In Vycarb's words
“With the impacts of climate change increasing, companies are under pressure to reduce carbon emissions. This requires carbon capture and storage (CSS), but incumbent solutions require capturing their CO₂ and transporting it to specific geologies for underground storage - a risky, expensive, energy-intensive and geographically-limited option. Vycarb’s technology provides a low-cost and safe alternative by converting CO₂ directly to bicarbonate, mimicking the ocean’s natural carbon storage chemistry. Leveraging their novel water-based chemical process and real-time sensing technology, Vycarb’s hardware-software system enables on-site, instant, fully-measured CSS in a closed system, ensuring permanence, transparency and water safety before release into natural waters. Vycarb delivers a scalable alternative to conventional CCS, applicable globally across industries such as energy, cement, steel and bioenergy.”
In FIGR's words
“FIGR invests in early-stage businesses redefining life’s everyday choices – which means we’re usually backing consumer businesses. The beauty of being part of a family office is that things don’t have to be set in stone. We are delighted to have made our first investment outside of the consumer space, into a business we believe has the power to drive large-scale environmental change. We believe Brooklyn-based Vycarb could transform how carbon is sequestered and measured, and we're proud to have played a small part in Vycarb’s $5 million seed investment round, led by Twynam, with participation from Shell, MOL Switch, Hatch Blue, Clocktower Ventures, Idemitsu and SGInnovate.”
