Dioxycle is a technology company.
Dioxycle has raised $17.0M across 1 funding round.
Dioxycle has raised $17.0M in total across 1 funding round.
Dioxycle has raised $17.0M in total across 1 funding round.
Dioxycle's investors include 8090 Industries, Balderton Capital, Breakthrough Energy Ventures, Sophie Bakalar, Collaborative Fund, Darco Capital, Future Africa, Gigascale Capital, Lowercarbon Capital, Northpond Ventures, Saga, SOSV.
Dioxycle is a French-American climate tech startup founded in 2021 that develops a proprietary low-temperature electrolyzer to produce sustainable ethylene from captured carbon emissions, water, and renewable electricity.[1][2][6] This technology converts industrial CO₂ into a key chemical feedstock used in plastics, fabrics, construction materials, and more, aiming to displace fossil fuel-based production at equal or lower costs, potentially preventing over 800 million tons of CO₂ emissions annually (more than 1% of global emissions).[3][4][6] Serving chemical manufacturers and industries reliant on ethylene, Dioxycle solves the challenge of high-cost "green premiums" in decarbonization by enabling modular, energy-efficient integration into existing plants, with strong growth momentum shown by a $17 million Series A in 2023 from Lowercarbon Capital, Breakthrough Energy Ventures Europe, and Gigascale Capital.[1][2]
Dioxycle was co-founded in January 2021 by Sarah Lamaison (CEO) and David Wakerley (CTO), leveraging their expertise in CO₂ chemistry and electrolysis after years of academic research.[1][2][5] Wakerley, after eight years in labs scaling carbon utilization, left to tackle industrial challenges, building on 50+ years of team experience in fuel cells, electrolysis, batteries, and materials science from a diverse group of 50% PhDs across 14 nationalities.[5] The idea emerged from breakthroughs in electrochemical CO₂ conversion, with early traction including a medium-scale proof-of-concept electrolyzer by 2022 and progression to a first industrial prototype, fueled by skepticism around cost-competitive clean ethylene that the founders proved viable.[2][3][4]
Dioxycle rides the wave of carbon capture, utilization, and storage (CCUS) and electrification of chemicals, targeting the $5 trillion sector dominated by fossil fuels amid rising net-zero mandates and volatile energy markets.[2][4] Timing is ideal with falling renewable electricity costs and policy pushes like EU carbon borders, making emission recycling faster to scale than rebuilding industries from scratch by leveraging incumbents' assets.[2][3] Market forces favor it through oil majors seeking clean alternatives for expansion, while Dioxycle influences the ecosystem as the "Intel Inside" of CCUS—providing trusted tech to disrupt incumbents and set standards for sustainable fuels, solvents, and materials, accelerating 1%+ global emission cuts.[2][4][6]
Dioxycle is poised to deploy its first-of-its-kind industrial demonstrator, forging partnerships for commercial rollout and expanding the electrolyzer template to other chemicals.[2][3][4] Trends like cheaper renewables, AI-optimized catalysis, and corporate net-zero pledges will propel growth, potentially evolving its role from ethylene pioneer to CCUS platform leader. As a profitable decarbonization enabler, it exemplifies how breakthrough science can outcompete fossils, tying back to its mission of rethinking emissions as feedstocks for a sustainable chemical future.[2][6]
Dioxycle has raised $17.0M across 1 funding round. Most recently, it raised $17.0M Series A in July 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 1, 2023 | $17.0M Series A | 8090 Industries, Balderton Capital, Breakthrough Energy Ventures, Sophie Bakalar, Collaborative Fund, Darco Capital, Future Africa, Gigascale Capital, Lowercarbon Capital, Northpond Ventures, Saga, SOSV, Tet Ventures, Union Square Ventures, Adam D'Angelo, Amjad Masad, Mark Cuban, Sam Altman, Surahbi Gupta |