糖心视频

Products made from oil aren鈥檛 cheap鈥攁s can be seen by the prices at the gas pump.

But what if instead of making products from fossil fuels and the carbon in them, they could be made from the air?

That is the promise of Berkeley, California-based , which closed a $130 million Series B led by . The company鈥檚 carbon transformation technology converts captured CO2 into products historically made from fossil fuels.

In its , the company notes research from Columbia鈥檚 SIPA Center on Global Energy Policy indicates replacing fossil fuels in the production of chemicals, materials and fuels with renewable carbon from point source or direct air capture could eliminate nearly of global greenhouse gas emissions.

Twelve already is working with companies like and to create products for the automotive, household and apparel industries.

Clean investing

Investors seem to be eyeing different clean energy technology and alternatives to fossil fuels. Last week, Boston-based closed a $198 million Series B, and earlier this week San Francisco-based closed a $750 million growth equity investment led by .

After seeing just about $2.1 billion invested into VC-backed cleantech and clean energy companies in 2020, last year saw a record $10.1 billion, . Already this year, VCs have poured about $5.5 billion into startups in both cleantech and clean energy sectors.

Founded in 2015, Twelve has raised nearly $200 million, according to Crunchbase data. The company will use the new proceeds to scale both its engineering and manufacturing abilities.

Other investors in the new round include Technology Impact Fund, , , , and . In addition, Twelve secured a Series B and strategic program investment from the .

Related reading

• Electric Hydrogen Powers Up With $198M Raise

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