Twelve raises $130 million to reduce emissions

Jwelve, the carbon transformation company, announces $130 million in 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 low carbon footprint products.

Twelve’s carbon conversion technology converts captured CO2 into products historically made from fossil fuels. According to research by Colombia SIPA Center on Global Energy PolicyrReplacing fossil feedstocks in the production of chemicals, materials and fuels with renewable carbon from a point source or direct capture from the air could avoid nearly 10 percent global greenhouse gas emissions. Twelve is currently transforming emissions into products for the automotive, home and apparel industries, as well as for government entities and global technology companies, replacing petrochemicals and fossil fuels for transport with CO2Made® carbon neutral materials and fuels like E-Jet.

“Businesses and governments no longer need to depend on fossil fuels for the carbon that goes into everything from clothing and cleaning products to electronics and jet fuel,” said Nicholas Flanders, co-founder and CEO of Twelve. “This new funding allows us to achieve industrial scale to help new and existing partners rapidly reduce their emissions. »

Twelve’s partners include Mercedes-Benz, Procter & Gamble, Shopify, the United States National Aeronautics and Space Administration (NASA) and the United States Air Force, all of which use Twelve’s revolutionary carbon transformation technology to reduce broadcasts and create Products made in CO2.

As more businesses and organizations adopt carbon neutral goals, they urgently need technologies like Twelve to rapidly green supply chains and business travel to reduce emissions at large. ladder.,” said Zachary Bogue, Managing Partner, DCVC. “Since leading Twelve’s seed round in 2018, we’ve grown more confident that their technology offers businesses an essential solution to not only offset emissions, but eliminate them.”

The new funding follows Twelve’s first commercial products, a range of CO2Made sunglasses with sustainable fashion brand PANGAIA, and sustainable carbon neutral 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 BloombergNEF Pioneer in the Decarbonizing Aviation category.

“Providing consumers with sustainable, low-carbon products will require scaling innovative solutions such as Twelve’s carbon transformation technology.” said Todd Cline, senior director of sustainability at Procter & Gamble Fabric Care. “We are pleased to see that Twelve has the opportunity to expand its impact across a wide variety of sustainable consumer products through its technology.”

“Twelve has the potential to disrupt petrochemical supply chains by creating a wide range of materials from carbon emissions instead of fossil fuels,” said Udo Gayer, head of new production planning business at Mercedes. -Benz Cars. “The potential impact of their technology is immense, and I’m happy to see them receiving the funding to continue to evolve their technology.”

DCVC led Twelve’s Series B funding, with participation from Series A lead investors Capricorn Tech Impact Fund and Direct carbon capital management. Escape Companies, Munich Re Ventures, Elementum Venturesand Microsoft Climate Innovation Fund also participated. In addition, Twelve secured a Series B investment and strategic program from the Chan Zuckerberg Initiative (CZI).

“Carbon transformation has the potential to transform CO2 of a stream of harmful waste into useful products for the global economy”, said Jonathan Goldberg, CEO of Carbon Direct. “With the costs of carbon capture, renewables and electrolyzers continuing to drop, Twelve’s technology is set to play a crucial role in decarbonizing some of the hardest-to-reduce industries.”

To help drive Twelve’s industrial scale, the company just announced the addition of key industry veterans to its leadership team: Anne Roby, independent director and former Linde executive; David Frank, Production Manager and former director of Cummins; and Ram Ramprasad, Commercial Manager and former Linde executive.

Twelve is currently taking pre-orders for CO2Made and E-Jet materials. For more information on the process, products and partnerships, and opportunities to join the growing Twelve team, visit www.douze.co.

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About the Chan Zuckerberg Initiative

The Chan Zuckerberg Initiative was founded in 2015 to help solve some of society’s toughest challenges – from eradicating disease and improving education to meeting the needs of our local communities. Our mission is to build a more inclusive, fair and healthy future for all. For more information, please visit www.chanzuckerberg.com.

About twelve

Twelve is the carbon transformation company, a new type of chemical company built for the climate age. We make essential products from air, not oil. Our breakthrough technology eliminates emissions by converting CO2 into essential chemicals, materials and fuels that today are made from fossil fuels. We call it carbon transformation, and it fundamentally changes how we can fight climate change, reduce emissions, and reverse the carbon imbalance. Reinventing what it means to be a chemical company, we are on a mission to create a climate-positive world and a fossil-free future through the power of chemistry. Learn more about www.douze.co.

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