PXR advises Carbon One on $5 million Seed financing round
PXR has advised Berlin based climate tech company Carbon One (C1), foundet inter alia by serial entrepreneur Christian Vollmann and renowned chemist Dr. Marek Checinski, on its seed financing. The $5 million funding round was lead by Planet A Ventures and Paua Ventures, who invested alongside numerous well known industry managers (Dr. Jürgen Hambrecht, formerly CEO and chairman of the supervisory board of BASF, Prof. Wolfgang Reitzle, most recently chairman of the supervisory board of Linde, and Jim Hagemann Snabe, chairman of the supervisory board of Siemens) and angel investors.
C1 has developed a fundamentally new proprietary homogeneous catalysis for the production of methanol. The C1 process is much more selective, productive and efficient than the heterogeneous catalysis currently in use, which dates back to a patent from 1921. It works at significantly lower pressure and temperature, allows for more flexible operations and scales better. There are cost advantages in terms of both investment and operating costs.
The first chemical process that C1 has developed using its technology platform is a much more efficient and sustainable process for producing methanol. The alcohol has been an important basic material in the chemical industry since the beginning of industrialization. C1 technology allows non-fossil methanol to be produced from excess biomass, waste plastic, or CO2 and H2. The key is a highly effective catalyst that makes the necessary chemical reaction much more efficient. It makes green methanol economical after all.
PXR is a full-service law firm specializing in advising companies, entrepreneurs and investors in the technology sector. PXR’s clients include numerous tech companies, private equity and venture capital investors, and entrepreneurs. PXR’s core areas of expertise include tax and corporate law, employment law, and IP/IT and data privacy law.