Again funding news – Copenhagen-based Again Secures $43 Million in a Series A Round Funding

It is a carbon utilisation firm that takes industrial CO2 and turns it into products, as opposed to carbon capture storage (CCS) companies, which capture CO2 and store it away.

Once more, bioproduction techniques are being used to develop chemical manufacturing's future. Similar to how beer is made, it uses waste CO2 and feeds the gas directly into its bioreactors, where it ferments with hydrogen. This leads to the production of commercial-grade, emission-free chemicals that are offered to clients at a price that is competitive with the market.

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The first carbon utilisation plant in Denmark, Again, is already using this technology to reduce emissions by up to 80% by turning CO₂ into acetate, the basis chemical for adhesives, solvents, plastics, textiles, and cosmetics.

In order to reduce CO2 travel, it co-locates its facilities with industrial emission partners once more and sources the CO2 directly on site. The first facility, again, combines with an industrial wastewater treatment plant's CO2 supply. Again provides a pilot module the size of a shipping container for on-site testing of the technology with potential industrial partners in parallel with the development of commercial projects.

Again's plug-and-play solution allows customers to strengthen their supply chain resilience by lowering the need to import chemicals from around the globe, while also decarbonising feedstocks by substituting CO₂ for fossil fuels.

Dr. Torbjørn Jensen, co-founder at Again, said: “Again is the world’s first carbon-negative chemical manufacturer that can scale to meet global demand. Whilst other companies are struggling to make carbon capture scaleable, we have the means to not only capture waste CO₂ but turn it into useful products to fully decarbonise the supply chain. We have ambitious plans ahead and this funding is critical to help us reach the next stage in our mission.”

Additionally involved in the latest round of fundraising were Kompas VC, ACME Capital, EIFO, Denmark's Export and Investment Fund, and Atlantic Labs. With this funding, Again has raised $100 million in total, which includes a $47 million grant from Horizon Europe for the PyroCO2 project.

Roni Hiranand, Principal at GV said: “We have been highly impressed with the company's ability to develop and deploy the core technology so effectively into valuable, market-ready products so we were delighted to co-lead Again’s Series A round after previously backing them. While other sectors have found short-term pathways to mitigating emissions, large segments within the industry still need to achieve the same level of momentum.”

Jan Miczaika, Partner at HV Capital, said: “Again is a once-in-a-generation company that has the technology to solve a major problem, decarbonising the petrochemical industry, and the commercial plan to be able to scale this technology.”

The money will be used for R&D to broaden Again's product line and introduce more molecules to the market, as well as for the construction of extra manufacturing capacity to supply green chemicals to clients, including a historic offtake arrangement with international chemical distributor HELM AG.

About Again

Again we put CO₂ to good use. By combining millennia-old bacteria with cutting-edge technology, they turn CO₂ into carbon negative chemicals. Their novel biomanufacturing process collects the unavoidable carbon outputs from industry and reuses them to manufacture emission-free chemicals - a win-win for everyone.