Oxylus Energy, a New Haven, CT-based developer of novel carbon utilization technology for the production of e-fuels, raised $4.5M in Seed funding.
The round was led by Toyota Ventures and Azolla Ventures with participation from Earth Foundry and Connecticut Innovations.
The company intends to use the funds to accelerate its technology development, prototype testing and pilot deployment.
Led by CTO Conor Rooney, CEO Perry Bakas, and COO Harrison Meyer, Oxylus Energy is a climate technology company developing solutions for low-temperature and low-pressure conversion of carbon dioxide into green methanol. It converts CO2 into carbon-neutral fuels and chemical feedstocks. Its electrolyzers are designed to be modular and enable onsite carbon utilization and fuel production.
Carbon utilization in green methanol can provide drop-in fuels and chemical feedstocks for the sectors of shipping, aviation, and petrochemicals.
FinSMEs
03/09/2024