Silicon Valley decarbonization solutions company announces
global partnerships with major industry leaders
SANTA CLARA, Calif.,
Jan. 27, 2022 /PRNewswire/
-- ReCarbon, (https://recarboninc.com) the developer of a
revolutionary greenhouse gas utilization technology platform,
announces today the closing of its Series B-1 funding round.
In addition, ReCarbon welcomes two important partners, POSCO,
one of the largest steel companies in the world, and GS Holdings
Corporation, a Fortune 500 energy and utility company.
ReCarbon Founder and CEO, Dr. Jay
Kim said, "We envision ReCarbon as a foundation for global
climate-positive, decarbonization solutions. We are thrilled
to close this funding round and to execute important business
cooperation agreements with POSCO and GS Holdings. We are
accelerating our product deployment with our ecosystem partners and
the realization of our mission to restore the Earth."
"Decarbonizing hard-to-abate industry sectors is at the core of
our Corporate Citizenship and ESG goals. We recognize the
significant contribution that ReCarbon will play in helping POSCO
and other companies reach these critical goals for global industry
sustainability. We are pleased to enter into this venture
fund investment of USD 7 million into
ReCarbon, towards far-reaching climate positive outcomes." – Mr.
Daeho Shin, Group Leader, POSCO
Venture Fund Group
"As a strategic investor of ReCarbon, GS Holdings continues its
commitment to invest into companies who have the shared vision of
promoting future growth through digital and climate positive
technologies. In collaboration with GS, we expect the application
of ReCarbon's excellent technology will produce outstanding results
in the future zero carbon era." – Mr. Suh
Hong Hur, Senior Executive Vice President, GS Holdings
These key developments underscore ReCarbon's fast moving
progress to scale by continuing to grow its network of industry
partners and stakeholders.
About
ReCarbon: ReCarbon is an energy
and chemicals company that recycles GHGs into valuable energy and
decarbonized products such as hydrogen and syngas.
About POSCO: The world's most competitive
steelmaker for 12 consecutive years, POSCO
(https://posco.com) is pursuing "Corporate Citizenship: Building a
Better Future Together" including substantive ESG goals.
About GS Holdings Corporation: The
8th largest Korea-based global conglomerate,GS
Holdings (https://gs.co.kr) manages an array of subsidiaries
with a leading presence in the energy and fuel sector via GS Energy
and GS Caltex.
Logo -
https://mma.prnewswire.com/media/1037343/ReCarbon_Logo.jpg
Photo - https://mma.prnewswire.com/media/1730668/posco.jpg
Photo - https://mma.prnewswire.com/media/1730669/GS.jpg