Austin-based Skyonic Corp. received $9 million of a $35 million investment for a carbon capture and utilization plant in the U.S.
Investors included Northwater Capital Management, ConocoPhillips, PVS Chemicals, Carl Berg and Zachry Corp. in the Series C funding.
The company plans to use the fund to build the plant this summer and for research and development and company operations.
“Skyonic’s green carbon chemistry technologies present a cost-effective solution to a problem that many industries have struggled with for years: emissions,” Frank Egan, Managing Director at Northwater, said in a statement.
“Skyonic’s electrolytic carbon capture technology, SkyMine®, will selectively remove CO2, acid gases, and heavy metals emitted from the cement plant’s flue gas streams and recycle it into hydrochloric acid, sodium bicarbonate and other byproducts,” according to the company. The City of San Antonio will provide utilities for the plant.