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Turnover Labs Raises $1.4M to Transform Industrial CO2 Emissions into Chemical Building Blocks
- Turnover Labs raises $1.4M in pre-seed funding co-led by Pace Ventures and GC Ventures.
- The New York-based business has developed electrolysis technology that transforms CO2 emissions into valuable chemical building blocks.
- Turnover Labs' proprietary electrolyzers allows for direct collection of manufacturing emissions.
- Simultaneously producing syngas, a critical precursor for petrochemical production, it decarbonises chemical manufacturing operations across both upstream and downstream processes.
- Aside from the environmental benefits, Turnover Labs' circular system delivers significant economic advantages by reducing costs across maintenance, transportation, storage, and monitoring systems.
- The petrochemicals industry which the company is targeting is worth $425bn.
- The funding process was described as intense and the startup faced challenges with conveying the application of the cutting-edge technology.
- Over the next 6 months, the startup aims to run its technology through a range of different real-life emissions samples to maximise its durability.
- Turnover Labs is looking for early pilot opportunities to vet its technology in real-world contexts.
- Turnover Labs focuses on leveraging existing infrastructure rather than building something from scratch and is directly integrating with industry incumbents. This gives immediate access to enormous scale.
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