Newlight Technologies produces AirCarbon®, a high-performance biomaterial grown by natural microorganisms that consume greenhouse gas and produce PHB, which is purified into meltable, moldable materials. Led by CEO Mark Herrema, the company supplies AirCarbon-based products across foodware, fashion, entertainment, hotel, and automotive industries and delivers to over 5,000 locations worldwide. Newlight has development agreements with Charter Next Generation to commercialize specialty films decarbonized with AirCarbon and with Oxy Low Carbon Ventures to use direct air capture systems to develop CO2 feedstock for AirCarbon production plants. The company closed a US$125M equity funding round to support growth. That investment will enable expansion of AirCarbon production at its existing California facility and at a new production facility being built in Ohio. Newlight emphasizes using microorganisms found in California to produce PHB as the basis of its biomaterials. Newlight Technologies manufactures an ocean-degradable biopolymer called PHB using air and greenhouse gas and markets it as AirCarbon. The material is positioned as a regenerative alternative to replace synthetic plastics and fibers to address plastics pollution and climate change. The company has launched branded food-service products, including a line of cutlery and drinking straws. The Series F financing coincides with the commissioning of a new commercial-scale production facility in California called Eagle 3. Newlight emphasizes material safety and certified sustainability in its high-performance, ocean-degradable foodware. The company is led by CEO Mark Herrema and was founded in 2003. Newlight Technologies develops technology that converts greenhouse gases such as methane into carbon-negative plastics. The company produces high-value PHA-based thermoplastic materials intended to replace oil-based plastics and says the materials are comparable to polypropylene and polyethylene. Newlight says it is looking to use methane feedstock from farms, water treatment plants, and municipal landfills. The company is led by Mark Herrema and is based in Irvine. Financially, Newlight raised $9.2M in the reported funding round, bringing total funding to $18.8M. Investors in the round were a mix of new and existing backers; the company did not disclose investor names.

Total raised

$179M

Funding rounds

3

Latest round

Equity

Latest activity

Aug 2023