ReMo Energy | July 15, 2022
ReMo Energy, an innovator and manufacturer of industrial materials through the use of renewable energy in lieu of fossil fuels, today announced that it has raised an additional $5.25M Seed round led by early growth fund AiiM Partners, with participation from Breakthrough Energy Ventures, Darco Capital and other strategic angel investors.
ReMo Energy is accelerating the decarbonization of industrial materials, including ammonia, fuels, and polymers - altogether a trillion-dollar market responsible for 14 gigatons of greenhouse gasses annually. ReMo uses predictive modeling and a novel approach for the construction of plants to overcome the challenges of using distributed intermittent renewable energy sources. The company’s facilities are lower capex and standardized, enabling ReMo to build and scale faster while also producing and distributing its products at lower cost. The company’s initial target market is ammonia, one of the most critical inputs to global agriculture and food production, and currently supply-constrained by macroeconomic events such as the war in Ukraine. While ReMo will initially focus on green ammonia for clean fertilizer applications in the corn belt of the U.S., future markets will include shipping fuel and hydrogen storage.
ReMo Energy will use the funding proceeds to scale commercial operations throughout the US Midwest and meet demand from its growing base of customers.
“We always seek opportunities to mitigate climate change, but our approach does more than that. ReMo both enables decarbonization and makes the agricultural supply chains more resilient - all without adding cost for the farmer.”
Scott Rackey, CEO and Co-founder of ReMo Energy
Shally Shanker, Founder and Managing Partner of AiiM Partners, will be joining the Board of Directors. “ReMo’s technology and innovative approach can scale production of renewable materials in two years, versus what typically takes ten years for competitors, while also being cheaper than fossil-fuel based products,” Shally said. “Their solution will accelerate the transition of hard-to-decarbonize sectors and help us avoid the worst of climate change.”
Carmichael Roberts of Breakthrough Energy Ventures said, “ReMo is at the leading edge of developments in renewable materials. ReMo’s ammonia product can play a critical role in decarbonizing the agricultural industry while also ensuring growers get the low-cost nitrogen fertilizers they need. ReMo Energy’s technology benefits all stakeholders, including renewable energy developers and fertilizer purchasers.”
About ReMo Energy
ReMo Energy’s mission is to make today’s fossil-based chemicals from renewable energy. The company has deep expertise in renewable energy, chemical engineering, and project development. ReMo Energy has reimagined every step of chemical production processes to adapt them to the scale and intermittency of low cost solar and wind power projects. ReMo Energy’s products make it possible for the world to improve global quality of life while also massively reducing the emissions of greenhouse gasses and other pollutants.
About AiiM Partners
AiiM Partners invests in market-leading climate change solutions addressing a $17 trillion global opportunity-- with focus on the alternative materials, agriculture & food systems, energy transition and data & digitization sectors. Their diverse team has over a ten-year track record of investing in climate change companies and comprises investors, entrepreneurs, operators and industry experts with over 160 years of combined experience. AiiM focuses on identifying market leaders with commercial solutions that can generate measurable environmental impact and top tier financial performance within a decade. Their team takes a holistic approach towards addressing the climate problem, prioritizing solutions that not only reduce but also sequester greenhouse gasses.
About Breakthrough Energy Ventures
Founded by Bill Gates and backed by many of the world’s top business leaders, BEV has raised more than $2 billion in committed capital to support cutting-edge companies that are leading the world to net-zero emissions. BEV is a purpose-built investment firm that is seeking to invest, launch and scale global companies that will eliminate GHG emissions throughout the economy as soon as possible. BEV seeks true breakthroughs and is committed to supporting these entrepreneurs and companies by bringing to bear a unique combination of technical, operational, market and policy expertise.
Carbios | July 07, 2022
Carbios a pioneer in the development of enzymatic solutions dedicated to the end-of-life of plastic and textile polymers, has signed an agreement with On, Patagonia, PUMA, and Salomon, to develop solutions that will enhance the recyclability and circularity of their products.
An important element of the two-year deal will be to speed up the introduction of Carbios’ unique biorecycling technology, which constitutes a breakthrough for the textile industry. Carbios and the four companies will also research how products can be recycled, develop solutions to take-back worn polyester items, including sorting and dismantling technologies, and gather data on fiber-to-fiber recycling as well as circularity models.
The challenge the four brands share, is that their ambitious sustainable development goals can only partially be met by conventional recycling technologies which mostly target bottle-to-fiber recycling. Future regulations will require more circularity in packaging and textile. Yet the market consensus is that there will soon be a shortage of PET bottles, as they will be used for circular production methods in the Food & Beverage Industry.
Carbios’ innovative process constitutes a real technological breakthrough for the recycling of polyester fibers, which are widely used in apparel, footwear and sportswear, on their own or together with other fibers. PET polyester is the most important fiber for the textile industry with 52 MT produced, even surpassing cotton at 23MT1. The biorecycling process uses an enzyme capable of selectively extracting the polyester, recovering it to recreate a virgin fiber. This revolutionary technology makes it possible to recover the PET polyester present in all textile waste that cannot be recycled using traditional technologies.
PET plastics and fibers are used to make everyday consumer goods such as bottles, packaging and textiles. Today, most PET is produced from fossil resources, then used and discarded according to a wasteful linear model. By creating a circular economy from used plastics and fibers, Carbios’ biorecycling technology offers a sustainable and more responsible solution.
“This Consortium model has proved to be very efficient based on the success of the milestones previously achieved in packaging. We are very pleased to partner with these prestigious brands, On, Patagonia, PUMA, and Salomon. Our common goal is to contribute to reducing the environmental impact of the textile industry by offering an industrial solution to recycle polyester fibers and help our partners to meet their sustainable development goals.”
Emmanuel Ladent, Chief Executive Officer of Carbios
Adrianne Gilbride, Senior Sustainability Manager at On, noted “On is committed to becoming fully circular before the end of the decade. Our partnership with Carbios and the other consortium members is an important step towards enabling the industry to game-changing circular technologies at scale. Fiber-to-fiber recycling is a key building block in closing the loop within the textile and footwear industry".
Natalie Banakis, Materials Innovation Engineer Patagonia, adds “At Patagonia we are actively using our business to “save the Home planet”. We are excited to partner with Carbios and the textile consortium to work collaboratively to reduce waste produced by textiles. The textile waste problem is bigger than one company or solution, and Patagonia is excited to be working in a new format to solve this problem.”
Howard Williams, Director Global Innovation Apparel and Accessories at PUMA adds, ”As part of our Forever Better sustainability strategy, we aim to use 75% recycled polyester in our Apparel and Accessories by 2025. The partnership with Carbios and their innovative biorecycling methods offer a promising approach to reach our goals and make our industry as a whole more circular.”
Olivier Mouzin, Footwear Sustainability Manager at Salomon, concludes, ”At Salomon, we provide advanced sports solutions for all the outdoor participants, from the elite to the enthusiasts. Therefore, it is a natural decision for us to join this consortium made up of clothing and footwear companies, as well as Carbios, to form a new organization for advancing textile recycling that will help create a sustainable future for all Outdoor players. Our goal in joining the consortium is to bring awareness to the end-of-life of textiles, with the ambition of establishing true circularity within the textile industry. The companies in the consortium aim to do this by discovering ways to recycle fibers from one product into another. Partnering with Carbios—a green chemistry leader offering a bio-recycling process that recycles apparel and footwear materials into thread for new products—better enables us to accomplish this goal.”
Established in 2011 by Truffle Capital, Carbios is a green chemistry company, developing biological and innovative processes. Through its unique approach of combining enzymes and plastics, Carbios aims to address new consumer expectations and the challenges of a broad ecological transition by taking up a major challenge of our time: plastic and textile pollution.
Patagonia is a Certified Benefit Corporation based in Ventura, CA that is recognized internationally for product quality and environmental activism. Patagonia has contributed more than $145 million in grants and in-kind donations to date to grassroots nonprofits working to protect people and the planet.
PUMA is one of the world’s leading sports brands, designing, developing, selling and marketing footwear, apparel and accessories. For more than 70 years, PUMA has relentlessly pushed sport and culture forward by creating fast products for the world’s fastest athletes. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Basketball, Golf, and Motorsports. It collaborates with renowned designers and brands to bring sport influences into street culture and fashion. The PUMA Group owns the brands PUMA, Cobra Golf and stichd. The company distributes its products in more than 120 countries, employs about 16,000 people worldwide, and is headquartered in Herzogenaurach/Germany.
Born in the French Alps in 1947, Salomon is committed to pushing the boundaries of mountain sports through the creation of innovative equipment that allows people to play, progress and challenge themselves in their chosen outdoor sports. The company produces and sells premium footwear, winter sports and mountaineering equipment, hiking equipment, and apparel specifically designed for all those disciplines. Products are developed in the company’s Annecy Design Center, where engineers, designers and athletes collaborate to create innovative solutions that continually improve the outdoor experiences of those who see nature as a vast playground.
Ara Partners | June 06, 2022
Repeats Group B.V. a pan-European plastics recycling platform focused on producing high-quality recycled low-density polyethylene announced that it has made an investment in Daly Plastics a producer of recycled LDPE located in the eastern part of the Netherlands, near Apeldoorn. Financial terms of the transaction were not disclosed. Repeats is a portfolio company of Ara Partners a global private equity firm focused on industrial decarbonization.
Repeats' investment in Daly Plastics is an important step in building a pan-European plastics recycling platform. Under Repeats' leadership, Daly plans to nearly double its production capacity to meet the growing demand for recycled LDPE in Europe. The Daly investment builds on Repeats' initial base in Spain, with expansion to other European countries envisioned for later this year.
Daly Plastics utilizes a mechanical process to transform plastic waste from commercial, industrial and agricultural sources into resin suitable for commercial and industrial applications. Daly Plastics, which has supplied recycled LDPE resin to leading customers for over 35 years, is led by Peter Daalder, who has worked at Daly Plastics since its creation in 1985. Mr Daalder will continue leading the Dutch operations and its expansion plans.
"Daly Plastics has an outstanding reputation in the industry as a leading LDPE recycler in the Netherlands and Western Europe. We are thrilled to have Peter Daalder and his team join Repeats and look forward to building on their success to date. We see significant opportunity for Daly Plastics to continue to penetrate the Dutch and German markets while being able to serve more international clients thanks to higher-quality plastic flakes produced with the latest technology available."
Greg Rung, Repeats' CEO
"We are excited to partner with Repeats and Ara to further expand our operations and geographic reach," said Peter Daalder, CEO of Daly. "We share Repeats' ambition to become a leading LDPE recycler in Europe and view our efforts as mission-critical to establish a circular solution for the growing plastic waste problem in Europe."
"We are very impressed with the business that Peter, his family and the entire Daly team have built," said Tuan Tran, a Partner at Ara Partners. "The Repeats platform is well positioned for rapid growth and we envision building the largest independent producer of recycled LDPE resins in Europe. Our investment in Daly Plastics will have a meaningful impact on our continuous efforts to decarbonize the European plastics market."
Based in the Netherlands, Repeats — Recycled PE AT Scale — is a pan-European plastics recycling platform transforming polyethylene ("PE") plastic waste into resin suitable for a variety of commercial and industrial flexible plastic applications. Repeats has also invested in Anviplas, a LDPE recycler based in Catalonia in December 2021.
About Daly Plastics
Founded in 1985 and based in Zutphen, Netherlands, Daly Plastics produces recycled LDPE from both from post-consumer and post-agricultural plastic waste which can be used in packaging applications.
About Ara Partners
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that provide significant decarbonization impact. It operates from offices in Boston, Massachusetts, Houston, Texas and Dublin, Ireland. Ara Partners closed its second fund with approximately $1.1 billion in capital commitments in September 2021.
Oberon Fuels | July 01, 2022
Oberon Fuels a maker of products that reduce greenhouse gas emissions of major energy sectors, has joined both the World Biogas Association and Liquid Gas Europe as Oberon continues to build upon its work in Europe and around the world.
Oberon has developed a straightforward ‘here-now’ way to slash the CO2 emissions of the global Liquefied Petroleum Gas industry through the production of renewable dimethyl ether. Because rDME can be stored, transported and dispensed using existing LPG vehicles and equipment, it can be readily blended with fossil LPG to reduce carbon emissions by up to 60 percent. The intersection between rDME made from biogas and the LPG industry is a key reason for Oberon to join these trade associations.
The EU consumes about 48 billion liters of LPG per year, of which an estimated 3.8 billion liters (1 billion gallons) are imported from Russia. Oberon Fuels can enable European countries to produce fuels from local renewable biomass with no indirect land use impacts while reducing the need to import foreign energy resources. To help meet the goals of the EU Green Deal, the EU market is ready for new approaches to decarbonizing a range of major uses including transport, heating and agriculture.
Oberon’s interest in expanding into Europe and other global markets is intended to accelerate commercial adoption of rDME with near-term market trials leading to deployment of multiple commercial-scale production plants. Oberon already has strategic collaborations with leaders around the world including Suburban Propane (US) and South America-based Lipigas. Oberon executives were in Switzerland recently presenting at the International DME Association’s annual event, and company CEO Rebecca Boudreaux, Ph.D., spoke earlier today at the European Liquid Gas Congress event in Barcelona.
About Oberon Fuels
California-based Oberon Fuels is on a mission to decarbonize the fuel and energy sectors through the commercialization of renewable dimethyl ether. Oberon’s low or carbon-negative rDME can reduce the carbon intensity of propane by up to 60 percent when blended, offering potential reductions in global CO2 of 750 million metric tons per year. rDME’s characteristics also makes it a compelling means for transporting hydrogen for its myriad, fast-growing applications.