NYC-based Dimensional Energy secures $20M in series A round funding. In addition, the climate tech company announces their filing of the Delaware Public Benefit Corporation Charter, the first step in becoming a certified B Corporation.
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Dimensional Energy CEO Jason Salfi said, “As a technology company, we work with third parties to verify our performance, carbon intensity, and full life cycle analysis. The same needs to be true when it comes to other environmental and social equity claims. B Corporation status provides a framework for companies to continually improve positive impact for all stakeholders while maintaining exceptional financial performance,”.
The funding round was led by Envisioning Partners, a prominent Korea-based impact venture capital fund with a strong global focus on climate investing, with strategic participation from United Airlines.
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Sustainable Flight Fund, Microsoft’s Climate Innovation Fund, RockCreek Group’s Smart Aviation Futures fund, DSC Investment, Delek US, Empire State Development, Climate Tech Circle, and continuing support from existing investors New Climate Ventures, Elemental Excelerator, Chloe Capital, and Launch New York among others.
Yong Hyun Kim, Managing Partner of Envisioning Partners said, “We are excited to be supporting Dimensional Energy, a clear leader in power-to-liquid sustainable aviation fuel production which is much needed in decarbonizing a hard to abate industry like aviation. Dimensional Energy’s mix of proven large-scale technology, proprietary catalyst technology and project development capabilities positions the company very well for fast scale up globally,”.
The substantial Series A round funding, combined with committed third-party project financing, positions Dimensional Energy for significant growth, enabling the company to rapidly achieve commercial scale and expand its portfolio of high-value, financially attractive projects.
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Brandon Middaugh, senior director, Climate Innovation Fund, Microsoft said, “The world needs immediate and rapid decarbonization across all sectors, and Dimensional Energy shows great promise as a cleaner and lower carbon aviation solution alongside reductions in industrial emissions, Microsoft has been an early adopter of sustainable aviation fuel and sees this market as critical for global decarbonization, which is why Microsoft’s Climate Innovation Fund is supporting Dimensional Energy’s work as a direct equity investor.”
Dimensional Energy’s cutting-edge technology transforms carbon dioxide emissions into sustainable aviation fuel (SAF), renewable diesel, and a base synthetic paraffin that can be refined into over 6,000 everyday products.
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Utilizing carbon emissions and renewable energy reduces lifecycle emissions for hydrocarbon fuels by over 93%, according to a GREET Life Cycle Analysis (LCA) of Dimensional’s process.
Founder & CEO of Elemental Excelerator Dawn Lippert said. “Earlier this summer, we made a strategic investment of development capital into Dimensional Energy because we saw the potential of their upstate NY project to deliver replicable decarbonization technology while engaging the local community in workforce expansion. We are delighted that this catalytic investment, which we coupled with development support services as well as customized community engagement coaching, has proven a successful bridge to Dimensional’s next growth spurt, With the close of this round, Dimensional Energy is poised for significant growth and impact.”
United Airlines Ventures Managing Director Andrew Chang said, “Dimensional Energy has made remarkable progress since our initial investment and 300 million gallon offtake agreement last year, including the launch of its Tucson Technology Center pilot plant, There’s no question that building the SAF industry from the ground up will take time and capital, but it’s innovative companies like Dimensional that are leading the transition to a more sustainable future. That’s why we have made a second investment and plan to continue to support Dimensional’s efforts to scale its operation to help create the SAF that our airline needs.”
Justin Heyman, Managing Director at RockCreek and leader of the Smart Aviation Futures team said, “Dimensional Energy particularly stood out to us for their differentiated technology, exceptional team, and significant progress to date towards producing SAF and other industrial products from CO2, This technology can significantly reduce the environmental footprint of the airline industry.”
About Dimensional Energy
Dimensional Energy is a global leader in carbon-to-value technology. The company has offices in Houston, TX, laboratories and advanced prototyping in Ithaca, NY, and operates a fully integrated pilot plant in Tucson, AZ.
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