CO2-to-chemicals company Liquid Light raises $15M Series B financing; process scale-up and application validation
11 September 2014
Start-up Liquid Light, a developer of process technology to make major chemicals from low-cost, globally-abundant carbon dioxide (earlier post), has closed a $15-million Series B financing. New investors include Sustainable Conversion Ventures, which focuses on renewable fuels and chemicals investments. Existing investors VantagePoint Capital Partners, BP Ventures, Chrysalix Energy Venture Capital, and Osage University Partners also participated in this round. The financing was completed at a significant increase in company valuation.
Liquid Light’s core technology is centered on low-energy catalytic electrochemistry to convert CO2 to multi-carbon chemicals, combined with hydrogenation and purification operations. By adjusting the design of the catalyst, the technology can produce a range of commercially-important multi-carbon chemicals. Additionally, by using co-feedstocks along with carbon dioxide, a plant built with Liquid Light’s technology can produce multiple products simultaneously.
The technology is backed by more than 100 patents and applications, and extends to multiple chemicals with large existing markets, including ethylene glycol, propylene, isopropanol, methyl-methacrylate and acetic acid.
Customers can benefit from a lower cost of production, while harnessing their current waste stream; reduce their dependence on cyclically-priced petroleum feedstocks; and can reduce their carbon footprint.
Liquid Light’s first process is for the production of ethylene glycol (MEG), which is used to make PET-based plastic bottles, with a $27-billion annual market. Results consistent with cost-advantaged production have been validated at lab scale for key parts of the process; and the process scales in a predictable manner, akin to world-scale chlor-alkali plants.
The new financing will be used to complete process development at pilot scale, providing the information needed for further scale up to a tons-per-day plant.
Can we make gasoline with empty plastic bottles ? why are they not making gasoline instead of ethylene-glycol , i need badly gasoline and im tired of buying costly polluting gasoline made with petrol refining that is a net co2 emitter in big quantity. «i have to rely on very mafia compagnies that make gasoline like petro-canada, esso, shell, ultramar, petrol goyer, super gaz, harnois, etc. When i go to u.s.a i have to rely to exxon, mobil, citgo, bp, karl marx, al capone, hugo chavez, fidel castro, sheick, etc.
Posted by: And Bri | 11 September 2014 at 01:59 PM