A Rice University spinout has raised $3 million in seed funding to commercialize a process for turning captured carbon into sustainable materials.
DexMat has developed a method to “lock” captured carbon into a material structure as a form of long-term carbon storage. That material, which DexMat is marketing as Galvorn, can be used in place of carbon-intensive materials such as steel, aluminum and copper.
Shell Ventures led the $3 million funding round, with participation by Overture Ventures, Climate Avengers and other investors.
“The world’s net zero future is entirely dependent on electrifying everything and decarbonizing the built environment,” says Shomik Dutta, co-founder and managing partner at Overture Ventures. “Metals like copper and steel sit at the heart of these trillion-dollar markets, and DexMat’s technology promises carbon-negative, lighter, and stronger versions of what we currently mine and melt. Companies like this can help cement America’s leadership in the most important transition of our lifetimes.”
Source: Innovation Map
