Liquid Light, a Monmouth Junction, NJ-based company that develops and licenses process technology to make major chemicals from carbon dioxide (CO2), closed a $15m Series B financing.
Backers included new investors Sustainable Conversion Ventures, which focuses on renewable fuels and chemicals investments, and existing investors VantagePoint Capital Partners, BP Ventures, Chrysalix Energy Venture Capital, and Osage University Partners.
The company intends to use the funds to complete process development at pilot scale.
Emerged from stealth six months ago and led by Kyle Teamey, CEO, Liquid Light develops and licenses process technology (backed by more than 100 patents and applications) to make major chemicals from low-cost, globally-abundant carbon dioxide (CO2); Its first process is ethylene glycol (MEG), used to make PET-based plastic bottles, and with possibilities to extend to multiple chemicals with large existing markets, including ethylene glycol, propylene, isopropanol, methyl-methacrylate and acetic acid.
FinSMEs
11/09/2014