Dimensional Energy, a NYC-based provider of carbon utilization technology, Sustainable Aviation Fuel (SAF) production and advanced carbon emissions-derived fuels and materials, raised $20M in Series A funding.
The round was led by Envisioning Partners, with participation from United Airlines’ Sustainable Flight Fund, Microsoft’s Climate Innovation Fund, RockCreek Group’s Smart Aviation Futures fund, DSC Investment, Delek US, New York Ventures, Climate Tech Circle, and continuing support from existing investors Elemental Excelerator, Chloe Capital, and Launch New York among others.
The company intends to use the funds to achieve commercial scale and expand its portfolio of projects.
The newly raised funds will be allocated to advance its key initiatives:
1. Construction of an advanced power-to-liquid (PtL) fuels plant, utilizing emissions from the Lafarge Richmond Cement Plant in British Columbia, Canada, in partnership with Svante, a leader in carbon capture technology.
2. The continued development of commercial power-to-liquid plants globally including a project with financing from Seneca Environmental and development support from Elemental Excelerator’s Infrastructure and Community Engagement programs.
3. Introduction of Dimensional Energy’s first consumer (B2C) and business-to-business (B2B) products, including fossil-free surf wax and a cruelty-free fat alternative tailored for vegan food manufacturers.
4. Technology advancements including the evolution of Dimensional Energy’s proprietary reactor and catalyst technologies, which are being developed with funding from the Department of Energy’s ARPA-E and SETO programs, in collaboration with Oak Ridge National Laboratory and Cornell University. These innovations are field-tested at Dimensional Energy’s technology center in Tucson, Arizona.
Led by CEO Jason Salfi, Dimensional Energy specializes in carbon-to-value technology. The company has offices in Houston, TX, laboratories and advanced prototyping in Ithaca, NY, and operates a fully integrated pilot plant in Tucson, AZ. The Tucson Technology Center serves as a testing ground for scaled technology and workforce development for a growing list of commercial plants around the world. The company is a full-service technology and engineering firm that can support commercial deployments for project developers, industrial carbon emitters, and strategic partners.
FinSMEs
13/12/2023