Turnover Labs Secures $1.4 Million to Decarbonize Chemical Manufacturing
Turnover Labs, a pioneering startup focused on decarbonizing the chemical manufacturing industry, has announced the successful closing of a $1.4 million Pre-Seed funding round. The funding round was led by Pace Ventures and GC Ventures, with participation from Sandy Spring Climate Partners and other prominent venture capital firms.
This crucial funding will be directed towards expanding Turnover Labs’ engineering team, accelerating research and development, and scaling up its innovative technology for commercialization. The company’s vision is to build a real-world prototype capable of recycling thousands of tons of CO2 annually.
Turnover Labs leverages innovative electrolysis technology, initially developed at Columbia University, to convert carbon dioxide (CO2) emissions from chemical manufacturing into valuable chemical building blocks. By replacing petroleum feedstocks with recycled CO2, Turnover Labs aims to significantly reduce the environmental impact of the chemical industry.
“Chemical manufacturing is a major contributor to greenhouse gas emissions, and many of these emissions currently lack viable solutions for reduction or capture,” said Marissa Beatty, Founder and CEO of Turnover Labs. “Our technology offers a practical and cost-effective way for chemical companies to reduce their carbon footprint while also producing valuable products.”
According to Marius Swart, General Partner at Pace Ventures, “Turnover Labs’ approach is unique in its ability to integrate seamlessly into existing chemical manufacturing facilities. Their technology has the potential to make a significant impact on the decarbonization of the chemical industry.”
Kamel Ramdani, EVP of Innovation & Growth Platforms at PTT Global Chemical Public Company Limited (GC) and President of GC Ventures America, expressed, “We are excited to support Turnover Labs’ mission to create a more sustainable future. Their technology has the potential to not only benefit GC but also contribute to global efforts to reduce industrial emissions.”
Turnover Labs’ technology offers a promising solution to the urgent challenge of decarbonizing the chemical industry. By converting CO2 emissions into valuable products, the company is paving the way for a more sustainable and environmentally friendly future.
The core of Turnover Labs’ mission is to revolutionize the chemical industry by reducing greenhouse gas emissions through the conversion of waste carbon dioxide (CO2) into valuable chemical building blocks. Utilizing proprietary technology, the company has developed durable electrolyzers capable of withstanding the harsh conditions of industrial facilities. These electrolyzers enable the efficient conversion of impure CO2 streams directly into valuable chemicals, offering a sustainable alternative to petroleum-based feedstocks.
By seamlessly integrating their solution into existing manufacturing operations, Turnover Labs provides a cost-effective and efficient way for chemical companies to reduce their carbon footprint while continuing to produce valuable products. Their technology addresses CO2 emissions that are not suitable for other carbon capture methods, thereby driving a more sustainable and environmentally friendly future for the chemical industry.
With their recent funding and innovative technology, Turnover Labs is poised to make a significant impact in creating a more sustainable future. By focusing on decarbonizing chemical manufacturing, they lead the way in addressing one of the most pressing environmental challenges of our time.
