Biotech Company SecondCircle Turns CO2 into Bankable Commodities
Copenhagen-based biotech company SecondCircle claims it can capture CO2 emissions from industrial emitters and converts them into chemical compounds that are sold back to industry.
The company claims it uses synthetic biology to create biocatalysts. These turn the CO2 into chemical compounds.
SecondCircle has secured €1.2 million in a pre-seed round led by Berlin-based early-stage investor Atlantic Labs. The firm has previously won a staggering €43 million in EU funding to scale up. Their “PyroCO2” project aims to demonstrate large-scale conversion of industrial carbon emissions into value-added chemicals and materials, reported Tech Crunch.
Torbjørn Ølshøj Jensen, co-founder and CEO of SecondCircle said in a statement: “We strongly believe that we can only solve the global CO2 problem by building new approaches for sustainable value creation from inevitable emissions.”
The company, which spun out of the Biosustain NNF Center for Biosustainability at the Danish Technical University, was founded in 2020 and is run by the founding team Alex Toftgaard Nielsen, Stephanie Redl and Torbjørn Ølshøj Jensen.