Carbon Engineering Ltd. (CE) has raised $11m to expandits existing pilot plant and design its first commercial AIR TO FUELS™ plant, which will be the first in the world to commercially sell transportation fuels synthesised from air and clean electricity.
The $11m convertible loan bridge financing round was raised from both existing CE stakeholders, including board members and employees, and from new investors. This financing was concluded in anticipation of an equity financing, which is expected to be completed as soon as possible.
“We’ve seen a very high level of interest and have had to ask many interested investors to wait for future investment rounds,” said Steve Oldham, CEO of Carbon Engineering. “The response we’ve seen signals a big step forward not only for CE, but for the wider carbon capture and advanced fuels industry, as the scope and size of the business opportunity these technologies offer becomes clear.
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