CO2 Capture World’s First Industrial-Scale Carbon Transformation Platform to Be Deployed

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Carbon transformation company Twelve is announcing 130 million dollars in a Series B and additional funding to scale the engineering, manufacturing, and deployment of its industrial-scale carbon transformation technology for the creation of a wide range of products with a lower carbon footprint.

Twelve’s carbon transformation technology converts captured CO₂ into products historically made from fossil fuels. According to research from Columbia’s Sipa Center on Global Energy Policy, replacing fossil feedstocks in the production of chemicals, materials, and fuels with renewable carbon from point source or direct air capture could avoid nearly ten percent of global greenhouse gas emissions. The company is currently transforming emissions into products for the automotive, household and apparel industries, as well as for government entities and global technology companies, by replacing petrochemicals and fossil-based transportation fuels with CO₂ Made materials and carbon-neutral fuels like E-Jet.

Twelve’s partners include Mercedes-Benz, Procter & Gamble, Shopify, the U.S. National Aeronautics and Space Administration (Nasa), and the U.S. Air Force, all of which use Twelve’s breakthrough carbon transformation technology to reduce emissions and create CO₂ Made products.

“As more companies and organizations adopt carbon-neutrality targets, they urgently need technologies like Twelve’s to rapidly green supply chains and corporate travel to reduce emissions at scale,” said Zachary Bogue, Managing Partner, DCVC. The company leads a 130 million dollar financing to scale up Twelve’s technology. “Since leading Twelve’s seed round in 2018, we’ve only become more confident that their technology offers businesses a critical solution for not just offsetting emissions, but eliminating them.”

The new funding follows Twelve’s first commercial products, a line of CO₂ Made sunglasses with sustainable fashion brand Pangaia, and carbon-neutral sustainable aviation fuel (SAF), E-Jet. Twelve was recently recognized by Fast Company as the world’s Number 1 most innovative energy company of 2022 and as a Bloomberg NEF Pioneer in the Decarbonizing Aviation category.

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DCVC led Twelve’s Series B financing, with participation from Series A lead investors Capricorn Technology Impact Fund and Carbon Direct Capital Management. Breakout Ventures, Munich Re Ventures, Elementum Ventures, and Microsoft Climate Innovation Fund also participated. In addition, Twelve secured a Series B and strategic program investment from the Chan Zuckerberg Initiative (CZI).

To help drive the industrial scaleup, the company just announced additions of key industry veterans to its leadership team: Anne Roby, Independent Board Director and former Linde executive; David Frank, Chief Productization Officer and former Cummins director; and Ram Ramprasad, Chief Commercial Officer and former Linde executive.

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