Tech Company Financing Transactions
Charm Industrial Funding Round
On 6/6/2023, Charm Industrial received $100 million in Series B funding from General Catalyst Partners, Elad Gil and EXOR.
Transaction Overview
Company Name
Announced On
6/6/2023
Transaction Type
Venture Equity
Amount
$100,000,000
Round
Series B
Investors
Proceeds Purpose
The company intends to use the funds to expand engineering and bio-oil R&D efforts, scale operations with tens of thousands of pyrolyzers, and improve transportation capacity.
Company Information
Company Status
Private & Independent
Industry
Environmental
Mailing Address
2575 Marin St
San Francisco, CA 94124
USA
San Francisco, CA 94124
USA
Phone
Undisclosed
Website
Email Address
Overview
Charm Industrial is working to return the atmosphere to 280 ppm CO2. We design, build and operate a fleet of mobile fast pyrolyzers that convert ag and forest biomass residues into bio-oil for use in carbon removal and direct-reduced-iron steelmaking. In 2020 our Chief Scientist and co-founder Shaun Meehan had two breakthroughs (bio-oil intermediate and bio-oil sequestration) that kickstarted the company. Within 10 months we completed our first carbon removal injection and in 2021 we completed more than 5,000 tons of CO2e removal for customers like Stripe, Shopify and Microsoft.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
James Tamplin
Co-Founder
Peter Reinhardt
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