Twelve has raised $330.0M in total across 2 funding rounds.
Twelve's investors include 10x Group, 468 Capital, Matt Ocko, DCVC (Data Collective), Fifth Wall, FirstMark Capital, Firstminute Capital, Footprint Coalition, Insight Partners, La Famiglia, Team Global, Joseph Aamidor - Aamidor Consulting.
Twelve is a Berkeley, California-based chemical technology company that develops carbon transformation technology to convert CO2, water, and renewable electricity into essential products like sustainable aviation fuel (E-Jet® SAF), syngas, chemicals, plastics, and materials—essentially "industrial photosynthesis" that replaces oil-based feedstocks.[1][2][5] It serves industries such as aviation, manufacturing, and consumer goods by solving the problem of greenhouse gas emissions in hard-to-decarbonize sectors, producing drop-in replacements with up to 90% lower emissions.[3][5] The company has shown strong growth momentum, raising $57M in Series A (2021), $130M in Series B (2022), and $645M more recently to scale commercial plants, including a historic deal with IAG for sustainable jet fuel and groundbreaking on an industrial-scale facility.[2][4]
Twelve was founded in 2015 by Dr. Kendra Kuhl, Dr. Etosha Cave, and Nicholas Flanders, emerging from Lawrence Berkeley National Laboratory's Cyclotron Road incubator program.[2] Originally launched as Obtainium in 2014 and later Opus 12, the idea stemmed from breakthroughs in CO2 electrocatalysis, combining expertise in electrochemistry, materials science, and engineering to commercialize CO2-to-products conversion.[2][3] Early traction included awards like the Keeling Curve Prize, Roddenberry Prize, and Forbes' Change the World, plus SBIR grants; it gained visibility on Netflix's *Inside Bill's Brain* and partnerships with labs like Lawrence Berkeley.[2] Pivotal funding from DCVC (first in 2018) and others fueled evolution from R&D to industrial scaling.[2][4]
Twelve rides the wave of carbon utilization and eFuels, addressing net-zero demands in aviation and chemicals—sectors where hydrocarbons remain essential despite electrification.[4] Timing aligns with falling renewable energy costs, regulatory pushes like CORSIA for sustainable aviation fuel (SAF), and consumer demand (74% of Americans prefer CO2-based products per surveys).[5][6] Market forces favor it: abundant waste CO2 from industry, modular tech for rapid deployment, and deals like IAG's positioning Twelve to capture a slice of the $100B+ SAF market.[4] It influences the ecosystem by pioneering "CO2Made" supply chains, enabling brands to innovate sustainably and denting fossil fuel reliance through circular, non-extractive systems.[1][5]
Twelve is poised to lead the carbon transformation industry, with commercial AirPlant™ factories scaling E-Jet® SAF production and expanding CO2Made® into consumer products amid rising eFuel mandates.[4][5] Trends like airline investments in SAF, deep-tech climate funding, and AI-optimized catalysis will accelerate its path to fossil-free hydrocarbons.[4][6] Its influence could evolve from innovator to platform provider, reshaping chemical manufacturing as oil-to-air shifts become standard—turning Twelve from climate tech pioneer into a cornerstone of the next industrial revolution.[1][2]
Twelve has raised $330.0M across 2 funding rounds. Most recently, it raised $200.0M Series C in September 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2024 | $200.0M Series C | 10x Group, 468 Capital, Matt Ocko, DCVC (Data Collective), Fifth Wall, FirstMark Capital, Firstminute Capital, Footprint Coalition, Insight Partners, La Famiglia, Team Global, Joseph Aamidor - Aamidor Consulting, Ron Pragides | |
| Jun 1, 2022 | $130.0M Series B | 10x Group, 468 Capital, Matt Ocko, DCVC (Data Collective), FirstMark Capital, Firstminute Capital, Insight Partners, La Famiglia, Team Global |
