture

Amy Cortese
ImpactAlpha Editor

Amy Cortese

ImpactAlpha, July 8 — The aftershocks of the Supreme Court decision limiting the Environmental Protection Agency’s powers to regulate greenhouse gasses are still playing out. EPA must now shift its focus from systemic approaches to those that target individual power plants.

One potential beneficiary: the burgeoning carbon capture field. If polluters are forced to capture carbon before it is released – as many think EPA may require – then what to do with all that CO2?

Berkeley, Calif.-based Twelve aims to turn captured carbon into feedstocks for eyeglasses, apparel, jet fuel and other products that would typically use petroleum as inputs. The startup (formerly Opus12) counts Mercedes-Benz, Procter & Gamble, and the U.S. Air Force among its clients.

This week, Twelve raked in $130 million from investors including DCVC, Microsoft Climate Innovation Fund, Breakout Ventures, and Capricorn Technology Impact Fund. “This fresh funding ensures we can reach industrial scale to help new and existing partners achieve rapid emissions-reduction,” said Twelve’s Nicholas Flanders.