Participated · Equity · Jun 2023

Carbon Recycling International (CRI) develops process technology to produce methanol from carbon dioxide and hydrogen. Led by CEO Björk Kristjánsdóttir, the company enables customers to produce methanol for use as a fuel and in chemical products. Its technology was developed and proven in Iceland and has been implemented in the largest factory of its kind in the world. CRI is headquartered in Reykjavik, Iceland. The company recently closed a USD30m financing round to support expansion. It intends to use the funds to expand operations and broaden its business reach.

Participated · Equity · Jun 2023

CRI develops and supplies process technology to produce methanol from carbon dioxide and hydrogen. The company's technology was developed and proven in Iceland and has been implemented in the largest factory of its kind in the world. Methanol produced with CRI's process can be used as fuel and in chemical products. CRI says it is entering a scale-up phase to meet increasing market demand for its technology solutions and services. The company recently closed a $30M equity investment round led by Equinor Ventures, with new investors joining its shareholder group. Among CRI's current largest shareholders are Geely, Methanex and Eyrir Invest. CRI intends to continue developing and implementing its technology and to recruit new professionals as part of its scale-up.

Participated · Series B · Dec 2020

Controlant provides a cloud-enabled software platform and high-end IoT devices combined with operational services to give real-time visibility and improve efficiency in pharmaceutical supply chains. The company emphasises reusable IoT devices, reverse logistics and automation to reduce CO2 emissions and material waste. Founded in 2007 and based in Iceland, Controlant gained early experience monitoring Iceland’s H1N1 vaccine and later distributed over five million Pfizer vaccines during the COVID-19 pandemic. Its offerings aim to simplify and transform pharma logistics through digitalisation and continuous monitoring. Controlant has a climate action plan to establish a greenhouse gas emission baseline in 2023 and begin annual sustainability reporting that year. The company recently raised €37.4M to support its next phase of growth. Controlant builds a real-time cold-chain monitoring platform that uses screen-based IoT tags linked to GSM networks and feeds environmental data into proprietary web and mobile apps. Its devices capture time, temperature and light events from vaccine shipments and stream that data to Controlant’s platform. The company confirmed it is providing monitoring services to Pfizer for the Pfizer-BioNTech mRNA COVID-19 vaccine and is also working directly with U.S. government stakeholders including the CDC, HHS and Operation Warp Speed. Controlant says its platform is being used throughout the U.S. supply-chain journey of the vaccines. In September the company secured $15 million in Series B funding to drive market expansion of its Cold Chain as a Service platform; total funding to date is $50 million. Gisli Herjolfsson is co-founder and CEO; investors are largely Iceland-based, and include Sjova, VIS and Frumtak.