Cleantech Play Skyonic Gets $9M of $35M Planned Round
29th June 2012 · 0 Comments
Skyonic Corporation finalized the first $9 million portion of a committed $35 million investment into the company, intended to pilot a first-of-its-kind carbon capture and utilization plant in the U.S. that will demonstrate the viability of capturing and reusing carbon dioxide (CO2) as a profitable commercial-scale venture. Northwater Capital Management, ConocoPhillips COP +1.28% , BP BP +0.40% , and PVS Chemicals are participating in the Series C funding, joining existing investors Carl Berg and Zachry Corporation. These funds will be used to support construction costs for the plant’s groundbreaking this summer, advancement of its global IP portfolio of green carbon chemistry solutions, and other R&D and operations purposes.