Danish Climate Tech Startup Again Launches Groundbreaking Production Site for CO?-Based Chemicals and Announces $10 million Seed Round
28.11.2023 - 13:20:09| Issuer: / Key word(s): Financing/Expansion 28.11.2023 / 13:20 CET/CEST The issuer is solely responsible for the content of this announcement. Again’s first-of-a-kind (FOAK) biomanufacturing site turns up to 1 ton of CO2 per day into chemicals using natural, gas-eating bacteria $10 million seed financing from ACME, GV (Google Ventures), and Atlantic Labs complements a €43 million EU grant to scale up Again’s process Industrial value chains targeted by Again account for about one quarter of the world’s energy system CO? emissions, according to International Energy Agency data The company harnesses natural, gas-eating bacteria to convert waste carbon dioxide (CO?) into a range of sustainable chemical products. Again was spun out of the Danish Technical University in 2021 to turn a decade of research into industrial applications, and is now introducing its technology on a global scale. Launching the carbon utilization plant marks a milestone in Again’s mission to build sustainable industrial value chains using biology. Among energy intensive industries, the chemical industry is one of the most challenging to defossilize due its dependence on carbon as a building block, while other hard-to-abate sectors like steel or cement lack affordable options to tackle unavoidable carbon emissions. Direct industrial emissions account for about one quarter of the world’s energy system CO? emissions. Again’s novel biomanufacturing process collects these unavoidable carbon outputs from industry at the source, reusing them to manufacture sustainable chemicals.„We’ve created a simple, energy efficient process that supplies the chemical products demanded by industry, without the negative environmental impact." Torbjørn Jensen, CEO Again’s new facility captures up to 1 ton of CO? per day and converts the greenhouse gas into acetate and acetic acid, important base chemicals for adhesives, solvents, plastics, textiles, and cosmetics with a high emission footprint. Compared to existing production, the company’s novel process prevents up to three tons of emissions per ton of product, enabling the production of carbon negative chemicals. Again achieves this by replacing fossil fuels with CO? as feedstock, and avoiding the high process emissions of existing chemical production through biomanufacturing. With the first industrial scale-up now complete, Again is developing larger production sites across Europe and North America. “In a global market where emissions are measured in gigatons, we’ve created a simple, energy efficient process that creates the chemical products demanded by industry, without the negative environmental impact and at competitive prices,” explains Dr. Torbjørn Ølshøj Jensen, co-founder and CEO of Again. “With our biomanufacturing plant online, we are leading the global transition to producing chemicals directly from CO? through biology. We have proven demand from customers who are eager to defossilize their value chains using our products.” The idea to reuse CO? as feedstock for chemicals has not yet been widely adopted due to previous technologies being prohibitively energy intensive and expensive. Again’s biomanufacturing process represents a shift in this paradigm, as it eliminates the need for energy- and cost-intensive separation and purification of the CO?. “Again is the world’s most affordable and flexible carbon capture solution”, said Max Kufner, co-founder and COO. “We are building a solution that has no operating costs for our clients." „At Again we are building a solution that offers Carbon Capture with no operating costs for our clients." Max Kufner, COO About Again Again is a Danish climate tech startup founded in 2021, with offices in Copenhagen and Berlin and an international team of 30 people. The company was spun out of the Danish Technical University in 2021 to turn a decade of research into industrial applications and is now introducing its technology on a global scale. Again’s biomanufacturing process combines millennia-old bacteria with cutting-edge biotechnology. The process, called gas fermentation, ferments CO? and hydrogen into chemical products in a one-step carbon capture utilization process. Co-founder and CEO Torbjørn Jensen holds a PhD in molecular biology and has an extensive professional background in biotechnology. He leads the company with co-founder and COO Max Kufner, an experienced startup founder and venture capitalist. Again’s cost-competitive, sustainable chemical products are some of the most important building blocks of industry. Again’s first products are acetate and acetic acid, important base chemicals for adhesives, solvents, plastics, textiles, and cosmetics. The company has a full product pipeline and its continuous R&D efforts push the boundaries of CO?-based chemical production. For more information and any media queries, please contact Sönke Hillebrandt at media@again.bio. ### Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. 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