Skyonic develops SkyCycle™, a thermolytic chemical process that captures CO2 emissions and converts them into marketable, carbon-negative chemical products. The process is reported to capture CO2 at an estimated cost of $16–$25 per ton, below industry averages. Products from the process include hydrochloric acid and calcium carbonate (limestone), which can be used in glass, paper, cement, paint, PVC pipe and other applications. Skyonic is testing the technology at a demonstration scale at the Capitol Aggregates Cement Plant in San Antonio and is building a commercial-scale plant using its SkyMine® technology. Led by founder and CEO Joe Jones, the company is pursuing commercialization and international growth. Financially, Skyonic recently raised $12.5M and also joined a CAD$500k grant from the Climate Change and Emissions Management Corporation to support development toward commercialization. Skyonic develops technologies that extract and mineralize carbon dioxide from industrial flue gas into commercial products such as baking soda, hydrochloric acid and limestone while scrubbing SOx, NOx and mercury. The company builds new and retrofittable plants designed to produce carbon‑negative chemical products at low cost. Skyonic plans to use the recent financing to build a commercial‑scale carbon capture and mineralization plant at Capitol Aggregates Cement in San Antonio, Texas, which is expected to enable the profitable removal of more than 300,000 tons of CO2. The company also intends to advance its global IP portfolio of carbon chemistry solutions and fund R&D and operations. Skyonic was founded in 2005 by inventor and CEO Joe Jones. Its recent financing and grant activity indicate capital support for commercialization and scale‑up. Skyonic has developed an electrolytic carbon-capture technology, SkyMine, that selectively removes CO2, acid gases and heavy metals from flue gas and recycles them into hydrochloric acid, sodium bicarbonate and other byproducts. The company is based in Austin, Texas and was founded in 2005 by CEO Joe Jones. Skyonic is building a carbon capture and utilization plant at Capitol Aggregates in San Antonio, Texas; once operational in 2014 the facility is expected to capture 83,000 short tons and offset an additional 220,000 short tons of CO2 annually. The firm intends to use the recent funding to support construction costs for the U.S. plant, advance its global IP portfolio of green carbon chemistry solutions, and for R&D and operations. Financially, Skyonic has received the first portion of $9M as part of a committed $35M Series C financing. Backers on this tranche include Northwater Capital Management, ConocoPhillips, BP and PVS Chemicals alongside existing investors such as Carl Berg and Zachry Corporation.

Total raised

$150M

Funding rounds

3

Latest round

Equity

Latest activity

May 2014