The New York company Dimensional Energy, a leader in cutting-edge technologies for carbon utilization, the production of sustainable aviation fuels (SAF) and creating advanced fuels and materials from carbon emissions, has recently raised $20 million in a Series A funding round to support its technology for convert CO2 emissions into chemicals.
Envisioning Partners, a prominent social impact-focused venture capital fund based in Korea, led the round and major industry players such as United Airlines and Microsoft participated.
The funds raised by Dimensional Energy will go towards the implementation of several key initiatives, including the construction of the first advanced fuels plant with power-to-liquid (PtL) technology at a cement factory in British Columbia, in collaboration with Svante. Additionally, the company has plans to develop commercial power-to-liquid plants globally and to launch direct-to-consumer and business services.
These services will include products such as eco-friendly surf wax and cruelty-free fat alternatives for vegan food manufacturing companies.
Additionally, the company intends to use funding from the Department of Energy’s ARPA-E and SETO programs to drive technological advancements, focusing on improving its proprietary reactor and catalyst technologies in collaboration with Oak Ridge National Laboratory. and Cornell University.
Dimensional Energy and its intention to convert CO2 emissions
Dimensional Energy’s cutting-edge technology has the ability to convert CO2 emissions into sustainable aviation fuels , renewable diesel and a base synthetic paraffin, which can be refined to produce more than 6,000 everyday products. According to a life cycle analysis carried out by GREET, this technology can significantly contribute to the reduction of emissions throughout the life cycle of hydrocarbon fuels, reaching more than 93%.
It should be noted that Dimensional Energy’s methodology can be seamlessly integrated into existing industrial facilities, offering a cost-effective way to use carbon. This makes it an innovative solution to address the challenge of global emissions.
By transforming CO2 into everyday fuels and products that would otherwise rely on newly extracted oil and gas, Dimensional Energy creates a unique opportunity for the expansion of carbon capture by providing in situ utilization of these emissions and decarbonizing industries. that present significant challenges in this regard.
“As a technology company, we work with third parties to verify our performance, carbon intensity and full life cycle analysis. The same should be true when it comes to other environmental and social equity claims. B Corporation status provides a framework for companies to continually improve positive impact for all stakeholders while maintaining exceptional financial performance”said Jason Salfi, CEO of Dimensional Energy.
For his part, Brandon Middaugh, senior director of the Microsoft Climate Innovation Fund, said: “The world needs rapid and immediate decarbonization across all sectors, and Dimensional Energy shows great promise as a cleaner, lower-carbon aviation solution, along with industrial emissions reductions.“.
Don’t miss any of our posts and follow us on social media!
Inspenet.com YouTube LinkedIn Facebook Instagram
Source: inceptivemind.com
Loading...
