Copenhagen-based startup Again has secured €39.4 million in funding to advance its carbon utilization technology. The company converts CO₂ emissions into valuable chemicals to reduce the petrochemical industry’s carbon footprint.
The Series A round was co-led by GV (formerly Google Ventures) and HV Capital, with participation from Kompas VC, EIFO, ACME Capital, and Atlantic Labs. This new capital injection brings Again’s total funding to approximately $100 million, including a $47 million Horizon Europe grant for the PyroCO2 project.
Founded in 2021 by Dr. Torbjørn Jensen, Professor Alex Nielsen, and early-stage investor Max Kufner, Again emerged from a decade of research at the Danish Technical University, Stanford, and MIT. The company focuses on capturing industrial CO₂ emissions and converting them into valuable chemicals, thus mitigating the petrochemical industry’s carbon footprint.
The startup’s technology uses bioproduction processes to ferment waste CO₂ with hydrogen, producing commercial-grade chemicals such as acetate. These chemicals are crucial for various industries, including plastics, adhesives, textiles, and cosmetics. Currently, Again operates a facility in Denmark and aims to build additional production capacities to meet global demand.
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.”
Again’s approach contrasts with traditional carbon capture and storage (CCS) by repurposing captured CO₂ into marketable products, effectively reducing emissions while supporting supply chain resilience. The company has a landmark offtake agreement with HELM AG, a global chemical distributor.
The latest funding will bolster Again’s R&D programs and facilitate the construction of new facilities, aligning with the company’s mission to fully decarbonize the supply chain.
