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Q1 2023
PitchBook Analyst Note: Carbon Dioxide as a Source of Value
March 17, 2023
VC firms find higher purposes for CO2 after capture
As technology behind capturing carbon dioxide emissions improves, it begs the question: Can we come up with more ways to turn profits from the substance that would otherwise be warming our planet?
It turns out VC firms see potential in startups turning CO2 into chemicals, fuels and construction materials.
Our latest Emerging Tech Research analyst note, Carbon Dioxide as a Source of Value, explores the novel CO2 uses that have captured VC attention and the differing viabilities of those technologies and markets. The report includes details on VC darling Monolith, which has raised the lion’s share of funding in the carbon utilization space.
Table of contents
| Key takeaways | 1 |
| VC activity | 2 |
| Market conditions for climate tech | 3 |
| Carbon capture increasing the supply of CO2 for carbon utilization startups | 3 |
| Carbon utilization approaches | 4 |
| Carbon-to-chemicals | 5 |
| Highlighted VC-backed carbon-to-chemicals companies | 6 |
| Carbon-to-fuels | 7 |
| Highlighted VC-backed carbon-to-fuels companies | 7 |
| Carbon utilization in construction materials | 9 |
| Highlighted VC-backed carbon-to-construction-materials companies | 10 |
| Overall viability of carbon utilization technologies | 11 |