Cemvita Factory, a Houston, TX-based carbon-negative company, received an equity investment from Oxy Low Carbon Ventures.
The amount of the deal was not disclosed.
The company intends to use the funds for the commercialization of new bio-engineered pathways that use CO2 as the feedstock for sustainable production of intermediate chemicals and polymers.
Led by Moji Karimi, co-founder and CEO, Cemvita Factory is a biotech startup that is engineering a portfolio of CO2 conversion microorganisms. Its technology includes a CO2 utilization platform that mimics photosynthesis and other natural processes to produce industrial chemicals and polymers for energy sustainability, resulting in a carbon-negative impact.
CO2 conversion by the company’s biomanufacturing platform happens under ambient temperature and pressure, mitigating the emissions resulting from traditionally energy-intensive chemical and catalytic conversions. The same technology is able to turn polymer production into a low carbon activity by utilizing CO2 as a feedstock.
Cemvita Factory is currently working with a number of clients in the energy industry to help them use CO2 as a resource to lower their carbon footprint. In the future, the company wants to expand its technology portfolio by integration of services across carbon capture, utilization, and storage.
FinSMEs
15/08/2019